Ageas: solid but unsurprising 2024 results

(CercleFinance.com) - On Thursday, Ageas reported annual results for 2024 in line with expectations, enabling it to achieve the targets set as part of its 'Impact24' strategic plan.


The Belgian insurer posted a net operating profit of 1.24 billion euros last year, compared with 1.16 billion euros in 2023, a performance in the upper half of its forecasts.

Premium income amounted to 18.5 billion euros, representing growth of 10%, mainly driven by its non-life business.

In view of this performance, Ageas plans to propose a total gross dividend of 3.50 euros for 2024, in line with its 'Impact24' plan commitments.

Barring unforeseen circumstances, the group says it expects cash flow from operations of between 850 and 900 million in 2025, which should give it a 'good starting point' for meeting its dividend commitment set out in its new three-year 'Elevate27' plan.

Given this lacklustre outlook and the share's recent rise (+14% since the beginning of the year), Ageas shares reacted little to this publication, posting a gain of 0.8%.

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