Printer Friendly

Stormy weather to drag down Ageas's Q2 profit by up to EUR 25m.

(SeeNews) - Jun 27, 2014 - Belgian insurerA AgeasA (EBR:AGS) said Friday it expects the stormy weather on June 7 and 8 to weigh on its net insurance result in the second quarter of 2014.

The negative impact is estimated at between EUR 20 million (USD 27.2m) and EUR 25 million, based on current information, after reinsurance and taxes.

AG Insurance, the Belgian insurer which is 75%-owned by Ageas, expects more than 30,000 claims of an estimated gross amount of EUR 70 million, before reinsurance.A

Ageas's first-half results, which will be published on August 6, will contain more detailed information, the insurer said.

(EUR 1.0 = USD 1.361)
COPYRIGHT 2014 AII Data Processing Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:SeeNews Belgium
Article Type:Financial report
Date:Jun 27, 2014
Words:112
Previous Article:Belgian law firm Laga to buy smaller rival Greenille.
Next Article:Belgium's university hospital in Liege starts tender for supply of computers, periphery.
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters