Strong results and positive outlook enable upward target revision
| INFLOWS | NET OPERATING RESULT |
OPERATIONAL CAPITAL GENERATION |
EXPECTED 2025 CASH UPSTREAM | |||
| EUR 10.5 billion | EUR 734 million | EUR 1.1 billion | EUR 940 million | |||
| +4 % vs H1 2024 | +20 % vs H1 2024 | -10 % vs H1 2024 | +17 % vs 2024 |
“I am pleased to share our outstanding first-half 2025 results, which we achieved thanks to the incredible dedication of the entire Ageas team, our valued partners, and the unwavering trust of our customers and shareholders.”
“Our diverse portfolio of Life and Non-Life products continues to attract customers across our various markets. We delivered a robust commercial performance in Life, with growth in Belgium exceeding 10%, and accomplished a successful product mix transition in China. We also achieved solid growth in most Non-Life markets. In Europe, however, sales were influenced by our focus on profitability over volume.”
“The combination of higher volumes and excellent underwriting performances in Life and Non-Life, propelled our Net Operating Result to EUR 734 million. Favourable weather conditions and low tax rate in China further supported these strong results. With such a solid first half, we are confident in achieving a full-year Net Operating Result between EUR 1.3 and 1.35 billion.”
“This outlook allows us to revise our Elevate27 targets upward, increasing the Holding Free Cash Flow target from above EUR 2.2 billion to more than EUR 2.3 billion by 2027. As a result, we will be able to maintain an annual increase in dividend per share of 6%, even with the increased number of outstanding shares. This means that we will distribute over EUR 2 billion over the cycle to our shareholders. Furthermore, we maintain our Elevate27 target of 6-8% earnings per share growth rate.”
“This year, our shareholders will once again benefit from an interim dividend of EUR 1.50 that will be distributed on the 5th of December.”
“In addition to these strong results, I am incredibly proud that our efforts in sustainable entrepreneurship continue to be recognised, as evidenced by our significantly improved scores with two leading ESG rating agencies, ISS and Sustainalytics. This progress is a testament to our dedication to achieving our Elevate27 targets in this area.”
Hans De Cuyper
CEO Ageas
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