Ageas reports full-year results 2023

Ageas reports full-year results 2023

• Excellent commercial performance in Non-Life across all segments and double-digit growth in Life in China
• Net Operating Result at EUR 1,166 million, reflected by an excellent Operational Capital Generation
• Cash position increased significantly to EUR 959 million
• Proposed total dividend of EUR 3.25 per share, up more than 8%. Final dividend of EUR 1.75 per share

An overview of the figures and comparison with previous year can be found on page 7 of this press release and on the Ageas website.

Hans De Cuyper, CEO Ageas, commented: "In 2023, we delivered a strong commercial performance. This was mainly driven by a remarkable growth in Non-Life across the Group and by the strong Life activities in China, while Reinsurance also successfully concluded its 1 January 2024 renewal campaign. The solid margins in Life and the strong combined ratio in Non-Life confirm the operational strength of our business now and going forward. In meeting our commitments with regards to the Net Operating Result, we are proud to announce a total gross cash dividend of EUR 3.25 over 2023, in line with our engagement under Impact24. Regarding the progress on our Impact24 strategy, again in 2023, we took important steps in delivering on our ambitions in terms of growth, commercial excellence, integration of tech & data, and sustainability. As a result, we made good progress against our non-financial and sustainability targets on many fronts, which was also recognised by the outside world, as evidenced by the rating increase throughout the year by five of the six ESG rating agencies that follow us. I’m very grateful to our dedicated people and valued partners for their significant contributions to our strong performance in 2023, and I want to thank our investors and customers for their unwavering trust in our company.”

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