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2016-02-17

Ageas: Ageas reports Full Year 2015 Results

* Insurance net profit of EUR 755 million with a record performance in Asia
and solid results in Belgium
* Strong Non-Life results despite December floods in the UK
* Insurance Solvency IIageasratio at 182 %
* Proposed gross cash dividend of EUR 1.65, up 6.5% compared to last year

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| Full Year 2015 |
| Profit * Insurance net profit ofEUR 755 million (vs. EUR 737 million) with Asia and |
| Belgium as main contributors |
| * Life results marked by financial market volatility both in Asia and |
| Continental Europe |
| * Non-Life profit growth driven by excellent performance in Belgium and |
| Continental Europe |
| * Group net profit atEUR 770 million (vsEUR 476 million) ; General Account |
| net result of EUR 15 million |
| Inflows * Group inflows (at 100%) atEUR 29.8 billion , up 16% (9% positive foreign |
| exchange impact) Group inflows (Ageas's part) grew 10% to EUR 13.7 billion |
| (7% positive foreign exchange impact) |
| * Life inflows up 19% to EUR 23.5 billion andNon-Life up 4% to EUR 6.3 |
| billion (both at 100%) |
| Operating * Combined ratio at96.8 % versus 99.6% supported by excellent operating |
| performance in Belgium and Continental Europe but partly offset by the |
|Performance December floods in the UK |
| * Operating Margin Guaranteed at90 bps versus 89 bps -Operating Margin |
| Unit-Linked at36 bps versus 20 bps |
| * Life Technical Liabilities of consolidated entities atEUR 74.1 billion (- |
| 1%) |
| Balance Sheet * Shareholders' equity up toEUR 11.4 billion orEUR 53.59 per share |
| * Insurance solvency I ratio at226% andG roup solvency at228% |
| * Insurance solvency IIageas at182% andGroup solvency II at212% |
| * General Account net cash position atEUR 1.3 billion |
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All full year 2015 figures are compared to the full year 2014 figures unless
otherwise stated.

Ageas CEO Bart De Smet said:
"2015 was a very good year for the Group underpinned in particular by
excellent results from our Asian Life business and a solid performance in
Belgium. This performance was achieved against a backdrop of volatile equity
markets in Asia and Europe. Our Non-Life performance was excellent,
notwithstanding the impact of EUR 64 million from the December floods in UK.

When we look back at the past 3 years, we can confidently say that we made
good progress against our Vision 2015 choices and targets. With Vietnam and
the Philippines, we entered two new growth markets in Asia. We are also in
the process of closing the acquisition of AXA Portugal, which moves us to the
No.3 position in the Portuguese Non-Life market, and divesting our Hong Kong
activities. Our Vision 2015 strategy brought an increased focus on financial
targets for our Group. We achieved sustainable growth and improved our
operating performance, and have largely delivered on our promises. Building
on our past achievements, we launched 'Ambition 2018' at the end of 2015,
including more refined financial targets and a sharpened strategic focus
centred on the key trends impacting our business.

An important change in regulation, Solvency II, went live on January 1st,
2016. After years of detailed preparation, Ageas transitioned smoothly, and
based on our 2015 results, our current insurance Solvency II ratio exceeds
our target.

2015 was also another year in which we delivered for our shareholders. We
launched our 5thconsecutive share buy-back programme, and, over the course of
the year, the Ageas share was the best performing insurance stock in Europe.
Based on our results we will propose to our shareholders a 6.5% increase in
the gross cash dividend to EUR 1.65 per share."

Pdf version of the press release
http://hugin.info/134212/R/1986668/728961.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ageas via Globenewswire

HUG#1986668

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