Tillkännagivande • May 23
ageas SA/NV Appoints Renaud Dumora as A Non-Executive Member of the Board of Directors ageas SA/NV at its Ordinary and Extraordinary General Meetings of Shareholders held on May 20, 2026 approved to appoint Mr. Renaud Dumora as a non-executive member of the Board of Directors for a period of 4 years. Tillkännagivande • May 22
ageas SA/NV Approves Gross Cash Dividend for the Financial Year 2025, Payable on 5 June 2026 ageas SA/NV approved gross cash dividend of EUR 3.75 per share for the financial year 2025, ex-dividend date of 3 June 2026 and payment date of 5 June 2026 of the final dividend of EUR 2.25 (coupon no. 20). An interim dividend of EUR 1.50 per ageas SA/NV share was already paid in December 2025. Board Change • May 20
High number of new directors Independent Non-Executive Director Xavier de Walque was the last director to join the board, commencing their role in 2024. Tillkännagivande • Apr 30
ageas SA/NV (ENXTBR:AGS) completed the acquisition of remaining 25% stake in AG Insurance SA/NV from BNP Paribas Fortis SA (ENXTBR:017250539). ageas SA/NV (ENXTBR:AGS) signed a framework agreement to acquire remaining 25% stake in AG Insurance SA/NV from BNP Paribas Fortis SA (ENXTBR:017250539) for €1.9 billion on December 7, 2025. A cash consideration of €1.9 billion will be paid by ageas SA/NV. As part of consideration, €1.9 billion is paid towards common equity of AG Insurance SA/NV. Upon completion, ageas SA/NV will own 100% stake in AG Insurance SA/NV. The transaction will be financed via equity placement of 18.5 million shares at a price if €60 per share valued at €1.1 billion to BNP Paribas Cardif and use of existing cash, existing financing facilities and flexibility in debt capital market.
The deal is expected to be finalized in 2Q26, after obtaining the necessary regulatory approvals.
ageas SA/NV (ENXTBR:AGS) completed the acquisition of remaining 25% stake in AG Insurance SA/NV from BNP Paribas Fortis SA (ENXTBR:017250539) on April 28, 2026. Pursuant the agreement, BNP Paribas nominated Renaud Dumora for appointment as a non-executive member of the Board of Directors of ageas SA/NV at the upcoming General Shareholders Meeting of May 20, 2026. Tillkännagivande • Apr 22
ageas SA/NV, Annual General Meeting, May 20, 2026 ageas SA/NV, Annual General Meeting, May 20, 2026, at 10:30 Romance Standard Time. Location: auditorium of ag insurance, ag campus rue du pont neuf 17, 1000 brussels, Belgium Tillkännagivande • Feb 25
ageas SA/NV Proposes Gross Cash Dividend for 2025 ageas SA/NV proposed total gross cash dividend of EUR 3.75 for 2025, fully in line with its commitment, +7% vs 2024. Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Xavier de Walque was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Dec 08
ageas SA/NV (ENXTBR:AGS) signed a framework agreement to acquire remaining 25% stake in AG Insurance SA/NV from BNP Paribas Fortis SA (ENXTBR:017250539) for €1.9 billion. ageas SA/NV (ENXTBR:AGS) signed a framework agreement to acquire remaining 25% stake in AG Insurance SA/NV from BNP Paribas Fortis SA (ENXTBR:017250539) for €1.9 billion on December 7, 2025. A cash consideration of €1.9 billion will be paid by ageas SA/NV. As part of consideration, €1.9 billion is paid towards common equity of AG Insurance SA/NV. Upon completion, ageas SA/NV will own 100% stake in AG Insurance SA/NV. The transaction will be financed via equity placement of 18.5 million shares at a price if €60 per share valued at €1,110 million to BNP Paribas Cardif and use of existing cash, existing financing facilities and flexibility in debt capital market.
