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Ageas boosts H1 2025 net inflows 17% to EUR 12.1 billion
The insurer also reported a higher net operating result of EUR 776 million for the first half, while weather-related claims pushed the H1 combined ratio to 95.2%.
Ageas, an international insurance group, reported net inflows of EUR 12.1 billion for the first half of 2025, up 17% year over year, supported by improved performance across life and non-life businesses, despite elevated weather-related claims, according to Reinsurance News.
The company said its net operating result increased 6% to EUR 776 million in H1 2025. Non-life inflows rose 26% to EUR 4.48 billion, while life inflows grew 12% to EUR 7.596 billion, with growth across segments and regions including Belgium, Europe, and Asia.
Ageas also pointed to a stronger reinsurance third-party business, with inflows of EUR 355 million compared to EUR 277 million in H1 2024. However, non-life results were pressured by weather-related claims in Belgium and Portugal, contributing around 5 percentage points to the combined ratio, which reached 95.2% in H1 2025 versus 92.1% a year earlier.
For the full year, Ageas said it expects the impact of weather to account for around 3 percentage points on the Group combined ratio. The firm also cited effects from the sale of its stake in Etiqa and said its FY 2026 net operating result is expected to exceed EUR 1.95 billion, while it acquired the remaining 25% stake in AG Insurance from BNP Paribas Fortis to gain full ownership of its Belgian subsidiary.