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Results – March 2024

Find out the results of the insurance market in March 2024.

 
Annual insurance results at Belfius

At Belfius Insurance, non-life (excluding Health) premium income at group level increased from 771 million euros to 822 million euros in 2023: +7.8% in the bancassurance channel (including Belfius Direct Insurance), +8% at DVV.

Total Life reserves increased from 13.7 billion to 14.2 billion euros in 2023. Premium income for Life Investment branch 21 increased by 24% in 2023

(Source)

 

Ageas publishes its results for the fiscal year 2023

Overall, Ageas achieved a strong commercial performance in 2023, with premium income up by 8% in local currency.

  • The strong operational performance is reflected in the margins of guaranteed products in Life and unit-linked products, which stand at 124 and 39 basis points respectively, as well as in the Non-Life combined ratio of 93.3%.
  • The net operational result of 1.166 billion euros is well within the upper half of the initially projected range of 1.1 to 1.2 billion euros.
  • The solid commercial performance also resulted in operational capital generation of 1.8 billion euros, including both Solvency II scope entities and others.
  • Available operational capital generation amounted to 1.2 billion euros.
  • In Belgium, premium income increased by 2% thanks to strong growth in Non-Life (+11%), which more than offset the decrease in Life premium income (-2%).
  • The solid operational performance also resulted in operational capital generation of 573 million euros.

(Source)

 

Allianz Benelux closes the year 2023 with an operational result of 321.5 million euros.

(Source)

 

Annual results for 2023 of AXA Belgium & Luxembourg

AXA Belgium & Luxembourg shows positive growth across all its lines of business: the annual turnover for 2023 amounts to 4,153 million euros, a growth of +7% compared to 2022. The operational result for 2023 amounts to 429 million euros, an increase of +12% compared to 2022.

  • In Property & Casualty insurance, turnover increased by +5.2% to reach 2,431 million euros.
  • Turnover in Health insurance increased by +16.0% to reach 264 million euros, supported by the continuous improvement of customer experience, notably through the provision of innovative digital services.
  • In Life insurance, growth amounted to +9.3% reaching 1,458 million euros.
  • The operational result amounted to 429 million euros, an increase of 12.2%, supported notably by a reduction in the charge related to weather events.
(Source)
 
 
 
 

 

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