Group Confirms Full-Year Outlook
(BUSINESS WIRE)--EARNINGS RELEASE: 1Q 2023
1Q 2023:
Total business volume rises 3.9 percent to 46.0 billion euros
Operating profit increases 24.2 percent to 3.7 billion euros; strong performance particularly in Life/Health and Property-Casualty business segments
Shareholders’ core net income strong at 2.2 billion euros
Strong Solvency II capitalization ratio of 206 percent, compared with 201 percent at the end of 4Q 20221
Outlook:
2023 operating profit target confirmed at 14.2 billion euros, plus or minus 1 billion euros2
Other:
New share buy-back program of up to 1.5 billion euros announced
Note: The financial results are based on the new IFRS 9 (Financial Instruments) and IFRS 17 (Insurance Contracts) accounting standards, which have been adopted as of 1 January 2023. Comparative periods have been adjusted to reflect the application of these new account
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