Full Year 2024 Ageas SA Earnings Call Transcript

Feb 27, 2025 / 09:30 AM GMT

Release Date Price: $51.92

Transcript

Key Points

Positve

Ageas SA/ NV (AGESF) reported a 10% increase in inflows for 2024, driven by strong growth in non-life segments, particularly in the UK and Portugal.
The company achieved a net operating result of €1.24 billion, reaching the upper half of their guidance range.
Operational capital generation reached an exceptionally strong €2.2 billion, exceeding the €2 billion mark for the first time.
The board proposed a total gross cash dividend of €3.50 per share, reflecting an 8% growth over 2024.
Ageas SA/ NV (AGESF) successfully completed its Impact 24 growth strategy, establishing a solid foundation for its next strategic plan, EA 27.

Negative

The attritional loss ratio in Belgium's PNC segment deteriorated in the second half of 2024, partly due to one-off adjustments from updated indicative tables.
Higher effective tax rates impacted the net operating results, particularly in China where deferred taxes were elevated.
The cash generation from China was lower year-on-year due to low interest rates, which may continue to be a headwind in 2025.
Interest rate decreases in China could negatively impact investment results, posing a challenge to maintaining EPS targets.
The solvency ratio for non-Solvency II scope companies showed volatility, influenced by asset management actions in China.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AGES.BR - Ageas SA
Full Year 2024 Ageas SA Earnings Call
Feb 27, 2025 / 09:30AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to this AGS conference call.

I am pleased to present Mr. Hans de Kerper, Chief Executive Officer, and Mr. Wim Gilliams, Chief Financial Officer.

For the first part of this call, let me remind you that all participants will remain on a listen-only mode, and afterwards there will be a question and answer session. Please note that the conference is being recorded.

I would now like to hand over to Mr. Hans de Kerper and Mr. Wim Gilliams. Gentlemen, please go ahead.

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Unidentified_2 [2]
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Good morning, ladies and gentlemen. I want to thank

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