Ping An unloads full stake in Belgian insurer Ageas amid government entry

Ping An has sold off its entire stake in Belgian insurer Ageas, Ageas said in a market filing following notification from the Chinese group.

The announcement follows news last week that a Belgian government agency FPIM/SFPI had taken a 6.3%: stake in the insurer.

Belgium's Federal Holding and Investment Company (SFPI-FPIM) centrally manages the government's shareholdings, often as part of coordinated economic policy.

Shares in Ageas are now down 4.1% from a Thursday(Jan 20) peak, having opened with a notable gap Friday on the SFPI-FPIM announcement and lost further ground during a rugged Friday session. Shares went lightly lower Monday morning.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.