The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Fantastic results, and it looks as if 2022 will be even better, which is lovely. I'm going to ask on cash. So my understanding, and I may be wrong, is
that the EUR 725 million will go up in 2022, but Asia will go down. And I just wondered if you could give more color on these 2 movements and
where the extra comes from in Europe and how much Asia could go down? I never believe Asia will go down, I'm a big fan, but it's -- who knows?
And then the second on the U.K. So it's a bit like me and my battle to lose weight, it's completely a waste of time. And I'm sorry, I don't mean that
in the case of the U.K., but in the U.K. would have observed over the past, say, 2 or 3 years. So the -- you had the -- I think it was the Tesco joint
venture and then the commercial business.
And you still say, "Yes, we're committed, we're committed," but you're committed to a smaller and smaller piece. And I just wondered what the
ultimate outcome could be? Is it that you say, "We've sold so much, now we want to buy back something?" Or is it you say, "Well, at some stage, it
becomes marginal?" Those would be my 2 questions.
Question: Steven Haywood - HSBC, Research Division - Analyst
: You mentioned about the guidance earlier on net profit (inaudible) can you just give update on that? And also the guidance for 2022 cash upstreams.
Have you got any guidance? Would you be looking for over EUR 700 million again or would this be upgraded?
And secondly from me, I wonder if there's any comments you can make about the Chairman of China Taiping as the (inaudible) that is currently
under for certain potential corruption?
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Two questions. So the first one is on the reinsurance and the change you announced that it's now a separate core entity or something. And I just
wanted to know, you remember, I can't remember when you said you had the ambition of having a fourth core entity, is that it now?
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FEBRUARY 23, 2022 / 8:00AM, AGES.BR - Q4 2021 Ageas SA Earnings Call
Is this -- have you said it is reinsurance and we'll invest more here?
And then the second one is IFRS 17 this comes into full in 2023 and maybe you will be preparing for this. And I just wondered whether you can
give us a feel for what the preparations, the anticipation of IFRS 17 could mean for the profits this year?
Question: Steven Haywood - HSBC, Research Division - Analyst
: You mentioned in the press release about a reserving review into the U.K. Motor Could you give a bit more information on that reserve in review,
what it relates to and the impact in the fourth quarter?
And then I'm not sure I got this earlier, but did you say that it seemed you can move to price increases of around 5% level? Or is that -- the answer
to a different question, if you could give some idea where JS' U.K. Motor prices are moving and potentially the market, that would be helpful?
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FEBRUARY 23, 2022 / 8:00AM, AGES.BR - Q4 2021 Ageas SA Earnings Call
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