Ageas Sa/nv · EURONEXT:AGS
Ageas Sa/nv — FY2022 Earnings Presentation
68 slides from Ageas Sa/nv's earnings presentation, Feb 22, 2023
Slide 1: FY 2022 Results
FY 2022 RESULTS Periodical Financial Information
Slide 2: Content
CONTENT Slides used during analysts call 3 Segment information 16 Equity & Solvency 46 Investment portfolio 58 General Information 63 Periodical Financial Information I FY 2022 Results I 22 February 2022
Slide 3: Ageas Main messages
Ageas Main messages Strong operating performance with negative impact from financial markets Results ● Net result at EUR 1,011 mio, including EUR 140 mio RPN(i) ● Result excluding RPN(i) above EUR 1 bn when excluding market impact in Asia and non- recurring gains ● Strong operating performance acros
Slide 4: Net result excluding market impact in Asia & non-recurring gains
Ageas Main messages In EUR mio Net result excluding market impact in Asia & other non-recurring gains above EUR 1 bn Group Net result 1,011 RPN(i) 140 Group Net Result excluding RPN(i) 871 Net capital losses in Asia (196) Impact from discount rate curve (VIR) in China (236) Capital gain from sale of
Slide 5: Ageas Headlines
Ageas Headlines Strong operating performance - negative impact from adverse financial markets Net result: Strong Life result, Non-Life Inflows* up on new business sales in Life Technical Liabilities*: impacted by impacted by weather and inflation China market volatility in UL In EUR mio In EUR bn, @
Slide 6: Progress on Impact24 targets
Ageas Progress on Impact24 targets All capital metrics on track Dividend Holding Free Cash Flow Operational Free Capital 3-year cumulative EUR 1.65 – 1.8 bn 3-year cumulative EUR 1.7 – 2.1 bn Generation DPS growth 6-10% Fully covering FCF other Up 9% Asia Europe Operational Holding costs Holding Fre
Slide 7: Belgium Headlines
Belgium Headlines Strong performance in both Life and Non-Life Net result: Solid Life result, supported by cap Inflows: Solid growth in Non-Life & Group Life Technical Liabilities excl. shadow slightly gains - Strong Non-Life performance Life - Lower in Retail Life UL & Guaranteed down on UL due to
Slide 8: Europe Headlines
Europe Headlines Result impacted by weather and (hyper)inflation Net result: Strong Life performance – Non- Inflows*: Down in a competitive UK Non- Life Technical Liabilities: down on market Life down on weather and (hyper)inflation Life landscape and UL products in Portugal movements In EUR mio In
Slide 9: Asia Headlines
Asia Headlines Excellent operating performance – negative impact from adverse financial markets Net Result: down on net capital losses & Inflows*: growth in both Life & Non-Life, Life Technical Liabilities: up 13% over the discount rate – underlying strongly up supported by a strong Q4 year on new b
Slide 10: Reinsurance Headlines
Reinsurance Headlines Net result contribution impacted by Motor claims inflation and adverse weather Net result: impacted by inflation and weather Inflows: ≈EUR 1.4bn from QS COR: impact from adverse weather In EUR mio In % NEP In EUR mio 1,623 1,576 87 43 1,579 1,546 350 330 43 99.3 105.5 11 95.6 9
Slide 11: General account Headlines
General account Headlines Result driven by RPN(i) revaluation and FRESH liability management action Net result RPN(i) impact on P&L Expenses In EUR mio In EUR mio* 155 123 140 112 115 26 35 32 31 5 23 2 7 (225) 55 72 (101) 20 25 (16) 27 25 6 5 FY 21 FY 22 Q4 21 Q4 22 Q4 21 Q4 22 FY 21 FY 22 Q4 21 Q4
Slide 12: General account Cash position
General account Cash position In EUR mio Cash down on return to shareholders and debtholders Interim (270) 753 (495) (96) RO (31) (56) CC (132) (127) (28) 1,105 624 FY 21 Upstream Dividend SBB Invest/divest Expenses Liability Other FY 22 in business management ● Invest in business mainly includes th
