Ageas: solid 2024 results - but unsurprising

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


The Belgian insurer posted net operating profit of E1.24bn for last year, compared with E1.16bn in 2023, a performance in the upper half of its forecasts.

Premium income reached E18.5bn, up 10%, mainly driven by its non-life business.

In view of this performance, Ageas plans to propose a total gross dividend of E3.50 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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