Ageas: Moody's confirms A1 rating, stable outlook

(CercleFinance.com) - Belgian insurance group Ageas announced on Thursday evening that Moody's had confirmed its 'A1' rating on its debt, while assigning it a 'stable' outlook.


In a press release, the insurer states that this confirmation reflects its success in achieving its objectives under the 'Impact24' strategic plan and the launch of the new 'Elevate27' plan.

For the record, the latter aims to improve business diversification, margins and capital generation.

Ageas adds that Moody's rating also reflects its strong position in its European markets, particularly Belgium with the AG Insurance brand, and its revenue growth in Asia, a key market for the Group.

The 'stable' outlook indicates that Moody's expects the group to maintain a solid financial profile over the next 12 to 18 months.

On the Brussels Stock Exchange, Ageas shares were up 0.3% on Friday following these announcements, compared with a 0.2% decline for the BEL 20 index.

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