BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Ageas SA/NV (AGESY.PK, AGS.BR), a Belgian insurance company, Monday said that it now expects fiscal 2025 Net Operating Result to be in the 1.6 billion euros to 1.65 billion euros range, higher than the earlier outlook of 1.3 billion euros to 1.35 billion euros.
The company said that the annual results benefitted from positive one-off impacts on the deferred taxes updates included in the full year 2025 results of its Chinese joint venture China Taiping Insurance Holding or CTIH.
According to Ageas, CTIH had issued a pre-announcement of its 2025 results following a directive from the Chinese Ministry of Finance and the State Administration of Taxation on corporate income tax treatment regarding the transition to IFRS 17 and IFRS 9, which needed updates to deferred tax balances for 2023 and 2024.
On the OTC Markets, AGESY.PK ended Friday's trading at $69.52, up $0.39 or 0.56 percent.
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