The deal is expected to be finalized in 2Q26, after obtaining the necessary regulatory approvals. Declared Dividend • Nov 24
First half dividend of €1.05 announced Shareholders will receive a dividend of €1.05. Ex-date: 3rd December 2025 Payment date: 5th December 2025 Dividend yield will be 4.2%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Nov 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Risk Officer & Director Christophe Ghislain Vandeweghe was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Risk Officer & Director Christophe Ghislain Vandeweghe was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 29
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Risk Officer & Director Christophe Ghislain Vandeweghe was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 28
Upcoming dividend of €1.40 per share Eligible shareholders must have bought the stock before 04 June 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 6.1%. Within top quartile of Austrian dividend payers (4.8%). Higher than average of industry peers (4.2%). Declared Dividend • Apr 28
Final dividend of €1.40 announced Shareholders will receive a dividend of €1.40. Ex-date: 4th June 2025 Payment date: 6th June 2025 Dividend yield will be 4.6%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: €6.10 (vs €5.19 in FY 2023) Full year 2024 results: EPS: €6.10 (up from €5.19 in FY 2023). Revenue: €8.51b (up 13% from FY 2023). Net income: €1.12b (up 17% from FY 2023). Profit margin: 13% (in line with FY 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Tillkännagivande • Mar 13
Allianz, ageas Reportedly Eye British Insurer esure Belgian insurer ageas SA/NV (ENXTBR:AGS) has retained advisors to explore a bid for British motor and home insurer esure Group plc, four people familiar with the matter told Reuters, as part of plans to consolidate the UK personal lines market. Allianz SE (XTRA:ALV) has also been working on an offer for esure in recent weeks, said two of the people, speaking on condition of anonymity. There will only be one main round of bidding, with a deadline in the next few weeks, the third person said, cautioning that a deal is not guaranteed. Bids for esure, owned by private equity firm Bain Capital, could be around GBP 1.5 billion ($1.94 billion), a fifth person said. All five people were speaking on condition of anonymity because the process is private. Spokespeople for Bain, Ageas, Allianz and esure declined to comment. Board Change • Mar 11
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Xavier de Walque was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Feb 28
Ageas Sa/Nv Proposes Final Dividend ageas SA/NV proposed total dividend of EUR 3.50 per share. Final dividend of EUR 2.00 per share. Board Change • Jan 28
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Xavier de Walque was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 27
Upcoming dividend of €1.05 per share Eligible shareholders must have bought the stock before 04 December 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 56% but the company is paying out more than the cash it is generating. Trailing yield: 6.8%. Within top quartile of Austrian dividend payers (6.3%). Higher than average of industry peers (4.8%). Reported Earnings • Sep 01
First half 2024 earnings released: EPS: €3.49 (vs €2.89 in 1H 2023) First half 2024 results: EPS: €3.49 (up from €2.89 in 1H 2023). Revenue: €4.31b (up 16% from 1H 2023). Net income: €642.0m (up 21% from 1H 2023). Profit margin: 15% (in line with 1H 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Aug 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (160% cash payout ratio). Tillkännagivande • Aug 29
ageas SA/NV (ENXTBR:AGS) announces an Equity Buyback for €200 million worth of its shares. ageas SA/NV (ENXTBR:AGS) announces a share repurchase program. Under the program, the company will repurchase up to €200 million of its shares. The shares repurchased will be held in treasury. The program is valid till July 31, 2025. Tillkännagivande • Aug 28
ageas SA/NV Declares Interim Gross Cash Dividend for the Fiscal Year 2024 ageas SA/NV declared a Interim gross cash dividend of EUR 1.50 per share for the fiscal year 2024. Tillkännagivande • May 31
