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FORTIS: Fortis reports total gross inflow of EUR 4.2 billion for the first quarter 2009, significantly up quarter on quarter

^{Published on 2009-05-13 23:02:59, Last Modified on 2009-05-13 23:03:35 - Market Wire}
 

BRUSSELS, BELGIUM--(Marketwire - May 14, 2009) -

Net result of EUR 44 million despite a negative impact on investment portfolio of EUR 96 million Highlights

 * Fortis Insurance Belgium - Total gross inflow EUR 1.9 billion, up 37% quarter on quarter - Net result of EUR 5 million, including EUR 86 million negative net-of-tax impact on investment portfolio * Fortis Insurance International - Total gross inflow EUR 2.3 billion (including EUR 1.1 billion inflow from non-consolidated joint ventures on a 100% basis), up 22% quarter on quarter - Net result of EUR 8 million, including EUR 10 million negative net-of-tax impact on investment portfolio * General - Positive contribution of net interest income - Total general expenses substantially reduced - Net result of EUR 31 million, including EUR 30 million positive impact of the CASHES-linked relative performance note * Capital position - Overall solvency remains strong, in line with levels of end 2008 * Transactions with BNP Paribas, the Belgian State, and Fortis Bank closed on 12 May 2009 - Pro forma net cash of General EUR 3.2 billion (based on 31 March 2009 figures) - Pro forma shareholders' equity EUR 7.4 billion (based on 31 March 2009 figures) 

Outlook second quarter 2009

The inflow in April and the first half of May continued at levels in line with the first quarter of 2009, confirming the positive commercial signs seen in the first quarter. The net result of the second quarter will include amongst others the impact of the closing of the transactions with BNP Paribas, the Belgian State and Fortis Bank.

PDF version FULL press release: [ http://hugin.info/134212/R/1314865/305799.pdf ]

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