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.

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