Slide 13: Solvency II ageas
Solvency IIageas Solvency up 21 pp on operations & rising rates – Q4 down on Fresh transaction 9.5 8.1 8.1 7.6 7.3 7.3 5.2 6.1 4.0 4.4 5.2 5.3 3.9 4.1 4.0 Own Funds 3.2 3.0 3.1 1.9 1.9 2.1 4.1 4.3 SCR 1.0 3.2 3.4 3.8 3.7 0.8 2.9 2.2 2.2 0.9 0.9 0.8 0.9 0.9 1.0 0.7 1.1 1.0 1.1 0.5 0.4 0.5 0.7 0.8 0.5
Slide 14: Operational Free Capital Generation contribution by segment
Solvency II Operational Free Capital Generation In EUR mio Contribution by segment @Ageas’ share OFCG Operational OF SCR OFCG FY'21 Belgium 522 (31) 578 365 Europe 116 (52) 194 148 Reinsurance 46 57 (53) 61 OFCG Geographical (1) 2 17 OF SCR OFCG FY'21 diversification Solvency II 683 (28) 721 591 Sco
Slide 15: Content
CONTENT Slides used during analysts call 3 Segment information 16 Equity & Solvency 46 Investment portfolio 58 General Information 63 Periodical Financial Information I FY 2022 Results I 22 February 2022
Slide 16: Ageas Inflows @Ageas' share
Ageas Inflows @Ageas’ share Up driven by Asia and by Non-Life Life Non-Life Total EUR mio, @Ageas' share FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 Belgium 75% 3,274 3,155 (4%) 1,732 1,802 4% 5,006 4,957 (1%) Europe 1,280 976 (24%) 2,467 2,402 (3%) 3,746 3,378 (10%) Portugal 51% - 100% 772 579 (25%) 822 89
Slide 17: Ageas Net result
Ageas Net result Result impacted by market volatility - Strong underlying performance EUR mio FY 21 FY 22 Q4 21 Q4 22 Belgium 400 464 16% 113 130 15% Life 322 324 1% 95 95 1% Non-Life 79 140 78% 18 35 - Europe 180 116 (35%) 39 1 (99%) Life 57 58 2% 14 17 19% Non-Life 123 59 (52%) 25 (17) - Asia 403
Slide 18: Capital gains
Capital gains Lower contribution of net capital gains EUR mio FY 21 FY 22 Q4 21 Q4 22 Belgium 125 140 47 75 Life 105 120 39 64 Non-Life 20 20 9 11 Europe 18 22 7 11 Life 11 14 3 7 Non-Life 7 8 4 5 Asia 77 (196) (16) (23) Life 69 (192) (17) (23) Non-Life 8 (4) 1 0 Reinsurance 0 0 0 0 Insurance 220 (3
Slide 19: Ageas Cash upstream
Ageas Cash upstream Record upstream covering base dividend and holding costs 753 753 726 Reas 658 87 HQ & RO 632 China expenses Reas 11 Asia 118 601 172 163 Reas 8 Asia Asia Asia 87 123 144 Thailand 7 Asia SBB 516 92 Malaysia 16 534 96 India 3 Asia Europe Europe Europe UK Europe 130 143 Europe Asia
Slide 20: Ageas Shareholder return
Ageas Shareholder return 6.9%* 6.5% 5.6% 5.3% 5.3% 5.0% 5.0% 4.9% 5.1% 4.7% 4.6% 4.4% 3.7% 0.40 2.9% 3.00 2.65 2.65 2.75 2.10 2.20 1.55 1.65 1.70 1.40 1.20 0.80 0.80 0.80 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Gross dividend / share Additional dividend / share Dividend
Slide 21: Ageas Headlines
Ageas Headlines Strong operating performance - negative impact from adverse financial markets Net result: Strong Life result, Non-Life Inflows* up on new business sales in Life Technical Liabilities*: impacted by impacted by weather and inflation China market volatility in UL In EUR mio In EUR bn, @
Slide 22: Ageas Combined ratio
Ageas Combined ratio In % NEP COR on target when excluding exceptional weather Expense Ratio Claims Ratio Prior Year claims ratio Accident & Health 101.1 102.5 96.5 96.3 97.2 98.3 101.9 95.2 94.3 95.0 94.8 93.7 94.7 92.3 92.8 92.9 95.3 91.3 23.2 26.0 23.4 23.6 23.7 27.2 27.5 25.4 25.9 34.1 34.3 35.5
Slide 23: Ageas Operating margins
Ageas Operating margins In bps Avg Techn. Liabilities Both Life margins reaching the target range @100% Life Guaranteed Life Unit-Linked Expense & other margin Investment margin Underwriting margin 91 102 99 105 Expense & other margin Investment margin Underwriting margin 93 93 88 88 90 40 35 36 37
