Ageas: revenues up 17% in H1 2026, annual target confirmed
Ageas published its first-half results on August 27, 2026, marked by a 17% increase in revenues. Beyond this progression and that of profit, the Belgian insurance group raised its cash generation forecast for 2026 and confirmed an annual profit target exceeding 1.95 billion euros.
First half: revenues and operating profit on the rise
Over the first six months of 2026, Ageas revenues reached 12.1 billion euros, up 17% compared to the first half of 2025. The group attributes this growth to Life insurance sales across all its regions and to the expansion of the Non-Life segment.
Operating net profit stood at 776 million euros, up 6% year-on-year. Ageas notes that this increase was driven by Life results and by the performance of the Non-Life segment, despite claims related to weather conditions in Belgium and Portugal.
Cash generation raised above expectations
Operating capital generated during the period reached 1.1 billion euros. The group also raised its forecast for cash generation from its insurance entities for 2026, now expected at over 1.4 billion euros, or 49% more than the previous year and above its previous forecast.
This cash generation supports the payment of a gross interim dividend of 1.50 euros per share scheduled for December.
Annual target confirmed above 1.95 billion euros
Ageas confirmed its target of operating net profit exceeding 1.95 billion euros for the full 2026 fiscal year. In parallel, the group continued the reorganization of its portfolio as part of its Elevate27 plan.
It acquired full ownership of AG Insurance, concluded an agreement to sell its Malaysian stake to Maybank for 1.1 billion euros and strengthened its position in the Chinese pension market through its investment in Taiping Pension. The sale of the 30.95% stake in Maybank Ageas Holdings Berhad, announced on August 4, 2026, is expected to generate a net gain of approximately 450 million euros after taxes.
