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International

Ageas affected due to inflation and financial market instability

November 01, 2022 Reprints

Belgian insurer Ageas SA/NV said that its third quarter net results would take a €175 million ($174 million) hit from adverse financial markets in China as well as the strong impact of inflation in Turkey and the U.K., Reinsurance News reported. Ageas had earlier said that the solid underlying performance would not be able to compensate for the impact of these developments.

1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Chinese cargo owners face losses after bridge collapse
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms

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Ageas affected due to inflation and financial market instability

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