Ageas unveils three-year strategic plan for growth

International insurance group Ageas has unveiled Elevate27, a new strategic plan for 2025-2027 aimed at enhancing the company’s performance by focusing on profitable growth, technical insurance leadership, operational excellence, and improving customer experience.

The company also noted that it aims to grow its earnings per share by 6% to 8% on average annually under Elevate27.

In fact, the Belgium-based company aims to reach a holding free cash flow of more than EUR 2.2 billion by 2027 and expects its shareholder remunerations to be more than EUR 1.9 billion over the next three years.

Moreover, the company is set to capitalize on growing demand in the pension and savings segment as populations in Europe and Asia age faster.

Ageas also highlighted its reinsurance arm – Ageas Re, which provides the firm with a solid cash and diversification engine.

If you recall, Ageas unveiled its reinsurance arm in September 2022, when the company revealed plans to open its reinsurance activity to third parties, outside its group perimeter.

In addition, Ageas also seeks to extend its offering in the SME market, by outperforming the rest of the non-life market in the coming years.

The company also highlighted its expertise within Data & AI.

“We want to put these technologies to work for us – adding value but in a disciplined and controlled way, allowing us to better serve our customers, and making insurance more accessible and inclusive,” Ageas said.

Adding: “By leveraging on our strong partnership model and new possibilities offered by AI, we want to develop innovative propositions and services for customers by combining the data insights and expertise of Ageas and our partners.”

Hans De Cuyper, CEO Ageas, commented: ”As the world continues to change at speed, we will need to stay agile and alert. This is why our focus is on what comes next. That means always asking ourselves – can we do better? Or can we do more? That’s what excites us about Elevate27. It is about further elevating our performance as a Group, building on our strengths, embracing technological advancements where they add value, to deliver on evolving expectations of our stakeholders and on their hopes and dreams for the future. We’ve successfully delivered and outperformed in the past and we’re ready to do so again.”

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