Ageas SA/ NV

Company Profile

• Business description

  Ageas was spun out of Fortis during the financial crisis after a consortium including Banco Santander and Royal Bank of Scotland launched a failed bid for ABN Amro. The takeover was badly timed and overly ambitious, and to fund it Fortis started selling noncore divisions while writing down collateralized debt. As Fortis’ capital began to decline, the company initiated a rights issue, and suspended the dividend. As Fortis’ share price began to decline and financial market conditions continued to deteriorate, with a series of leadership changes, customers began to withdraw deposits. Fortis was approached by the government and sold its domestic banking operations to the Belgian government. It also spun off its asset management and insurance units which later became Ageas.

• Contact

  Avenue Du Boulevard 21
  Manhattan Center
  Saint-Josse-ten-Noode
  Brussels1210
  BEL

  T: +32 25575711

  https://www.ageas.com

• Sector

  Financial Services

  Stock type

  Cyclical

• Industry

  Insurance - Diversified

  Fiscal Year End

  31 December 2026

  Employees

  54,623