Insurance group Ageas will pay shareholders an interim gross cash dividend of €1.50 per share following an “excellent” first half.
Here are the numbers for Ageas, according to its half-year earnings report:
Inflows-wise, Ageas said its life inflows grew by 10% to €6.5 billion while its non-life inflows saw a 23% jump to €3.7 billion. It was highlighted that the group achieved inflows that reached the €10 billion mark for the first time.
Lifting the lid on the financial results, chief executive Hans De Cuyper commented: “Once again we delivered on our Impact24 growth strategy, driven by an excellent overall non-life performance and significant growth in life bolstered by a solid increase in inflows in Asia and a strong recovery in Europe.
“These excellent insurance results in both life and non-life allowed us to deliver a robust net operating result for the first half of 2024. This places us in a strong position to sustain our full-year guidance for a net operating result of €1.2 to 1.25 billion.”
Meanwhile, aside from the interim dividend, a new €200 million share buyback programme was also announced. This equates to around 2.5% of the insurer’s current market capitalisation.
De Cuyper went on to note: “Alongside our operational and financial successes, we are increasingly being recognised for our commitment to our non-financial goals, and as we approach the conclusion of our three-year strategic plan, we are confident that we will meet all targets set under Impact24.”
Through subsidiaries and long-term partnerships, Ageas operates in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines.
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