2015 was another good year for Ageas. It was also a year in which Vision 2015 was brought to a close, and Ambition 2018 was launched to the market accompanied by refined targets.
Ageas delivered a strong insurance profit in 2015 underpinned by a record performance in Asia and solid results in Belgium. This was achieved against a backdrop of volatile equity markets in Europe and Asia. Inflows increased across both Life and Non-Life and the balance sheet remained strong, with solvency levels ahead of target, and a solid net cash position. The combined ratio improved, despite the impact of the UK December floods, and thanks in particular to an excellent operating performance in Belgium and Continental Europe.
2015 was also a year in which Ageas delivered for its shareholders culminating in a proposed gross cash dividend of EUR 1.65 per share.
Life: EUR 23.5 billion
Non-Life: EUR 6.3 billion
Insurance: EUR 755 million
General Account: EUR 15 million
Ahead of the refined 97% target. Excellent operating performance in Belgium and Continental Europe partly offset by the impact of the December UK floods.
Or EUR 53.59 per share.
Solid solvency ratio and higher than prior year (206%).
Comfortably above the 175% target.
In line with the Ageas dividend policy to pay out 40 to 50% of the Insurance net profit. An increase of 6.5% compared to 2014.
|in EUR million||FY 2015||FY 2014|
|Gross inflows (incl. non-consolidated partnerships at 100%)||29,791.5||25,781.3|
|- of which inflows from non-consolidated partnerships||19,124.8||15,381.9|
|Gross inflows at Ageas's part||13,705.0||12,463.9|
|Net result Insurance attributable to shareholders||755.1||736.8|
|- Continental Europe||70.0||56.0|
|Net result General Account attributable to shareholders||15.1||(261.2)|
|Net result Ageas attributable to shareholders||770.2||475.6|
|Life Technical Liabilities (in EUR billion)||74.1||74.8|
|Life operating margin Guaranteed||0.90%||0.50%|
|Total solvency ratio Insurance||226%||206%|
|Weighted average number of ordinary shares (in million)||215.5||223.1|
|Earnings per share (in EUR)||3.57||2.13|
|Net equity per share (in EUR)||53.59||46.60|
|Return on Equity - Insurance||7.9%||8.8%|
|Return on Equity - Insurance (excluding unrealised gains & losses)||11.0%||11.4%|