Fortis Insurance Asia
Ageas Insurance International NV is a Dutch insurance group from Utrecht / Netherlands. It belongs to the holding company Ageas (formerly Fortis Holding).
CEO is from December 1, 2007 Steven Braekveldt who has come from ING Groep.
In fiscal year 2008, premium income of 4,102 million euro of life and of 1,228 million euros of insurance arise. The former Fortis Insurance International had end 2008 4.718 employees. Are particularly high premium income in Portugal ( 2,238 million euros ), China ( 1,850 million euros ), Luxembourg ( 1,033 million euros ), Malaysia (435 million euros ), Thailand ( 358 million euros ) and Hong Kong ( 282 million. euros ).
Ageas Insurance International is active in Belgium, France, Germany, Hong Kong, Luxembourg, Russia (since June 2006), Turkey and the United Kingdom. She has a joint venture insurance company in China, India, Malaysia, Portugal, Thailand and Italy.
International Subsidiaries
The Ageas Germany Life AG in Göttingen ( Göttingen from the group) was also part of Ageas Insurance International. In October 2011, the sale of the subsidiary to the private equity fund Augur Capital was announced. After the separation of these now Ageas operates under myLife life insurance AG.
Ageas France is active in France. The more than 200,000 customers are served more than 200 consultants in 30 offices. The sum insured is more than 3,400 million euros and the contributions over EUR 335 million (as at 31 December 2009).
The Ageas (UK) Ltd.. (formerly Fortis UK Ltd. ) in the UK has over 7.6 million customers and more than 4,000 employees. The former Fortis UK announced on 25 June 2009 a partnership with Tesco Personal Finance, a subsidiary of the supermarket chain Tesco, known. Through the cooperation contributions of approximately £ 500 million, or approximately 584 million euros are to taken annually and about 1,500 new jobs will be created.
Ageas Insurance International holds a stake of just one-third of Cardif Lux Vie, a life insurance company in Luxembourg. The company was formed in early 2012 from the merger of Fortis Luxembourg -VIE SA, the life insurance arm of Ageas and BGL BNP Paribas in Luxembourg, with the Cardif Lux International, the life insurance company of BNP Paribas in Luxembourg.
The insurance arm Fortis Luxembourg- IARD SA had already been sold on 6 October 2009 for 23 million euros at La Bāloise.
In early 2005 a joint venture with Millennium BCP Banco Comercial Português ( BCP) in Portugal, the former Fortis Insurance International founded under the name Millenniumbcp Fortis Grupo Segurador. This was changed in the course of the renaming of the insurance activities of Fortis Holding in Ageas Ageas Grupo Segurador in Millenniumbcp. This has the following Insurance brands:
- Ocidental vida - life insurance
- Ocidental seguros - insurance
- Pensões Gere - Retirement and annuity
- Médis Saúde - health insurance (since 1996)
According to the annual report 2008, the former Fortis Insurance International in Portugal, premium income of 2,238 million euros.
Ageas Insurance Company ( Asia) Limited in Hong Kong in mid- 2007 for 3.5 billion HKD of the Pacific Century Insurance Holdings Limited ( PCI) of Pacific Century Regional Developments Limited ( PCRD ) taken.
In China there is a joint venture with the Taiping Life Insurance Co. Ltd..
In India there is a joint venture of ( Industrial Development Bank of India Limited) (48 percent), the Indian Federal Bank (26 per cent) and Ageas (26 percent). The IDBI Federal Life Insurance Co Ltd has offered first insurance products as of March 2008. End of March 2009, there are 31 branches. In addition to the traditional life insurance, especially micro-insurance ( microsurance ) are offered.
Ageas Insurance International ( 50 % 1 share) and BNP Paribas Assurance (50 % - 1 share) founded the F & B Insurance Holdings, in turn, a portion ( 50 % 1 share) in UBI Assicurazioni next to the UBI Banca ( 50 % - 1 share) holds.
The Fortis Life Insurance Ukraine was sold to the investment company Horizon Capital in September 2010.