Delivering on our targets

As part of Connect21 we set out clear financial targets. Here is a quick reminder of what those targets are, and importantly how Ageas has delivered against them in 2020.

Delivering on our targets
Hans De Cuyper, CEO Ageas

We can be proud of the way we navigated through a challenging 2020. Our top line revenue decreased only marginally compared to 2019. This is impressive, considering that our distribution is mainly ‘customer facing’, through agents, brokers and bancassurance. Despite the COVID-19 context, we delivered excellent results, benefitting more than ever from the geographic diversification, our well-balanced product portfolio, our solid balance sheet and prudent management. 2020 was the second year of our 3-year strategic plan Connect21 and it was important that we kept our minds firmly focused on our strategic goals, targets and ESG commitment. The excellent result, our strong balance sheet, the comfortable cash position and stable solvency margin, allow us to propose a gross cash dividend of EUR 2.65 per share to our shareholders.

Hans De Cuyper, CEO Ageas

Our progress on the Connect21 targets

target
96

%

Combined ratio Non-Life

Result

91dot3
%

target
175

%

Group Solvency II ratio

Result

193
%

target
≥ 50

%

Dividend range

Result

56
%

target
30-40

bps

Life Operating Margin Unit-Linked

Result

29
bps

target
≥ 50

%

Dividend range

Result

56
%

target
5-7

%

Earnings per share CAGR

Result

22
%

At a glance: 5-year evolution of our performance

Look back at how Ageas has delivered a consistently strong performance over the past 5 years against a range of key performance indicators.