Ageas reports 2020 results
Excellent Group results in a challenging Covid-19 context
Strong Insurance performance both in Life and Non-Life mitigated lower contribution of net capital gains
Resilient commercial performance
Proposed gross cash dividend of EUR 2.65 per share
§ The proposed grosss cash dividend of EUR 2.65 represents a 56% pay-out ratio, fully in line with Ageas’s dividend policy
A complete overview of the figuresand comparison with previous year can be found on page 5 of this press release and on the Ageas website.
Key figures and main highlights on the segments can be found in the Annexes of this press release
Ageas CEO Hans De Cuyper said: “We can be proud of the way we navigated through a challenging 2020. Our top line revenue decreased only marginally compared to 2019. This is impressive, considering that our distribution is mainly “customer facing”, through agents, brokers and bancassurance! I want to thank our people and partners for their resilience and dedication, serving our customers remotely and bringing in new clients in difficult circumstances. Despite the Covid-19 context, we delivered excellent results, benefitting more than ever from the geographic diversification, our well-balanced product portfolio, our solid balance sheet and prudent management. 2020 was the second year of our 3-year strategic plan Connect21 and it was important that we kept our minds firmly focused on our strategic goals, targets and ESG commitments that remain an ongoing priority for the long term. The excellent result, our strong balance sheet, the comfortable cash position and stable solvency margin, allow us to propose a gross cash dividend of EUR 2.65 per share to our shareholders.