Slide 24: Belgium Headlines
Belgium Headlines Strong performance in both Life and Non-Life Net result: Solid Life result, supported by cap Inflows: Solid growth in Non-Life & Group Life Technical Liabilities excl. shadow slightly gains - Strong Non-Life performance Life - Lower in Retail Life UL & Guaranteed down on UL due to
Slide 25: Belgium Net result
Belgium Net result Strong net result contribution in life & non-life Net Result In EUR mio 476 418 152 ● Life: Strong result with capital gains, mainly on Real Estate, 97 130 more than compensating for lower investment income 127 32 35 322 324 ● Non-Life: Strong result supported by excellent 95 95 p
Slide 26: Belgium Inflows
Belgium Inflows In EUR mio @Ageas’ share Strong Non-Life growth in a mature market 3,274 -4%3,155 Life Non-Life +4% 1,802 1,732 187 877 179 857 -7% Other 591 549 Unit-Linked +6% 890 831 Household 386 408 217 41 222 514 534 40 2,398 2,298 Motor 128 139 Guaranteed 673 609 117 120 Accident & Health 490
Slide 27: Belgium Combined ratio
Belgium Combined ratio In % NEP Excellent operating performance Accident & Health 103.4 102.8 109.6 97.6 95.4 100.6 99.6 100.3 94.9 21.0 Claims Ratio Expense Ratio Prior Year claims ratio 22.2 22.8 21.1 27.6 24.4 25.1 26.9 24.4 96.0 91.0 93.4 95.2 96.3 93.8 92.5 96.2 90.3 80.6 81.7 88.6 70.0 71.0 76
Slide 28: Belgium Operating margins
Belgium Operating margins In bps Avg Techn. Liabilities Guaranteed within target range - Unit-Linked exceeding target range @100% Life Guaranteed Life Unit-Linked Investment margin Underwriting margin Expense & other margin Expense & other margin Investment margin Underwriting margin 109 98 97 89 86
Slide 29: Belgium Assets & Liabilities
Belgium Assets & Liabilities Strong new money yield FY 19 FY 20 FY 21 FY 22 Back book Guaranteed interest rate 1.95% 1.78% 1.69% 1.59% Life Fixed income yield 3.06% 2.92% 2.85% 2.85% Liabilities Guaranteed excl. 48.4 48.1 46.5 (*) 46.5 shadow accounting (EUR bn) FY 19 FY 20 FY 21 FY 22 New money Fix
Slide 30: Belgium Assets & Liabilities
Belgium Assets & Liabilities Average rate on back book decreasing in line with evolution yield fixed income 50,000 5.0% 45,000 4.5% 40,000 4.0% 35,000 3.5% 30,000 3.0% 25,000 2.5% 20,000 2.0% 15,000 1.5% 10,000 1.0% 5,000 0.5% 0 0.0% 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 L
Slide 31: Europe Headlines
Europe Headlines Result impacted by weather and (hyper)inflation Net result: Strong Life performance – Non- Inflows*: Down in a competitive UK Non- Life Technical Liabilities: down on market Life down on weather and (hyper)inflation Life landscape and UL products in Portugal movements In EUR mio In
Slide 32: Europe Net result
Europe Net result Strong Life result - Non-Life affected by hyperinflation, claims inflation & weather Net Result In EUR mio ● Life: - Solid FY result, driven by higher financial income and capital gains in Portugal 218 - FY impact from hyperinflation on AgeSa (EUR -15 mio) 45 ● Non-Life: 161 107 -
Slide 33: Europe Inflows
Europe Inflows In EUR mio, @Ageas’ share Inflows impacted by lower volumes in the UK and higher interest rates in Portugal Life Non-Life 2,467 2,402 1,280 Other 280 258 976 Household 559 517 Unit-Linked 720 625 343 545 470 74 226 35 Motor 1,154 1,106 159 132 197 99 279 247 Guaranteed 560 506 145 129
Slide 34: Europe Combined ratio
Europe Combined ratio In % NEP Combined ratio impacted by claims inflation and weather events Accident & Health 89.3 89.2 91.3 88.5 88.4 89.5 92.4 92.2 85.5 28.3 27.1 28.5 25.7 25.7 24.9 27.8 26.2 27.3 Claims Ratio Expense Ratio Prior Year claims ratio 108.4 61.0 62.1 62.8 58.3 62.8 62.8 64.5 64.6 6
Slide 35: Europe Operating margins
