Ageas is a Belgian multinational

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

company co-headquartered in

Brussels Brussels, officially the Brussels-Capital Region, (All text and all but one graphic show the English name as Brussels-Capital Region.) is a Communities, regions and language areas of Belgium#Regions, region of Belgium comprising #Municipalit ...

. Ageas is Belgium's largest insurer and operates in 13 countries worldwide. The company was renamed from Fortis Holding in April 2010 and consists of those insurance activities remaining after the breakup and sale of the

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

group

Fortis Fortis may refer to: Business * Fortis (Swiss watchmaker), a Swiss watch company * Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock * Fortis Healthcare, a chain of hospitals in ...

during the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. In 2023, the company had 50,000 employees.main page
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History

The company's roots are in the 1824 foundation of the Belgian life insurer Assurances Générales (now AG Insurance). In 1990 AG took over the

Netherlands , Terminology of the Low Countries, informally Holland, is a country in Northwestern Europe, with Caribbean Netherlands, overseas territories in the Caribbean. It is the largest of the four constituent countries of the Kingdom of the Nether ...

-based

firm A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members ...

AMEV/VSB to form Fortis. AMEV/VSB had itself been formed earlier that year by the combination of a

savings bank A savings bank is a financial institution that is not run on a profit-maximizing basis, and whose original or primary purpose is collecting deposits on savings accounts that are invested on a low-risk basis and receive interest. Savings banks ha ...

, VSB (Verenigde Spaarbank), and an insurer, AMEV, which followed the end of legislation preventing mergers between banks and insurers. AMEV had originally been founded in

Utrecht Utrecht ( ; ; ) is the List of cities in the Netherlands by province, fourth-largest city of the Netherlands, as well as the capital and the most populous city of the Provinces of the Netherlands, province of Utrecht (province), Utrecht. The ...

in 1920 as Algemeene Maatschappij tot Exploitatie van Verzekeringsmaatschappijen (). After its creation, Fortis extended its activities to private and

investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

and to

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

, establishing subsidiaries internationally, and by 2007 it had become the 20th largest business in the world by revenue. That year Fortis agreed to purchase ABN AMRO jointly with Banco Santander and Royal Bank of Scotland Group, but the

exacerbated problems with financing its part of the acquisition and prompted fears of

insolvency In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet i ...

. Considered "

too big to fail "Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected with an economy that their failure would be disastrous to the greater e ...

", Fortis received an €11.2 billion

bailout A bailout is the provision of financial help to a corporation or country which otherwise would be on the brink of bankruptcy. A bailout differs from the term ''bail-in'' (coined in 2010) under which the bondholders or depositors of global syst ...

from the

Benelux The Benelux Union (; ; ; ) or Benelux is a politico-economic union, alliance and formal international intergovernmental cooperation of three neighbouring states in Western Europe: Belgium, the Netherlands, and Luxembourg. The name is a portma ...

governments and saw its

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

operations in Belgium sold to BNP Paribas, and its insurance and banking subsidiaries in the Netherlands nationalised. The remaining assets of the company, consisting principally of insurance operations but also including some distressed assets, were rebranded Fortis Holding. In April 2010 its shareholders agreed a formal change of name to Ageas SA/NV, with ownership of the Fortis brand passing to BNP Paribas. On July 13, 2018, the Amsterdam Court of Appeal (Gerechtshof Amsterdam) approved a €1.3 billion

collective settlement An intentional community is a voluntary residential community designed to foster a high degree of social cohesion and teamwork. Such communities typically promote shared values or beliefs, or pursue a common vision, which may be politica ...

of claims asserted on behalf of shareholders of the former

(now Ageas), under the authority of the Dutch Act on Collective Settlement of Mass Claims (Wet Collectieve Afwikkeling van Massaschade) or WCAM. In April 2024, it was revealed that BNP Paribas had acquired Fosun International's entire 9% stake in Ageas, worth €730 million. In February 2025, BNP Paribas increased its stake in Ageas up to 15,07%. In April 2025, Ageas announced that it has reached a deal with

Bain Capital Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...

to purchase British insurer esure for 1.3 billion pounds.

Operations

The company is the largest provider of insurance in

Belgium Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. Situated in a coastal lowland region known as the Low Countries, it is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeas ...

