Moody's Keeps Ageas' Ratings on Strong Business Profile, Geographic Diversification

11:55 PM EDT, 10/19/2026 (MT Newswires) -- Moody's Ratings affirmed the A1 insurance financial strength rating of Ageas (AGS.BR), along with its A1 long-term issuer and senior unsecured notes ratings, and kept the outlook stable, it said on Monday. The affirmation is backed by the Belgian insurer's leading market positions in Belgium and Portugal, its enlarged UK franchise following the acquisitions of esure and Acromas Insurance Company Limited, and earnings spread across life, non-life and reinsurance. Moody's also highlighted the group's significant geographic diversification, with continued "meaningful" positions in China, Thailand and India. The rating agency said Ageas' disposal of its Malaysian venture, completed in September, brought in about 1.1 billion euros in cash and helped the group's financial flexibility and capital position. The deal is expected to lift the Pillar 2 Solvency II ratio by 23 percentage points.