The year 2021, however marked by the severe floods of last July, will have been very good for Ageas, the parent company of AG Insurance. Its net result amounts to 845 million “thanks to an excellent performance in life”, said the statement released on Wednesday. As for the premiums collected, they crossed the 40 billion euro mark (+12%). “I am very happy and proud that in this year marked by a difficult economic environment, rising inflation and extreme weather, all of our businesses recorded solid commercial and operational performances”, explained CEO Hans De Cuyper. Who bets on a profit of around 1 billion in 2022.
“Given the excellent performance of 2021”the Board of Directors (BoD) is proposing a gross dividend of 2.75 euros corresponding to a profit distribution rate of 52%.
The result in the 4th quarter (277 million) is higher than expected, notes the analyst at Kepler Cheuvreux. Who warns, however, that the positive market reaction – the stock was up almost 7% – could be exaggerated given that the figures are due to certain one-time events.
The KBC analyst speaks of a “very solid” turnover and a net result in the 4th quarter in Asia “incredible”, beating almost all forecasts by 7%. “What to restore confidence in the Asian market”.
Asked during the press conference about the possible presence of the SFPI (the financial arm of the State which has just bought 6.3% of the capital) on the board of directors, Hans De Cuyper explained that the question n was not on the meeting agenda. “The council of 15 people is already complete and we had already identified the 15th person”.
As for the main shareholder of Ageas, the Chinese group Fosun (with 10%), it does not have a seat on the board. And joining the board “is not easy”, according to the CEO because of direct competition from Ageas and Fosun in certain markets (China and Portugal). “We have good contacts with them”nevertheless assured the CEO