KBC Groep NV, Belgium’s biggest bank and insurer by market value, reported fourth-quarter profit that beat analyst estimates as lower funding costs halted a slide of its interest margin and sales of fee-generating products rose.
SNS Reaal NV, a Dutch bank and insurer struggling with real estate losses, plans to strengthen capital buffers by selling a stake to private investors and involve bond holders to help limit the burden on taxpayers.
Delta Lloyd NV, the Dutch insurer which sells life insurance in Belgium, the Netherlands and Luxembourg, rose the most in more than a year after Aviva Plc sold its 19.4 percent stake in the company for 433.8 million euros ($568 million).
Dexia SA and KBC Groep NV are the biggest Benelux holders of corporate and government debt of Europe’s so-called peripheral states as a percentage of shareholder equity, ING Groep NV said in an assessment of banks and insurers in Belgium, the Netherlands and Luxembourg.
Ageas SA, the majority owner of Belgium’s biggest life insurer, reported insurance profit that beat analyst estimates and announced a stock buyback as a lockup on 78.9 million shares held by BNP Paribas SA expires.
KBC Groep NV, Belgium’s biggest bank and insurer by market value, reported a smaller-than-estimated drop in profit on capital gains in the Belgian insurance unit and lower loan losses in all regions except Ireland.
KBC Groep NV ’s sale of its private bank to India’s Hinduja Group for 1.35 billion euros ($1.88 billion) failed to get regulatory approval, setting back the firm’s plan to boost capital and repay bailout funds.