ageas SA/NV to Report First Half, 2024 Results on Aug 28, 2024 ageas SA/NV announced that they will report first half, 2024 results on Aug 28, 2024 Upcoming Dividend • May 29
Upcoming dividend of €1.23 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 7.4%. Within top quartile of Austrian dividend payers (6.0%). Higher than average of industry peers (5.1%). Declared Dividend • Apr 29
Final dividend of €1.23 announced Shareholders will receive a dividend of €1.23. Ex-date: 5th June 2024 Payment date: 7th June 2024 Dividend yield will be 5.2%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Mar 25
Ageas Plans Not to Make Further Offer for Direct Line Insurance ageas SA/NV (ENXTBR:AGS) announced that, following the two recent attempts to engage with the Board of Directors of Direct Line Insurance Group plc (LSE:DLG) ("Direct Line") in relation to the acquisition by Ageas of the entire issued and to be issued share capital of Direct Line, which were both rejected, it will not make an offer for Direct Line. As a result of this announcement, Ageas (and any persons acting in concert with it) will, except with the consent of the UK Panel on Takeovers and Mergers (the "Panel"), be bound by the restrictions contained in Rule 2.8 of the Code. For the purposes of Rule 2.8 of the Code, Ageas (and any persons acting in concert with it) reserves the right to announce an offer or possible offer for Direct Line or make or participate in an offer or possible offer for Direct Line and/or take any other action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances described in Note 2 to Rule 2.8 of the Code: (i) with the agreement of the Board of Directors of Direct Line; (ii) if a third party (including another publicly identified potential offeror) announces a firm intention to make an offer for Direct Line; (iii) if Direct Line announces a Rule 9 waiver or a reverse takeover (as defined in the Code); or (iv) if the Panel determines there has been a material change of circumstances. On 19 January 2024, Ageas provided the Board of Direct Line with an initial possible offer proposal (the "Initial Possible Offer") to acquire the entire issued and to be issued share capital of Direct Line. The terms of the Initial Possible Offer were improved on 9 March 2024 and set out in an announcement (the "Improved Possible Offer") on 13 March 2024. Ageas believes that the proposal, on these terms, would have created significant value for both groups of shareholders and other stakeholders. Throughout the entire process, Ageas has always sought engagement with Direct Line's Board. Ageas regrets that it has not been able to work collaboratively together with the Board of Directors of Direct Line towards a recommended Firm Offer. Ageas was not able to identify additional elements based on publicly available information that would justify significant adjustments to the terms of its possible offer. Therefore, consistent with its financial discipline, Ageas has decided not to make a Firm Offer. Ageas continues to believe in the underlying attractiveness and future opportunities of the UK personal lines sector and the role of Ageas UK in this market, underpinned by its successful turnaround over the last few years. Ageas UK will continue to execute its focused personal lines insurance strategy alongside its valued distribution partners. Ageas remains focused on the execution of its strategy, as a group of local companies outperforming in their markets, benefitting from synergies within the Group. Ageas re-iterates its confidence to deliver on its stated Impact24 financial and operating targets thanks to the strong performance of its operating entities. The Group's solid foundations underpin our attractive dividend growth ambitions in line with our stated Impact24 ambitions and beyond this strategic cycle. Hans De Cuyper, CEO of Ageas, said: "We had hoped to reach agreement on a jointly recommended Firm Offer together with the Direct Line Board. However, I am convinced that given the circumstances we took the right decision not to make an offer, staying true to who we are and what we stand for in terms of maintaining a friendly approach and respecting our financial discipline. I sincerely want to thank our employees and advisors who delivered outstanding performance exploring this opportunity, and our investors for their continued trust in our company". Tillkännagivande • Mar 16
