Home » Business » Federal government takes over 6 percent of Ageas shares in insurance company

Federal government takes over 6 percent of Ageas shares in insurance company

The federal government acquires the stake in Ageas through the Federal Participation and Investment Company. According to the current stock market value, that is worth around six hundred million euros.

Why is the federal government making such a significant investment? Because Ageas is an important company, said Minister of Finance Vincent Van Peteghem (CD&V) in De Morgen. “And there was foreign interest, so we chose to anchor that company.”

Ageas is the largest insurance company in the country and employs some 13,000 people in 12 different countries. It originated on the axis of the former Fortisbank.

“Ageas is the country’s largest insurer and plays a crucial role in the economic fabric of Belgium, through the coverage of risks for natural and legal persons, but also in the financing of pensions and strategic infrastructure for the country,” said CEO of the SFPI Koen Van Loo.

Whether it remains at that participation of more than 6 percent is a decision that the board of directors of FPIM must take, according to Minister Van Peteghem.

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