2024 Results: Key Figures to Remember  

Ethias closes the year with outstanding results. 

As of 31/12/2024, total premium income reaches EUR 3.54 billion, marking a 5% increase compared to 2023. 

Non-Life premium income amounts to EUR 1.84 billion, reflecting a 10% growth compared to 2023, driven by strong commercial momentum. Life premium income stands at EUR 1.71 billion, reflecting the success of the “Ethias Savings 21” and “Ethias Savings 26” products tailored for individual clients. 

The operating result totals EUR 248 million, supported by strong performance in both Life and Non-Life insurance, the absence of major storms, and controlled overheads. The operating result for Non-Life business reaches EUR 210 million. The operating result for Life business amounts to EUR 78 million.

The net result stands at EUR 212 million, an increase of EUR 12 million (or +6%) compared to 2023, further confirming the company’s solid financial position.

The regulatory Solvency II ratio is 192.3%. 

Subject to approval at the General Assembly in May 2025, a dividend of EUR 113 million will be distributed to the shareholders: the Federal State through SFPIM, the Walloon Region through Wallonie Entreprendre, the Flemish Region and EthiasCo.

In May 2024, Fitch Ratings reaffirmed Ethias' Insurer Financial Strength (IFS) rating at “A” and upgraded its outlook from stable to positive. Beyond its strong and growing financial performance, Fitch also highlighted Ethias’ very strong capitalisation, its excellent regulatory solvency ratio (SII), a stable financial leverage ratio, sound reserving practices, outstanding Non-Life profitability, a Life margin exceeding expectations and low exposure to interest rate risk. 

Ethias 2024 - Key Highlights 

Pillar of responsible investment and Belgian economic development

In 2024, Ethias continued its commitment to a more sustainable and inclusive economy, with an investment portfolio totalling EUR 5.6 billion injected into the Belgian economy. A specific focus was placed on four key areas:

1. Sustainable Mobility: Ethias strengthened its support for projects aimed at reducing the carbon footprint, particularly through investments in clean mobility. Through its subsidiary Ethias Lease and its Ethias Venture fund, the company supports the development of innovative solutions, including start-ups Linkbycar and BattMobility. Linkbycar specialises in artificial intelligence for connected vehicles, while BattMobility focuses on electric car sharing. Additionally, Ethias invested in Sparki, a rapidly growing Belgian start-up deploying a network of ultra-fast charging stations across Wallonia and Flanders.

2. Ecological Transition: through the Belgian Cityforward fund, SFPIM and Ethias will soon transform around twenty buildings in the European Quarter into a mixed-use development comprising 70% sustainable office spaces and 30% retail, public facilities, and housing. This project will ultimately double the number of families living in the heart of the European Quarter.

3. Social Impact Investment: aware of its societal role, Ethias funds projects aimed at improving access to housing, education, and essential infrastructure. The company supports the “Schools of Flanders” programme, which promotes the construction of sustainable schools, and UKot Liège, which facilitates the development of affordable student housing. Ethias also invests in high-impact social initiatives, such as the Schuttershof project, which fights inequality by ensuring access to energy-efficient and affordable housing. Additionally, the financing of Crédal, a key player in solidarity-based financing in Belgium, reflects Ethias’ strong commitment to social impact investment.

4. A Major Reinvestment in Favour of the Environment: following the issuance of its Green Bond in 2023, Ethias completed the reinvestment of EUR 250 million in 2024 into projects with a positive environmental impact. These funds have helped accelerate innovative initiatives in renewable energy, green mobility, and sustainable real estate, reinforcing our commitment to being a driving force for ecological change in Belgium.

Through these commitments, Ethias reaffirms its role as a responsible investor and its ambition to build a more sustainable future - for both its policyholders and Belgian society as a whole.

Collective Intelligence at the Heart of Ethias' Innovative Ecosystems

Ethias leverages the power of its ecosystems and co-creation to design innovative and sustainable solutions that address today’s and tomorrow’s most pressing challenges. By engaging a dynamic network of partners - including major corporations, start-ups, and clients - Ethias strengthens its role alongside its policyholders, simplifying their daily lives with unique solutions while protecting them against an ever-growing and evolving range of risks.

• Mobility Ecosystem

• Health Ecosystem

• Housing Ecosystem

• Cybersecurity Ecosystem

By integrating these ecosystems, Ethias turns societal and environmental challenges into drivers of progress, benefiting both its clients and the wider community.

Ethias Savings 21 & Ethias Savings 26 – A New Generation of Savings Insurance Products

2024 marked the launch of two new, highly attractive savings insurance products in Branch 21 and Branch 26: Ethias Savings 21 and Ethias Savings 26.

Full press release as well as quote of Philippe Lallemand, CEO of Ethias, in attach.