A phone conversation about income: Ageas reports strong results and an increase in dividends.

Ageas (AGS.BR), an international insurance group, demonstrated strong commercial performance in its latest earnings call, with a noticeable increase in both life and non-life streams. The company's net operating result reached €1.17 billion, confidently in the upper half of their forecast.

Ageas also announced an 8% increase in the total dividend to €3.25 per share for the year. Looking ahead, the company is optimistic about receiving significant recurring dividends in 2024 and is considering share buybacks as part of its financial strategy.

Key findings:

• Ageas reported an 8% increase in flows at constant exchange rates, with significant growth in Non-life flows.
• The net operating result amounted to €1.17 billion, falling within the upper half of the company's forecast.
• There was strong insurance activity in both the Life and Non-Life segments.
• The operating capital generation amounted to €1.8 billion, and the cash position strengthened to €959 million.
• Ageas expects to receive between €750 and €800 million in recurring dividends in 2024.
• A final dividend of €1.75 per share is proposed, resulting in a total dividend of €3.25 for the year, an increase of 8% compared to the previous year.
• The decision regarding the buyback of shares is still under consideration, and a decision is expected to be made around the middle of the year.
• The capital adequacy ratio in China has increased from 162% to over 280%.
• Ageas remains open to consolidation opportunities in the market and expects high profit growth in Southeast Asia and India.

The prosperity of the company:

• Ageas aims for a net operating result of over €1.2 billion for 2024.
• The company is confident in achieving its strategic goals for Impact24.
• Real estate continues to generate stable rental income, while the parking business is recovering after COVID.