BRUSSELS Feb 15 Belgian insurance group Ageas
reported on Wednesday fourth-quarter insurance profit
well below expectations as the group faced restructuring costs
in Britain and lower profits in Belgium and Asia.
The group had already announced one-off losses of in the
final quarter, related to the restructuring of its operations in
Glasgow, its special risks business, anticipated changes to the
British regulatory environment and Asian equity impairments.
The group said on Wednesday it also faced lower capital
gains in Belgium for its life insurance business, although
profits from its non-life business in the country increased.
Overall, net profit from insurance activities fell 87
percent in the fourth quarter to 17.9 million euros ($18.94
million), well below the 43.7 million expected in a Reuters
($1 = 0.9452 euros)
(Reporting by Robert-Jan Bartunek; editing by Philip