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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Ageas    AGS   BE0974264930

AGEAS

(AGS)
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Ageas : announces changes in the Executive Committee

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04/16/2019 | 11:33am EDT

(GlobeNewswire) - In view of the upcoming General Shareholders Meeting, Ageas announces today that Filip Coremans will take up new responsibilities within the Executive Committee to become Ageass first Chief Development Officer (CDO). Emmanuel Van Grimbergen, currently Group Risk Officer (CRO), will succeed Filip as Chief Risk Officer.

Since announcing Connect21 - Ageass new 3-year strategic plan - in September 2018, considerable thought has been given to the best way for Ageas to support delivery of the Connect21 strategic choices. Those choices include delivering a great customer experience together with our partners and through alliances, providing insurance protection and services beyond insurance to assist customers to prepare for the future, protecting them and preventing events from happening by leveraging technology and creating smart synergies.

The creation of a dedicated Development Office fully focused on driving some of the more transformational elements of our strategy beyond business as usual, will provide the right setting for the Group to grow, to drive smart synergies and to innovate, allowing it to realise the Connect21 ambitions. Current CRO, Filip Coremans will become Ageass first Chief Development Officer (CDO) to lead this newly created office that will pay special attention to the multiple competences that will be needed to realise Connect21 and will identify, initiate and coordinate synergetic initiatives in the domains of Business Development, Human Resources & Technology.

Following Filip Coremans new role, Emmanuel Van Grimbergen will become the new Chief Risk Officer (CRO) with responsibility for Risk, Compliance and Actuarial Function. As CRO and newly appointed member of the Ageas Executive Committee, Emmanuel will also be proposed to be appointed as executive member of the Ageas Board at the Shareholders Meeting.

The proposed changes have been approved by the National Bank of Belgium. Subject to approval of the nomination of Emmanuel Van Grimbergen by the General Shareholders Meeting on 15 May 2019, changes will take effect on 1 June 2019.

Ageas is a listed international insurance Group with a heritage spanning almost 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow. As one of Europe`s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 45,000 people and reported annual inflows of over EUR 34 billion in 2018 (all figures at 100%).

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(c) 2019 News Central Asia (nCa). All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2019 9 182 M
EBIT 2019 1 080 M
Net income 2019 833 M
Debt 2019 -
Yield 2019 4,89%
P/E ratio 2019 10,88
P/E ratio 2020 10,31
Capi. / Sales 2019 1,03x
Capi. / Sales 2020 0,98x
Capitalization 9 457 M
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Mean consensus HOLD
Number of Analysts 15
Average target price 43,6 €
Spread / Average Target -6,4%
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Managers
NameTitle
Bart Karel de Smet Chief Executive Officer & Executive Director
Jozef G. de Mey Chairman
António Cano Chief Operating Officer & Director
Christophe Boizard Chief Financial Officer & Executive Director
Guy Jacques Marie de Selliers de Moranville Vice Chairman
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