Ageas: share price rises after reassuring business update
The Belgian insurer took the opportunity to reaffirm its targets, starting with net operating income for 2023, which should reach the upper end of the 1.1-1.2 billion euro range previously communicated, even taking into account the recent storms in Belgium, the UK and France.
The group also reiterated its confidence in the ability of its operating entities to raise more cash than necessary to achieve its target of 6%-10% dividend per share growth.
It believes that its 'solid' foundations enable it to deliver attractive dividend growth, while emphasizing the benefits of its diversification across different regions and businesses.
As the market leader in Belgium, AG's ambition is to generate profitable, above-market growth in all its business segments.
Business in Asia, particularly China, continues to generate a solid operating performance, while the transformation of Ageas UK has proved to be a 'success'.
Following these announcements, Ageas shares were up by more than 3% on Wednesday morning in early trading.
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