, owning 75% of AG Insurance (the remainder is held by Fortis Bank N.V./S.A., which was sold to BNP Paribas in 2009). Products are sold through independent agents, brokers and financial planners, and through branches of BNP Paribas Fortis and its subsidiary Banque de La Poste/Bank van De Post. Ageas also wholly owns the

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

Ageas Insurance International (formerly Fortis Insurance International), through which it is the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

's third-largest provider of private vehicle cover and fourth-largest provider of travel insurance through subsidiaries such as Kwik Fit Insurance. Ageas Insurance International also operates in France and Hong Kong and holds partnerships or

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

s in Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand. In addition, Ageas holds 45% of Royal Park Investments, a

special purpose vehicle A special-purpose entity (SPE), also called a special-purpose vehicle (SPV) or a financial vehicle corporation (FVC), is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, speci ...

which manages a portfolio of "

toxic Toxicity is the degree to which a chemical substance or a particular mixture of substances can damage an organism. Toxicity can refer to the effect on a whole organism, such as an animal, bacterium, or plant, as well as the effect on a subst ...

" structured credit assets previously held by Fortis Bank. RIAS is a

general insurance General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

company that provides car, home, travel and caravan insurance. is a trading name of Ageas Retail Limited, who are authorised and regulated by the

Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financi ...

. It was established in 1992 by David Holden as the Retirement Insurance Advisory Service, originally offering insurance products from a panel of insurers. RIAS was part of

Group, until Fortis adopted an Ageas UK name, reflecting the company's status as a standalone global insurance group. In September 2012, Ageas acquired Groupama's UK insurance operations, boosting its presence in the automobile and home sectors. The deal will see Ageas add another million policyholders in the UK. In 2016, Ageas acquired

AXA Axa S.A. is a French multinational insurance corporation headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services via its subsidiaries. As of 2024, it is the fourth largest financi ...

insurance operations in

Portugal Portugal, officially the Portuguese Republic, is a country on the Iberian Peninsula in Southwestern Europe. Featuring Cabo da Roca, the westernmost point in continental Europe, Portugal borders Spain to its north and east, with which it share ...

, becoming the second largest insurer by premiums, the third Non-Life insurer (with a 14% market share) and the third largest Life insurer (with a 19% market share). In December 2024, it was announced that Ageas had agreed a 20 year partnership with Saga to distribute personal motor and household products to Saga's customers. As part of the deal, Ageas will acquire Acromas Insurance Company which is Saga's insurance underwriting business. In April 2025, Ageas announced the acquisition of Esure from

for €1.510bn. The Ageas UK head office is in Eastleigh, with branches in

Bournemouth Bournemouth ( ) is a coastal resort town in the Bournemouth, Christchurch and Poole unitary authority area, in the ceremonial county of Dorset, England. At the 2021 census, the built-up area had a population of 196,455, making it the largest ...

Gloucester Gloucester ( ) is a cathedral city, non-metropolitan district and the county town of Gloucestershire in the South West England, South West of England. Gloucester lies on the River Severn, between the Cotswolds to the east and the Forest of Dean ...

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

and

Manchester Manchester () is a city and the metropolitan borough of Greater Manchester, England. It had an estimated population of in . Greater Manchester is the third-most populous metropolitan area in the United Kingdom, with a population of 2.92&nbs ...

Subsidiaries worldwide

* : AG Insurance (75% + 1 share), AG (subsidiary of AG Insurance at 100%), (50,67 %) * : Ageas UK Ltd (100%) * : Ageas Portugal Holdings SGPS (100%) * : AgeSA SA (40%) * : Aksigorta (36%) * : Ageas Asia Services Ltd (100%) * : WeTherapy Ltd (20%) * and : Maybank Ageas Holdings Berhad (31%) * : East West Ageas Life Insurance Corp (50% + 1 share) * : MB Ageas Life Insurance Co Ltd (32%) * : Muang Thaï Group Holding Co Ltd (8%) * : Muang Thaï Holding Co Ltd (21%) * : Muang Thaï Insurance Public Co Ltd (15%) * : Muang Thaï Life Assurance Public Co Ltd (31%) * : Fuchsia Venture Capital Co Ltd (31%) * : Taiping Asset Management Co Ltd (20%) * : Taiping Life Insurance Co Ltd (25%) * : Taiping Financial Services Co Ltd (12%) * : Taiping Reinsurance Co Ltd (HK) (25%) * : Ageas Federal Life Insurance Co Ltd (74%) * : Royal Sundaram General Insurance (40%)

References

External links

* {{DEFAULTSORT:Ageas Companies based in Brussels Companies listed on Euronext Brussels Insurance companies of Belgium Belgian brands