Company Overview - Ageas Re, the reinsurance arm of Ageas Group, has entered into a reinsurance agreement with Slovenian insurer Triglav Group to enhance its business portfolio and support Ageas's Elevate27 growth strategy [1][3] - Triglav Group is the largest insurance-financial group in the Adria region and operates in six countries, focusing on insurance and asset management [7] - Prima Assicurazioni, a rapidly growing insurtech company, has become the number one direct Motor insurance distributor in Italy since its inception in 2015, generating EUR 1.3 billion in gross written premiums in 2024 [2][6] Partnership Details - Under the agreement, Ageas Re will take an 80% Quota Share on the Prima business underwritten by Triglav Group starting in 2025 [2] - The partnership aims to leverage the tech-driven capabilities of Prima to achieve profitable growth in the attractive European Non-Life insurance market, which generates over EUR 15 billion in premiums [3] Financial Projections - Ageas Re anticipates inflows exceeding EUR 500 million from this transaction in 2025, with a projected Net Operating Result of around EUR 15 million spread over 2025 and 2026 [4] - The impact on Group Solvency is estimated to be no more than -4 points in 2025 [4] Strategic Alignment - The agreement aligns with Ageas's Elevate27 strategy, which focuses on profitable growth in the European Non-Life market [3][5] - Triglav Group aims to enhance its international recognition and expand beyond existing markets through this partnership [5][7]

Group 1 - Ageas has increased its capital by EUR 550 million as part of the esure acquisition agreement, resulting in a total capital of EUR 1,590,019,077.44 and an increase in outstanding shares to 198,938,286 due to the issuance of 10,967,099 new shares [1] - Each outstanding share of Ageas SA/NV confers one voting right, and there are no other securities conferring voting rights [1] - The newly issued shares are listed on the regulated market of Euronext Brussels as of 17 April 2025 [2] Group 2 - Ageas is a listed international insurance group with a 200-year heritage, offering both Life and Non-Life insurance products tailored to customer needs [3] - The company operates primarily in Europe and Asia, which are significant markets in the global insurance sector, and ranks among market leaders in the countries where it operates [3] - Ageas employs approximately 50,000 people and reported annual inflows of EUR 18.5 billion in 2024 [3]

Summary of Ageas Share Buy-Back Programme Core Viewpoint - Ageas has reported the progress of its share buy-back programme initiated on 28 August 2024, detailing the purchase of 386,653 shares from 07-04-2025 to 11-04-2025 [1]. Group 1: Share Buy-Back Details - The total number of shares bought back during the specified period is 386,653, with a total expenditure of EUR 19,470,499 [2]. - The average price per share during this period was EUR 50.36, with the lowest price recorded at EUR 48.42 and the highest at EUR 53.20 [2]. - Since the start of the buy-back programme on 16 September 2024, Ageas has repurchased a total of 2,920,905 shares, amounting to EUR 144,016,633, which represents 1.55% of the total shares outstanding [2]. Group 2: Additional Information - An overview of the share buy-back programme is available on the company's website [3].

Core Viewpoint - Ageas has reached an agreement with Bain Capital to acquire esure for GBP 1.295 billion (EUR 1.510 billion), aiming to create a top-3 personal lines insurance platform in the UK, enhancing its market presence and shareholder value through synergies and cash generation [1][2][10]. Group 1: Acquisition Details - The acquisition will allow Ageas UK to diversify its distribution strategy, particularly in the price comparison website (PCW) channel, and is projected to grow its top-line to GBP 3.25 billion (EUR 3.8 billion) by 2028 [2][4]. - Ageas UK has focused on profitable growth in personal lines over the past four years, serving over 4 million customers [3]. - esure, with over 2.1 million policies and gross written premium (GWP) of GBP 1 billion (EUR 1.2 billion) in 2024, operates a fully digital distribution model [4][17]. Group 2: Financial Implications - The transaction is expected to generate annual cost savings exceeding GBP 100 million (approximately EUR 115 million) before tax, with an unlevered return on investment of over 12% and an uplift in Return on Equity of more than 1 percentage point [8]. - Ageas will finance the acquisition through surplus cash and newly issued debt/equity, maintaining a robust capital position with a Solvency II ratio expected to decrease by only about 10 percentage points [6][7]. Group 3: Strategic Alignment - The acquisition aligns with Ageas's Elevate27 strategic priorities, focusing on high cash conversion businesses and expanding its customer reach through a multi-channel distribution model [1][10]. - The integration of Ageas UK and esure is anticipated to be completed during the Elevate27 strategic cycle, enhancing the combined entity's ability to invest in customer propositions and open new growth opportunities [8][10]. Group 4: Leadership Commentary - Ageas Group CEO Hans De Cuyper expressed enthusiasm for the acquisition, highlighting its potential to enhance competitive value propositions and market share in the UK [10]. - esure Group CEO David McMillan noted the complementary nature of the two businesses, emphasizing the combined strengths in technology and market position [11].