Ageas seals full ownership of AG Insurance and bancassurance partnership between AG and BNP Paribas Fortis renewed
Ageas announced today the completion of the acquisition of the 25% shareholding in AG Insurance SA/NV previously held by BNP Paribas Fortis SA/NV. With this transaction, Ageas now holds full ownership of its Belgian, market-leading insurance subsidiary (see press release dated 8 December 2025).
The transaction is anticipated to accelerate and raise Ageas's Elevate27 financial targets, with an immediate uplift in the holding free cash flow target from EUR 2.3 to 2.6 billion and the shareholder renumeration from EUR 2 to 2.2 billion.
Following the completion of the transaction, Ageas and BNP Paribas S.A. (BNP Paribas) enter into a relationship agreement that defines the governance framework of their partnership. The agreement has a five-year duration and automatic renewal. Pursuant the agreement, BNP Paribas nominated Mr Renaud Dumora for appointment as a non-executive member of the Board of Directors of ageas SA/NV at the upcoming General Shareholders Meeting of 20 May 2026. His tenure is proposed for a four-year term, concluding at the close of the Ordinary General Meeting of Shareholders in 2030. The agreement is accessible on the Ageas website
Next to the completion of the acquisition, the bancassurance partnership between AG and BNP Paribas Fortis has been renewed for an additional 15 years.
Ageas is a Belgian rooted listed international insurance Group with a heritage spanning of 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 55,000 people and reported annual inflows of EUR 19.6 billion in 2025.
Attachment
- Pdf version of the press release