BNP Paribas Reportedly Considers Buying Fosun's Ageas Stake BNP Paribas SA (ENXTPA:BNP) is considering a potential acquisition of Fosun International Limited (SEHK:656)’s stake in Belgian insurer ageas SA/NV (ENXTBR:AGS), according to people with knowledge of the matter. The French lender has been holding discussions on a possible purchase of Fosun’s holding in Ageas, said the people, who asked not to be identified because the information is private. Fosun has about a 10% interest in Ageas valued at roughly €750 million ($816 million) based on March 14, 2024 closing price, according to a regulatory filing. The figure includes its stock ownership as well as derivative holdings. The deliberations are ongoing and there’s no certainty they will lead to a transaction, the people said. Representatives for BNP and Ageas declined to comment. Fosun couldn’t immediately be reached for comment outside regular business hours. Bloomberg News reported last month that Fosun has been working with advisers to explore a sale of its Ageas stake. The Chinese conglomerate, which is backed by billionaire Guo Guangchang, has been accelerating a divestment push as it seeks to cut its debt load following a global acquisition spree. BNP’s potential move comes as Ageas pushes ahead with a contentious pursuit of a takeover of London-listed Direct Line Insurance Group Plc. The UK insurer said this week it had rejected a second takeover offer from Ageas valuing it at about £3.2 billion ($4.1 billion). Tillkännagivande • Feb 29
Direct Line Soars as Ageas Mulls 3.10b Bid Shares in Direct Line Insurance Group plc (LSE:DLG) jumped on February 28, 2024 after Belgian insurer ageas SA/NV (ENXTBR:AGS) confirmed it was considering making an offer for the company. Shares in Direct Line, the Bromley, England-based motor and home insurer, soared 22% to 199.69 pence each in London on February 28, 2024. Ageas said the terms of the proposed cash and shares offer had an implied value of 233p per Direct Line share, representing a premium of 43% to 163.35 pence, closing price on February 27, 2024. The terms of the proposed bid are 100p in cash for each Direct Line share, and one new Ageas share for every 25.24047 Direct Line shares. Ageas said this would value Direct Line at around GBP 3.10 billion. A combination offered "compelling strategic and financial value for both Ageas and Direct Line shareholders", it added. Ageas highlighted the potential to drive operational improvements and efficiencies, in part through the removal of overlapping overhead costs after the integration of Ageas' and Direct Line'sUK businesses. Earlier February 28, 2024, Bloomberg reported that Direct Line had rebuffed an approach from Ageas, citing people familiar with the matter. Upcoming Dividend • Oct 20
Upcoming dividend of €1.05 per share at 7.7% yield Eligible shareholders must have bought the stock before 25 October 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 7.7%. Within top quartile of Austrian dividend payers (5.7%). Higher than average of industry peers (5.2%). New Risk • Oct 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.01% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.01% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.3% net profit margin). Tillkännagivande • Sep 27
La Mutuelle Epargne Retraite Prévoyance Carac acquired French Life Insurance activities of Ageas. La Mutuelle Epargne Retraite Prévoyance Carac signed an agreement to acquire French Life Insurance activities of Ageas on April 21, 2023. Ageas’s French Life and Pension activities consist of Ageas France, Ageas Retraite, Ageas Patrimoine and Sicavonline. The transaction is subject to regulatory approval. French Life Insurance activities generated revenue of €6.1 million in 2022. The transaction is expected to be closed during third quarter of 2023.
