Ageas Re

Ageas Re opening Zurich Branch, moves to larger offices and appoints Anne Deister Branch Manager. We are very pleased to inform you about the incorporation of our Ageas SA/NV Zurich Branch (ageas SA/NV, Brussels, Swiss Branch Zurich).   Going forward, we will be able to write reinsurance contracts also from Zurich directly on the established paper of Ageas SA/NV. For our clients and partners this means no change in terms of security of the risk carrier, the risk carrier continues to be Ageas SA/NV. However with the incorporation of a Branch in Switzerland we enable our Zurich based underwriters to write business on behalf of Ageas SA/NV.   Therefore please note that all business incepting from 1/1/2025 onwards that is handled by underwriters in Zurich, can now be signed and stamped in Zurich. Currently within scope are all casualty lines of business worldwide and property for the regions DACH, Central and Eastern Europe and Nordics. Further I am pleased that Anne Deister will take on the role of Branch Manager. Congratulations ! To keep up with our growth, we also changed offices. Since November 4th, you will find us in the same beautiful building, but with just some more space. The new address is General-Guisan-Quai 34, CH – 8002 Zürich.

I am very happy to share that Sylvie Hirn joined Ageas Re to head our Credit & Bond business. Sylvie brings a wealth of experience both on the direct credit insurance and on the reinsurance side to Ageas Re. She will develop our client offering and build team and platform for this new Line of Business for Ageas Re. A very warm welcome, Sylvie !

A very warm welcome to Noël Ammann ! He joined today as Senior Underwriter Casualty at Ageas Re. Noël will be working on global casualty and motor lines, together with Stephan Rappaz, based out of our Zurich office. I am very much looking forward to working together !

I am pleased to report yet another strong set of results from Ageas Re. We could increase Inflows from EUR 908m in H1/23 to EUR 1.2bn in the first half of this year. This growth was supported by both our Capital Management Treaties (Group Quota Shares) and also Protection, which almost doubled from EUR 141m in H1/23 to EUR 279m in H1/24. A key driver for growth was our third party reinsurance activity that saw very strong renewals with GWP of 108m at 1/1 and successful renewals at later renewal dates. The combined ratio increased to 93.1% also due to our adding of Casualty lines (mainly Motor) to the overall portfolio, which diversify the CAT risk and in principle have a less volatile combined ratio. Overall, we could contribute EUR 67m to the Ageas group first half Net Operating Result, also thanks to the increasing positive contribution of 3rd party business. Ageas Re shows an Operational Capital Generation of EUR 73m. I would like to congratulate the team for delivering yet another strong result and impressive growth. https://lnkd.in/eDNvQx29

🚀 Exciting news from Ageas Re! In its inaugural year of operation, Ageas Re’s decision to open its reinsurance activity to third parties outside its Group perimeter has garnered an incredible response from the market. As a key engine for future growth of Ageas, Ageas Re remains committed to becoming a full-service reinsurer across all major lines of business and geographies. 🌐 Stay tuned for more updates as we continue to build on our strong foundations! 💪 📌 https://lnkd.in/eJmhZ95P #Reinsurance #FinancialServices

Ageas Re profit exceeds EUR 100m in 2023, Strong January 2024 Renewals   In 2023, Ageas Re for the first time delivers a Net Profit exceeding the EUR 100m threshold (101m), with an excellent Combined Ratio of 84.1% for its Protection book. The Protection inflows stood at EUR 261m, up from EUR 179m last year, while overall inflows including Capital Management reinsurance stood at 1.8bn). Growth was driven by increased inflows from the UK and Taiping Re as well as the new third-party book that contributed ca. EUR 40m to the inflows in 2023. The growth of the protection business develops fully in line with the business plan thanks to the successful 1 January renewal campaign with Ageas Re writing EUR 108 million in its third party book, compared to EUR 29 (at 1/1) million last year. Ageas Re could show strong profitable growth in Property lines, as foreseen in the plan. The Zurich-based Casualty underwriting platform achieved a strong start in its first renewal, contributing around half of the 1 January inflows. This is an important step to achieve a good portfolio balance between property and casualty lines. I would like to thank our clients and brokers that keep supporting Ageas Re’s ambitions and each and every colleague within Ageas Re for their contributions and commitment to building our franchise. https://lnkd.in/enpuV9ir