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Ageas is Belgium's largest insurer and operates in 14 countries worldwide.

"N.V. AMEV, a large Dutch insurer, and VSB Groep, part of which is a Dutch bank, merged their operations in 1990. They were joined later that same year by AG Group – a large Belgian insurer – to complete the first cross-border financial merger. AG Group boasted a strong position in the Belgian insurance market at the time and was market leader in a variety of sectors. However, the international spread of its Operations was fairly limited and its banking interests were minimal, whereas N.V. AMEV was able to contribute a pretty strong position in the Dutch and the international insurance markets.

"Fortis has grown substantially since its inception, thanks to both organic growth and acquisitions. Banking operations were strengthened by a series of takeovers. The group has also disposed of several businesses in keeping with its international strategy.

"But in 2008, following the subprime crisis, the activities were divided. The Dutch banking and insurance activities were acquired by the Dutch State, and the Belgian banking activities by the Belgian State that subsequently ceded 75% to BNP Paribas. The latter also acquired a 25% stake in the capital of the Belgian insurance company (subsequently becoming AG Insurance). At this point Fortis still owned 75% of AG Insurance and of the international insurance. A few months later, on 30 April 2010, Fortis became Ageas."[1]  


Accessed May 2013:[2]




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  1. Ageas History, organizational web page, accessed May 18, 2013.
  2. Ageas Board, organizational web page, accessed May 18, 2013.