Operations
The company is the largest provider of insurance in Belgium,[7] owning 100% of AG Insurance[13]. Products are sold through independent agents, brokers and financial planners, and through branches of BNP Paribas Fortis and its subsidiary Banque de La Poste/Bank van De Post.[14]
Ageas also wholly owns the subsidiary Ageas Insurance International (formerly Fortis Insurance International), through which it is the United Kingdom's third-largest provider of private vehicle cover and fourth-largest provider of travel insurance through subsidiaries such as Kwik Fit Insurance.[15] Ageas Insurance International also operates in France and Hong Kong and holds partnerships or joint ventures in Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand. In addition, Ageas holds 45% of Royal Park Investments,[13] a special purpose vehicle[16] which manages a portfolio of "toxic" structured credit assets[17] previously held by Fortis Bank.
RIAS is a general insurance company that provides car, home, travel and caravan insurance. is a trading name of Ageas Retail Limited, who are authorised and regulated by the Financial Conduct Authority.[18][19] It was established in 1992 by David Holden[20] as the Retirement Insurance Advisory Service, originally offering insurance products from a panel of insurers. RIAS was part of Fortis Group, until Fortis adopted an Ageas UK name, reflecting the company's status as a standalone global insurance group.[21]
In September 2012, Ageas acquired Groupama's UK insurance operations, boosting its presence in the automobile and home sectors. The deal will see Ageas add another million policyholders in the UK.[22] In 2016, Ageas acquired AXA insurance operations in Portugal, becoming the second largest insurer by premiums, the third Non-Life insurer (with a 14% market share) and the third largest Life insurer (with a 19% market share).[23]
In December 2024, it was announced that Ageas had agreed to a 20-year partnership with Saga to distribute personal motor and household products to Saga's customers. As part of the deal, Ageas will acquire Acromas Insurance Company which is Saga's insurance underwriting business.[24]
In April 2025, Ageas announced the acquisition of Esure from Bain Capital for €1.510bn.[25]
The Ageas UK head office is in Eastleigh, with branches in Bournemouth, Gloucester, London and Manchester.[26]
Subsidiaries worldwide
- 🇧🇪 Belgium: AG Insurance (100%), AG Real Estate (subsidiary of AG Insurance at 100%), Royal Park Investments (50,67 %)
- UK: Ageas UK Ltd (100%)
- 🇵🇹 Portugal: Ageas Portugal Holdings SGPS (100%)
- 🇹🇷 Turkey: AgeSA SA (40%)
- 🇹🇷 Turkey: Aksigorta (36%)
- 🇭🇰 Hong Kong: Ageas Asia Services Ltd (100%)
- 🇭🇰 Hong Kong: WeTherapy Ltd (20%)
- 🇲🇾 Malaysia and 🇸🇬 Singapore: Maybank Ageas Holdings Berhad (31%)
- 🇵🇭 Philippines: East West Ageas Life Insurance Corp (50% + 1 share)
- Vietnam: MB Ageas Life Insurance Co Ltd (32%)
- 🇹🇭
