Key events for the Ageas Group in 2022
Another year, another set of challenges but also a number of remarkable achievements for the Ageas Group. Here are some of the key highlights of the year.
Top Employer certificate reflects dedication to the creation of a better workplace through excellent HR policies and people practices.
Ageas Corporate Centre, AG and AG Real Estate were all individually recognised in Belgium, distinguished for career opportunities, continuous learning and development, sustainability, and strong employee empowerment. Ageas UK has also been recognised as a Top Employer.
Award recognises Ageas for strong commitment to sustainability.
The award presented by CFI.co, recognised the cumulative impact of various sustainability initiatives reflecting the Group’s pledge to put sustainability at the heart of its decision-making with a special focus on product innovation, responsible investing, reduction of emissions and increasing economic and societal value for customers.
The Group delivers on all financial targets in Connect21 strategic cycle.
Ageas reaches a net result at the top end of the guidance and a double-digit growth driving inflows to EUR 40 billion (at 100%), thanks to the solid commercial performance across regions and businesses. Ageas proposed a gross cash dividend of EUR 2.75 per share.
Transaction allows Ageas UK to fully focus on the further development of its Personal Lines business
This sale aligns with Ageas UK’s strategy to focus its time and investment on growing the intermediated Personal lines business, particularly where it is traded electronically, where it has a strong heritage and market-leading experience with a reputation for successfully backing insurance brokers.
Ageas confirmed that the final instalments to claimants have been paid by the claims’ administrator, finally bringing to a close the Fortis settlement for almost all claimants.
As a global official sponsor of Million Dollar Round Table professional association (MDRT), Ageas gains a strategic lever for its ambition to grow agency distribution.
This three-year partnership enables Ageas to improve distribution development and diversification as well as commercial excellence as part of the Group’s Impact24 strategy.
Partnership helps Ageas to leverage the strengths of Digital platforms and ecosystems
In pursuing growth, Ageas is exploring ways to participate in ecosystems and the platform economy embracing the opportunities that emerge from increased digitisation. Ageas chose to partner with eBaoTech Corporation (eBaoTech), a global digital solution provider for the insurance industry, leveraging its InsureMO® platform.
Investment in Belgian start-up allows company to accelerate growth and enable continuous innovation.
Trensition is a B2B AI-driven strategic intelligence company. It has built a platform fuelled by big data and in-house AI models to provide tailored trend insights to corporate clients, government entities and consultants. Trensition is a dependable long-term partner of Ageas in the context of Ageas’s annual trend-scanning exercise.
Ageas extends its reinsurance offering outside of the Group.
Under Impact24 Reinsurance is a key engine for future growth and is already a significant internal contributor to the profitability of the Group. Ageas also holds a 25% stake in Taiping Re. By developing the reinsurance activity through writing third-party business, Ageas will further increase the benefits from diversification.
Ageas acquires the remaining 25% stake of IDBI Bank in the Indian Life insurance joint venture Ageas Federal Life Insurance Company Ltd. (AFLIC).
With this transaction, Ageas increases to 74% its interest in a joint venture that it has operated together with IDBI Bank and Federal Bank since 2006. Federal Bank maintains its 26% stake in AFLIC while IDBI exits as a shareholder but remains a distribution partner.
Wim Guilliams named CFO Ageas and successor to Christophe Boizard
Wim Guilliams will take up his new role in June 2023 subject to regulatory approval, following the retirement of Christophe Boizard after a tenure of 11 years. Wim joined Ageas in 2015 and was formerly CFO of AG in Belgium. Most recently, he led the implementation of new IFRS17 accounting rules.
Ageas joins Net Zero Asset Owner Alliance (NZAOA) moving its long-term 2050 commitments for its investment portfolio to a 2030 partial target.
As the first Belgian Asset Owner to join NZAOA, Ageas has made a strong commitment to reduce the carbon intensity of the investment portfolio of its European consolidated entities by 50% by 2030.
