BNP Paribas Sells AG Insurance Stake and Increases Share in Ageas to 22.5%
On Tuesday, BNP Paribas finalized the establishment of its long-term partnership with Ageas group, marked by two separate transactions: the sale of its 25% stake in AG Insurance for 1.9 billion euros and an increase in its share in Ageas to 22.5% for 1.1 billion euros.
Stake Sale and Renewal of Bancassurance Partnership
BNP Paribas Fortis has sold its 25% stake in AG Insurance to Ageas for an amount of 1.9 billion euros. This transaction follows the signing of a framework agreement between the two groups on December 7, 2025. Concurrently, BNP Paribas Fortis has renewed its historic bancassurance partnership with AG Insurance in Belgium, covering savings, protection, and property insurance. AG Insurance and BNP Paribas Asset Management have also signed a long-term partnership regarding AG Insurance's investments in certain asset classes.
Capital Increase and Strengthening of Shareholder Role
BNP Paribas Cardif, the insurance subsidiary of the group, has increased its stake from 14.9% to 22.5% in Ageas following an investment of 1.1 billion euros. This increase in stake is part of a capital increase by Ageas conducted on the same day. The two groups have signed a Relationship Agreement to maintain Ageas's autonomy and independence, while BNP Paribas establishes itself as a long-term shareholder of the Belgian group.
Financial Impact and Ratio Effects
These transactions generate a net disposal result of 840 million euros and produce a positive impact of +5 basis points on the CET1 ratio after distribution of the result. The net result attributable to the group is expected to increase by 40 million euros on an annual basis recurrently.
