Net insurance profit rose 23 percent in the third quarter to 241 million euros (212.25 million pounds), well above the 193 million expected in a Reuters poll of five analysts.

Results in Belgium were far better than expected, largely due to a solid performance in motor and household insurance.

In its Continental Europe unit, Ageas benefited from strong growth in non-life insurance in Portugal, with increased sales on healthcare, motor and household policies.

The only profit decline in the third quarter came from its British business, where a change to the way compensation payments are calculated in personal injury claims again weighed on profits.

(Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)