Europe Operating margins In bps Avg Techn. Liabilities Solid operating margins @100% Life Guaranteed Life Unit-Linked Expense & other margin Investment margin Underwriting margin Expense & other margin Underwriting margin Investment margin 139 121 90 130 108 159 108 105 86 106 91 65 38 76 80 66 61 7
Slide 36: Asia Headlines
Asia Headlines Excellent operating performance – negative impact from adverse financial markets Net Result: down on net capital losses & Inflows*: growth in both Life & Non-Life, Life Technical Liabilities: up 13% over the discount rate – underlying strongly up supported by a strong Q4 year on new b
Slide 37: Asia Inflows
Asia Inflows In EUR mio, @Ageas’ share Continued growth in Life and Non-life, driven by strong new business Life Non-Life 920 6,671 7,202 484 Unit-Linked 423 711 510 Other 382 228 6,247 6,717 156 92 Guaranteed 1,383 1,445 Household 80 117 101 88 284 65 22 1,282 1,357 Motor 220 20 64 7 81 Accident &
Slide 38: Asia Net result
Asia Net result Excellent operating performance – negative impact from adverse financial markets Net Result In EUR mio ● Life: – Excellent operating performance further supported 403 by positive FX, favourable claims experience & 40 expenses management – Negative net capital gains (EUR -192 mio in F
Slide 39: Asia Inflows per country
Asia Inflows per country In EUR mio, @Ageas’ share Inflows growth across region, driven by new business in Life & strong sales in Non-Life China: TPL 4% over FY 22, supported by Thailand: down 3% due to paid-up Malaysia: Life inflows down on product mix a strong Q4 (+14%) policies in Life change in
Slide 40: Reinsurance Headlines
Reinsurance Headlines Net result contribution impacted by Motor claims inflation and adverse weather Net result: impacted by inflation and weather Inflows: ≈EUR 1.4bn from QS COR: impact from adverse weather In EUR mio In % NEP In EUR mio 1,623 1,576 87 43 1,579 1,546 350 330 43 99.3 105.5 11 95.6 9
Slide 41: Reinsurance Net result
Reinsurance Net result Net result contribution impacted by Motor CY claims inflation and adverse weather Net Result Inflows 87 1,623 1,576 190 R/I excl. NL 209 Cap mgmt 31 43 350 330 25 R/I excl. NL R/I excl. NL 28 32 22 883 789 Cap mgmt cap mgmt Europe 38 203 173 Europe 6 Belgium 28 15 (16) Europe
Slide 42: General account Headlines
General account Headlines Result driven by RPN(i) revaluation and FRESH liability management action Net result RPN(i) impact on P&L Expenses In EUR mio In EUR mio* 155 123 140 112 115 26 35 32 31 5 23 2 7 (225) 55 72 (101) 20 25 (16) 27 25 6 5 FY 21 FY 22 Q4 21 Q4 22 Q4 21 Q4 22 FY 21 FY 22 Q4 21 Q4
Slide 43: General account Cash position
General account Cash position In EUR mio Cash down on return to shareholders and debtholders Interim (270) 753 (495) (96) RO (31) (56) CC (132) (127) (28) 1,105 624 FY 21 Upstream Dividend SBB Invest/divest Expenses Liability Other FY 22 in business management ● Invest in business mainly includes th
Slide 44: Outstanding hybrids
Outstanding hybrids In EUR mio ageas SA/NV Ageasfinlux AG Insurance (Belgium) Fortis Bank (BNPPF) Fixed to Floating Perp Fixed Rate Fixed-to-Floating FRESH Fixed-to-Floating Fixed Rate Reset CASHES Rate Notes Reset Temporary Rate Callable Rate Callable Dated Subordinated Write-Down Notes Tier 2 Tier
Slide 45: Content
CONTENT Slides used during analysts call 3 Segment information 16 Equity & Solvency 46 Investment portfolio 58 General Information 63 Periodical Financial Information I FY 2022 Results I 22 February 2022
Slide 46: Equity Shareholder's equity