La Mutuelle Epargne Retraite Prévoyance Carac completed the acquisition of French Life Insurance activities of Ageas on September 25, 2023. All regulatory approvals regarding the sale of French life insurance, savings and pension business to La Mutuelle Epargne Retraite Prévoyance Carac have been obtained. Reported Earnings • Sep 01
First half 2023 earnings released: EPS: €2.89 (vs €3.05 in 1H 2022) First half 2023 results: EPS: €2.89 (down from €3.05 in 1H 2022). Revenue: €5.30b (up 49% from 1H 2022). Net income: €531.0m (down 5.7% from 1H 2022). Profit margin: 10.0% (down from 16% in 1H 2022). Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Insurance industry in Europe are expected to grow by 7.5%. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • May 24
Upcoming dividend of €1.05 per share at 7.3% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 7.3%. Within top quartile of Austrian dividend payers (5.4%). Higher than average of industry peers (5.1%). Tillkännagivande • May 13
ageas SA/NV to Report First Half, 2023 Results on Aug 30, 2023 ageas SA/NV announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 17
Full year 2022 earnings released: EPS: €5.49 (vs €4.52 in FY 2021) Full year 2022 results: EPS: €5.49 (up from €4.52 in FY 2021). Revenue: €9.87b (down 27% from FY 2021). Net income: €1.01b (up 20% from FY 2021). Profit margin: 10% (up from 6.3% in FY 2021). The increase in margin was driven by lower expenses. Combined ratio: 96.5% (up from 95.4% in FY 2021). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: €5.49 (vs €4.52 in FY 2021) Full year 2022 results: EPS: €5.49 (up from €4.52 in FY 2021). Revenue: €10.4b (down 23% from FY 2021). Net income: €1.01b (up 20% from FY 2021). Profit margin: 9.7% (up from 6.3% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Tillkännagivande • Jan 12
ageas SA/NV to Report Fiscal Year 2022 Final Results on Mar 31, 2023 ageas SA/NV announced that they will report fiscal year 2022 final results on Mar 31, 2023 Tillkännagivande • Nov 15
Ageas Announces CFO Changes Ageas announced that, with effect 1 June 2023, and subject to the necessary regulatory approvals, Wim Guilliams will succeed Christophe Boizard who announced his intention to retire as CFO Ageas after a tenure of more than 11 years. With Wim Guilliams, the current CFO of Ageas’s Belgian subsidiary AG Insurance, Ageas appoints an experienced executive with extensive financial knowledge and someone very familiar with the Group and the insurance sector. Through the senior management positions he held before in various financial groups, and having led the implementation project of the new IFRS 17 accounting rules within Ageas, Wim is fully equipped to successfully lead the Ageas Finance community and to contribute to the further development of the company. Wim Guilliams joined Ageas in 2015 as CFO of AG Insurance. Prior to this he held several executive and Board positions within KBC Group in Belgium and Eastern Europe, and within ING Insurance in Belgium. As newly appointed CFO, Wim will also be proposed as a member of the Ageas Board of Directors at the General shareholders meeting of 17 May 2023. Wim’s appointment is subject to the approval of the National Bank of Belgium. As of 1 January 2023, Wim will be appointed Deputy CFO of Ageas in order to initiate the transition with Christophe. AG Insurance also announced this morning that a successor to Wim Guilliams as CFO of AG has been appointed. Upcoming Dividend • Oct 19
Upcoming dividend of €1.05 per share Eligible shareholders must have bought the stock before 26 October 2022. Payment date: 28 October 2022. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 7.5%. Within top quartile of Austrian dividend payers (6.0%). Higher than average of industry peers (5.9%). Tillkännagivande • Aug 10
ageas SA/NV Announces Interim Dividend for the Year 2022 ageas SA/NV announced interim dividend Interim dividend of EUR 1.5 per share for the year 2022. Upcoming Dividend • May 25
Upcoming dividend of €1.93 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of Austrian dividend payers (4.5%). Higher than average of industry peers (5.4%). Reported Earnings • May 22
First quarter 2022 earnings released First quarter 2022 results: Revenue: €2.25b (down 35% from 1Q 2021). Net income: €271.8m (down 8.1% from 1Q 2021). Profit margin: 12% (up from 8.6% in 1Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 19% compared to a 16% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: €4.52 (vs €6.07 in FY 2020) Full year 2021 results: EPS: €4.52 (down from €6.07 in FY 2020). Revenue: €13.5b (up 12% from FY 2020). Net income: €845.0m (down 26% from FY 2020). Profit margin: 6.3% (down from 9.5% in FY 2020). The decrease in margin was driven by higher expenses. Combined ratio: 95.4% (up from 91.3% in FY 2020). Over the next year, revenue is expected to shrink by 25% compared to a 16% growth forecast for the insurance industry in Austria. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Tillkännagivande • Feb 24
