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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)
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Publication:SeeNews Belgium
Article Type:Financial report
Date:Jun 27, 2014
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