Equity Shareholder’s equity In EUR mio Equity down on lower unrealized capital gains following increase in interest rates Equity per share EUR 64.14 EUR 41.29 Equity per share EUR 43.43 EUR 45.61 excl. UG/L 1,011 (4,641) 11,914 Unrealised gains 3,847 & losses (765) (91) 21 150 (17) 7,582 8,067 8,376
Slide 47: Equity Tangible net equity
Equity Tangible net equity In EUR mio FY 21 FY 22 IFRS Shareholders' Equity 11,914 7,582 Unrealised gains real estate 680 738 Goodwill (616) (598) VOBA (Value of Business Acquired) (33) (150) DAC (Deferred Acquisition Cost) (418) (371) Other (673) (813) Goodwill, DAC, VOBA related to N-C interests 4
Slide 48: Solvency II ageas
Solvency IIageas Solvency up 21 pp on operations & rising rates – Q4 down on Fresh transaction 9.5 8.1 8.1 7.6 7.3 7.3 5.2 6.1 4.0 4.4 5.2 5.3 3.9 4.1 4.0 Own Funds 3.2 3.0 3.1 1.9 1.9 1.8 4.1 4.3 SCR 3.2 3.4 3.8 3.7 0.8 2.9 2.2 2.2 0.9 0.8 0.9 0.8 0.9 0.9 1.0 0.7 1.1 1.0 0.5 0.4 0.5 0.7 0.8 (1.4) 1
Slide 49: Solvency II ageas impact analysis
Solvency IIageas Solvency up 21 pp on operations & rising rates – Q4 down on Fresh transaction Y → Y M → YM Impact on solvencyIIageas %→ 8% %→ 8% OF SCR change OF SCR change Strong operational performance Operational 691 (46) 19pp SCR up in Q4 on ext. reinsurance 163 37 2pp Market movements Largely
Slide 50: Solvency II ageas Sensitivities
Solvency IIageas Sensitivities Solvency ratio providing resilience against market or other external evolutions As per 31/12/21 SCR OF Solvency Base case Before stress 4,128 8,135 197% Yield curve* Down 50 bps 4,318 7,962 184% Up 50 bps 3,935 8,200 208% Equity Down 25% 3,962 7,549 191% Corporate spre
Slide 51: Operational Free Capital Generation
Operational Free Capital Generation In EUR mio Group OFCG exceeding EUR 1 bn * 1,028 (1,864) (154) Expected 495 1,172 (41) (765) dividend 270 3,687 3,287 FY'21 Model & scope Market Operational Capital Investment Dividend FY'22 transactions in business ● Market: driven down by financial markets in As
Slide 52: Operational Free Capital Generation
Operational Free Capital Generation In EUR mio Operational capital creation across the group reflecting strong underlying performance 18,235 Available capital 495 (510) (3,442) (765) 15,249 1,791 (154) 95 270 Expected dividend concerns only Solvency II scope entities 17,740 14,979 FY'21 Model & scop
Slide 53: Contribution by segment @Ageas' share
Solvency II Operational Free Capital Generation In EUR mio Contribution by segment @Ageas’ share OFCG Operational OF SCR OFCG FY'21 Belgium 522 (31) 578 365 Europe 116 (52) 194 148 Reinsurance 46 57 (53) 61 OFCG Geographical (1) 2 17 OF SCR OFCG FY'21 diversification Solvency II 683 (28) 721 591 Sco
Slide 54: Solvency II PIM
Solvency II PIM In EUR bn Regulatory Solvency @206% 8.1 7.9 7.9 7.6 7.3 7.1 5.5 3.9 4.3 4.4 3.9 4.9 4.8 4.1 3.7 Own Funds 2.7 2.8 2.7 2.2 2.1 2.0 4.0 3.8 3.7 SCR 1.1 3.5 3.6 2.8 1.2 1.0 1.0 3.2 0.8 0.8 0.9 0.9 0.7 2.1 2.1 (1.3) 1.1 0.4 0.3 0.3 0.7 0.8 1.0 1.0 0.5 (1.6) (1.6) 0.5 0.5 0.6 0.2 0.2 0.2
Slide 55: Solvency II PIM Sensitivies
Solvency II PIM Sensitivies Ageas asset mix not in line with EIOPA reference portfolio As per 31/12/21 SCR OF Solvency Base case Before stress 4,226 7,956 188% Yield curve* Down 50 bps 4,378 7,804 178% Up 50 bps 4,083 8,056 197% Equity Down 25% 4,034 7,358 182% Corporate spread Up 50 bps 4,118 8,093
Slide 56: Solvency II Composition of SCR & OF
Solvency II Composition of SCR & OF In EUR bn Insurance SCRageas per risk type Life UW driven by increasing interest rates Tiering of Group PIM own funds 4.0 3.3 3.2 0.5 0.5 8.0 0.8 0.5 0.1 0.9 7.3 0.4 0.8 7.1 0.3 0.4 1.0 1.5 0.1 0.1 0.3 1.7 1.8 1.3 Non Diversifiable 1.3 0.2 0.2 Non-life UW 1.2 1.0
Slide 57: Content
