Ageas Acquires 100% of AG Insurance and Raises Financial Targets
Ageas has completed the acquisition of the remaining 25% stake in AG Insurance held by BNP Paribas Fortis, becoming the sole owner of its leading Belgian subsidiary. The group has also raised its medium-term financial targets following this transaction.
Complete Acquisition of AG Insurance and Upward Revision of Financial Goals
Ageas announced the completion of the acquisition of the 25% minority stake in AG Insurance SA/NV previously held by BNP Paribas Fortis SA/NV. The group now fully owns its leading Belgian insurance subsidiary. This transaction has led to an upward revision of the financial goals outlined in the Elevate27 plan. The Holding Free Cash-Flow target has increased from 2.3 to 2.6 billion euros, while the shareholder remuneration target has risen from 2 to 2.2 billion euros.
Governance Agreement with BNP Paribas and Renewal of Bancassurance Partnership
Following the completion of the transaction, Ageas and BNP Paribas have entered into a governance agreement outlining the framework of their partnership for an initial period of five years, with automatic renewal. BNP Paribas has proposed the nomination of Renaud Dumora as a non-executive member of the Board of Directors of Ageas SA/NV at the General Shareholders Meeting scheduled for May 20, 2026, for a four-year term until 2030. Concurrently, the bancassurance partnership between AG and BNP Paribas Fortis has been renewed for an additional 15 years.
