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.

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