Presentation Ageas

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AGEAS Emma Daled 2AF05

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C ontent Advantages of investing Downsides Conclusion

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1. The advantages of investing

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1.1 Sizeable organization Annual inflows: 25 billion euros Market capitalization :7 billion euros Employees: + 40 000

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1.2 Presence in the world 12 countries Mature + emerging markets

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1.3 Dividend Between 40 and 50 % of its yearly insurance net result

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Gross dividend per share

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The earnings per share

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The share price at year end 2015: Share price € 33,7

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1.4 Solvency Ratio Meet long term fixed expenses Long term expansion & growth > 1.5 => Good !

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Solvency Ratio

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1.5 Reduced financial leverage 30% => 21 % => Group debt leverage below guidelines

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1.6 Peer analysis (Achmea/ Aegon )

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2. Downsides to investing

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2.1 Low profitability Measured by ROE or ROA Profitability under pressure

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2.2 The litigation risk Cause: restructuring Ageas in 2008 On-going legal procedures => risk negative financial impact

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3. Conclusion + Dividend + Solvency Ratio + Financial leverage + Sizeable organization + …. Profitability Litigation risk => Investing is a good idea !

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Sources Fitch (2014). Insurance . [ONLINE] Available at: https://www.ageas.com/sites/default/files/en/financial_information/text/Ageas_Published%20Report_10%20Dec%202014.pdf. [Last Accessed 22/03/2015 ]. Ageas (2015). Your partner in insurance . [ONLINE] Available at: https://www.ageas.com/en/investors/why-look-ageas. [Last Accessed 20/03/2015 ]. Investing (2014). Ageas . [ONLINE] Available at: http://nl.investing.com/equities/ageas-ratios. [Last Accessed 22/03/2015]. De Tijd (2015). Ageas . [ONLINE] Available at: http://www.tijd.be/beurzen/Ageas.60011766. [Last Accessed 24/03/2015].

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