Ageas Holding

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Ageas SA / NV
legal form Corporation
ISIN BE0974264930
founding 1990/2008
Seat Brussels , Belgium
management Jozef De Mey (Chairman)
Bart De Smet (CEO)
Number of employees 12,557 (2011)
sales EUR 12 billion (2011)
Branch Financial services
Website www.ageas.com

The Ageas is after the financial crisis in 2008 from the former Belgian - Dutch financial group of the Fortis group emerged. The renaming from Fortis to Ageas took place on April 30, 2010.

After the restructuring of the former Fortis Holding in October 2008, the new Ageas Holding consists of the following areas:

Financial assets and liabilities related to various financial instruments

Ageas Holding no longer carries out banking transactions. At the end of 2008 it had issued fixed-income securities worth 43.6 billion euros .

The shares of the new Ageas Holding are traded on the Brussels Stock Exchange. The new Ageas Holding has the following main shareholders (November 2012):

Split of the former Fortis Holding

On September 28, 2008 it was announced that the governments of Belgium, Luxembourg and the Netherlands would take over large parts of the group for 11 billion euros as a result of the financial crisis from 2007 onwards .

The remaining operating shares of the former Fortis Holding (Fortis Bank, Fortis Investments and Von Essen Bank) were temporarily taken over by the Belgian state and continued to operate for the time being.

On October 4, 2008, the Dutch part of the Fortis Group (ABN AMRO, Fortis Bank Nederland Holding NV , ASR Nederland ) was taken over 100 percent by the Netherlands for 16.8 billion euros. The insurance company now operates as ASR Nederland and the banking division belongs to the newly formed ABN AMRO Bank NV .

In fact, the Fortis Group was split geographically into two companies along the Belgian-Dutch border . This was necessary because the Dutch part of the bank, in contrast to the Belgian part, was heavily affected by outflows.

After the Luxembourg state took over a 49.9 percent stake in Fortis Banque Luxembourg , the banking division will operate under the name of BGL Société Anonyme from December 22, 2008 . The insurance division operates as Fortis Assurance Luxembourg , which is part of Fortis Holding's Ageas Insurance International.

After Belgium and BNP Paribas agreed on a new plan to break up the Fortis Holding on the night of March 6, 2009, Luxembourg and BNP Paribas also agreed to join BGL SA . The Luxembourg state intends to keep 34% of the capital for the time being. After the conclusion of various transactions in France, Belgium and Luxembourg, following resolutions at the Board of Directors meeting on May 13, 2009, the BNP Paribas Group has become the majority shareholder of BGL. It now controls - directly and indirectly through Fortis Bank - 65.96% of the bank's capital. The Luxembourg state still has a 34% stake.

After the general meeting of Fortis Holding on April 28th and 29th, 2009, a new board of directors was also elected. Bart De Smet (51) succeeded Karel De Boeck as CEO on July 1, 2009. Jozef de Mey remained chairman .

Processing of Fortis financial products

After the Fortis divisions were split up in autumn 2008, the future of Fortis financial products was open. Fortis Bank Belgium, BNP Paribas , Fortis Holding and the Belgian state (state holding SFPI / FPIM) therefore found a solution on March 12, 2009. Thereafter, Royal Park Investments (RPI) SA / NV is to take over the structured loan portfolios of Fortis Bank as a special purpose vehicle.

Financial products with a nominal value of 19.3 billion euros are to be taken over at an estimated cost of 11.4 billion euros. These 11.4 billion euros are to be financed by 1.7 billion euros in equity and 9.7 billion euros in bonds.

The shareholders of Royal Park Investments (RPI) SA / NV are:

  • 44.70% Ageas Holding
  • 43.53% Belgian state holding SFPI / FPIM
  • 11.77% BNP Paribas

See also

Individual evidence

  1. ↑ http://www.ageas.com/Documents/FR_ageas_29042010_015 (link not available)
  2. ↑ Archive link ( Memento from May 24, 2010 in the Internet Archive )
  3. ↑ Archive link ( Memento from March 29, 2009 in the Internet Archive )
  4. ↑ Annual Report 2008 ( Memento of March 31, 2009 in the Internet Archive ) - page 22
  5. ↑ Archive link ( Memento from June 28, 2010 in the Internet Archive )
  6. ↑ The Benelux countries save Fortis financial giants with a billion-dollar injection. , in: Spiegel online , September 28, 2008
  7. ↑ http://www.ftd.de/unternehmen/finanzdienstleister/:Kapitalmangel-Fortis-schlie%DFt-Deutschland-T Nahrungsmittel/ 460857.html ( Memento from August 4, 2012 in the web archive archive.today )
  8. ↑ http://www.minfin.nl/english/News/Newsreleases/2008/11/Two_strong_insurance_companies_and_one_strong_bank
  9. ↑ http://www.fortis.com/press/info/UK_PR_Fortis_03102008.pdf
  10. ↑ A l'issue d'une année 2008 très turbulente, BGL annonce un résultat positif de l'ordre d'EUR 30 millions ( Memento of March 19, 2009 in the Internet Archive ) Press release January 22, 2009
  11. ↑ http://www.fortis.lu/de/index.html Genealogie {Dead Link | url = http: //www.fortis.lu/de/index.html | date = 2018-08 | archivebot = 2018-08 -22 10:08:38 InternetArchiveBot}} (link not available)
  12. ↑ Fortis Luxembourg is mentioned on the homepage ( Memento of March 18, 2009 in the Internet Archive ) of Fortis Insurance International.
  13. ↑ Agreement to break up Fortis Holding ( Memento of March 10, 2009 in the Internet Archive )
  14. ↑ UPDATE 1-Fortis asset sale to BNP cleared with Dutch OK Bloomberg April 29, 2009
  15. ↑ The story
  16. ↑ http://www.fortis.com/press/info/EN_Board_Committees_080509.pdf
  17. ↑ http://www.ftd.de/koepfe/:Neuer-Vorstandsvorsitzender-Fortis-macht-Versicherungsprofi-zum-Chef/527386.html ( Memento from June 16, 2009 in the Internet Archive )
  18. ↑ http://www.fortis.com/press/info/EN_SPV_agreement_26042009.pdf
  19. ↑ http://www.royalparkinvestments.com/index.cfm?page=company/organization Genealogie {Dead Link | url = http: //www.royalparkinvestments.com/index.cfm? Page = company% 2Forganization | date = 2018 -08 | archivebot = 2018-08-22 10:08:38 InternetArchiveBot}} (link not available)

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