Ageas Sa/Nv Proposes Gross Cash Dividend ageas SA/NV proposed gross cash dividend of EUR 2.75 per share. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS €0.60 (vs €1.78 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €3.29b (down 7.8% from 2Q 2020). Net income: €111.1m (down 67% from 2Q 2020). Profit margin: 3.4% (down from 9.5% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Aug 12
ageas SA/NV (ENXTBR:AGS) announces an Equity Buyback for €150 million worth of its shares. ageas SA/NV (ENXTBR:AGS) announces a share repurchase program. Under the program, the company will repurchase up to €150 million of its shares. The shares repurchased will be held in treasury. The program is valid till July 29, 2022. Tillkännagivande • May 07
Ageas May Up Stake in Federal Life to 74%’ ageas SA/NV (ENXTBR:AGS) increasing its stake in Ageas Federal Life Insurance Company Ltd. has ended a period of instability in the joint venture and has positively impacted the morale of the employees, said Vighnesh Shahane, Managing Director and Chief Executive Officer, Ageas Federal Life Insurance to BusinessLine. While there is a likelihood that Ageas could further increase its stake to 74% in the private sector life insurer, the Federal Bank’s proposal to increase stake to 30% has, however, been discouraged by the Reserve Bank of India (RBI). “If Ageas does step up to 74% –there is a very positive intent to do so and they are just awaiting certain amendments to the Act – then I think there is a very strong likelihood that they would buy out the IDBI Bank stake,” Shahane said. “In the case of Federal Bank, it wanted to step up its stake to 30% but the RBI has discouraged banks from increasing stake and wants to focus more on their core activities and preserving capital, especially at this time,” he further said. The Federal Bank did not comment on an email query by BusinessLine on the status of its proposal to the RBI to increase its stake. “We have been doing well and the immediate strategy is to continue doing the things we do well and also fix our distribution,” he said. Is New 90 Day High Low • Feb 23
New 90-day high: €47.23 The company is up 10.0% from its price of €42.94 on 24 November 2020. The Austrian market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €82.43 per share. Is New 90 Day High Low • Jan 06
New 90-day high: €45.66 The company is up 25% from its price of €36.44 on 08 October 2020. The Austrian market is up 27% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €83.76 per share. Is New 90 Day High Low • Dec 16
New 90-day high: €43.31 The company is up 14% from its price of €37.83 on 17 September 2020. The Austrian market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €89.83 per share. Tillkännagivande • Nov 02
Ageas Announces Management Changes, Effective November 1, 2020 Ageas strengthens the business focus in the Executive Committee with the roles of Managing Director Asia and Managing Director Europe. As of 1 November 2020, Filip Coremans, currently Chief Development Officer (CDO), will be appointed as Managing Director Asia (MD Asia) and Antonio Cano, currently Chief Operating Officer (COO), as Managing Director Europe (MD Europe). These functions reflect the growing importance of a dedicated regional focus for the Group and respond to the different challenges and opportunities between the regions. The responsibilities of Christophe Boizard as Chief Financial Officer and Emmanuel Van Grimbergen as Chief Risk Officer within the Executive Committee (Exco) remain unchanged. Tillkännagivande • Sep 08
BE Group AB (publ) (OM:BEGR) cancelled the acquisition of ageas SA/NV (ENXTBR:AGS). BE Group AB (publ) (OM:BEGR) made an offer to acquire ageas SA/NV (ENXTBR:AGS) on September 4, 2020. ageas Board of Directors assessed the indicative proposal but considered it not realistic and has decided not to engage.
BE Group AB (publ) (OM:BEGR) cancelled the acquisition of ageas SA/NV (ENXTBR:AGS) on September 4, 2020. Tillkännagivande • Aug 31
ageas SA/NV Announces Executive Changes, Effective October 22, 2020 ageas SA/N announced that, subject to the necessary approvals, Hans De Cuyper will succeed Bart De Smet as CEO of Ageas with effect from October 22, 2020. At the same time, Bart De Smet will become the Chairman of the Group replacing Jozef De Mey who recently announced his decision to step down. Since October 1, 2015, Hans held the position of Chief Executive Officer of AG Insurance and consequently CEO of the ‘Belgium’ segment within the Group. 
