(ABM FN) Ageas reiterated its 2023 forecast on Tuesday evening and still believes it will end at the high end of expectations. This became clear during the insurer’s investor day.
Ageas targets an operating result of between 1.1 and 1.2 billion euros in 2023.
The insurer also believes there is enough cash to increase earnings by 6 to 10 percent.
On Tuesday, Ageas said its Asian operations, especially those in China, continued their strong performance, “with excellent sales growth and healthy margin development.”
For this reason, Ageas recently participated in a capital increase for Taiping Pension, for a 10 percent stake. This included approximately 140 million euros.
In the UK, Ageas expects to achieve a net profit of £100 million in 2027.
With AG, Ageas wants to “ensure profitable growth above the market average in all its product lines”.
Source: ABM Financial News
ABM Financial News is a resource for stock market news, video and data, both for real-time trading platforms and trading rooms and for online and offline media publications. The information in this article is not intended to provide professional investment advice or a recommendation to make particular investments.
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