Ageas gets approval for reinsurance activities in Belgium
Insurance group Ageas has received the approval of the National Bank of Belgium (NBB) to organise and operate reinsurance activities.
This approval follows the green light given by the shareholders at the general meeting of May 16, 2018, to amend article 4 of the Articles of Association of Ageas to this end.
Ageas said operating reinsurance activities increases the fungibility of capital within the group, giving it higher flexibility and agility to execute its strategy.
As a consequence of the approval, Ageas decided to no longer eliminate the geographical diversification benefits from its Own Funds, which will have a positive effect on both the Group and Insurance Solvency II Ageas ratio of around 5 percent.
Make sure you are GDPR compliant and confirm your email address to keep getting our daily emails
More of today's news
Loss-free Florida property flat at June/July renewals
XL Catlin leads $16.5m funding in maritime risk startup Windward
Flood Re to reduce 2019 premium
DARAG poaches new group CEO from R&Q in expansion move
Neon launches Nordic-focused marine business in Copenhagen
Brit swoops for Navigators to grow US casualty unit
McLarens expands in Asia with new Malaysian operation
Prudential plans $700m Malaysia IPO
Digit Insurance acquires ITI Reinsurance