CONTENT Slides used during analysts call 3 Segment information 16 Equity & Solvency 46 Investment portfolio 58 General Information 63 Periodical Financial Information I FY 2022 Results I 22 February 2022
Slide 58: Investment portfolio
Investment portfolio In EUR bn Down on lower UG/L due to steep i-rate increase 82.3 Cash 1.9 Real Estate 6.1 Equities 5.7 69.9 Cash 1.2 Gross UG/L on ● Fixed income: Real Estate 6.6 Loans Available for Sale ° Sovereigns at EUR (1.8) bn (vs. EUR 5.2 bn) 14.5 Equities 4.3 Structured 0.1 ° Corporates a
Slide 59: Investment portfolio fixed income
Investment portfolio In EUR bn Value fixed income assets down on lower UG/L Sovereign bond 35.5 Corporate bond 18.5 portfolio* Other 2.7 portfolio* Government Germany 1.1 related 2.5 Italy 1.5 Spain 2.4 15.1 27.1 Government Portugal 2.1 related 1.8 Other 2.9 Austria 2.5 Germany 0.9 Italy 1.0 Spain 1
Slide 60: Investment portfolio equity and loans
Investment portfolio In EUR bn Equity portfolio includes EUR 0.7 bn of UG/L 15.5 Loan portfolio 5.7 14.5 Equity Mixed funds & (customers portfolio* others 0.7 & banks)* Other 6.3 RE funds Other 5.5 0.9 4.3 Mixed funds & others 0.2 Equity RE funds funds 0.9 0.5 RE 0.4 Equity RE 0.5 funds 0.4 Loans to
Slide 61: Investment portfolio real estate
Investment portfolio In EUR bn 6.6 Real Estate 6.1 Warehouses 0.3 Warehouses 0.3 RE Dev. 0.2 ● Exposure mainly in Belgium portfolio* RE Dev. 0.2 Investment ● Gross UG/L ˃EUR 2.0 bn (not Investment Retail 1.4 reflected in shareholders’ equity Retail 1.5 but contributing to available capital for solve
Slide 62: Content
CONTENT Slides used during analysts call 3 Segment information 16 Equity & Solvency 46 Investment portfolio 58 General Information 63 Periodical Financial Information I FY 2022 Results I 22 February 2022
Slide 63: Ratings
Ratings S&P MOODY'S FITCH Holding ageas SA/NV A+ / Stable A1 / Stable AA- / Stable Last review 22/11/22 28/10/22 14/06/22 Operating entities AG Insurance (Belgium) A+ / Stable A1 / Stable AA- / Stable Last review 22/11/22 28/10/22 14/06/22 Ageas Insurance Limited A+ / Stable AA- / Stable Last review
Slide 64: ESG Ratings
ESG Ratings Ageas efforts on Sustainability diversely recognized by ESG rating agencies Rating agency 2018 2019 2020 2021 2022 ISS G 2 G 2 G 3 G 3 G 2 (The lower the score the better) S 8 S 10 S 4 S 2 S 2 E 7 E 7 E 6 E 5 E 4 Sustainalytics 114th out of 146 131th out of 252 65th out of 260 32th out o
Slide 65: Impact24 Non-financial & Sustainability targets
Impact24 Non-financial & Sustainability targets Target Performance 2021 Performance 2022 Competitive NPS Top quartile in all markets 25% 25% Percentage of GWP from products that stimulate the 25% 16 % 21 % transition to a more sustainable world Employee NPS Top quartile 62 56 GLASS CEILING INDEX (Vi
Slide 66: Impact24 Non-financial & Sustainability targets Definitions
Impact24 Non-financial & Sustainability targets Definitions - Competitive NPS (cNPS) measures the ranking of the Customer’s Net Promotor Score against main insurance competitors in the local market. Of the consolidated entities, the Ageas cNPS top quartile target was realised in the UK while other e
Slide 67: Outstanding shares
Outstanding shares Situation 31/12/2021 Situation 31/12/2022 Total Issued Shares 191,033,128 189,731,187 Shares not entitled to dividend nor voting rights 9,229,054 9,533,673 1. TREASURY SHARES Share buy-back 1,301,941 2,092,148 FRESH 1,219,048 1,219,048 Other treasury shares* 2,749,206 2,749,206 2.
Slide 68: Investor Relations
Investor Relations Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on Tel: + 32 2 557 57 32 management's current views and assumptions and involve known and E-mail: ir@ageas.com unknown risks and uncertainties that