As a binational, integrated financial services provider, Ageas is subject to different forms of external supervision. The Dutch central bank (DNB) and the Belgian Banking, Finance and Insurance Commission (BFIC) share the view that, based on European and national regulations, supplementary cross-border supervision – in addition to specific national supervision of the different sectors – needs to be conducted on a Ageas-wide basis. The supervisory bodies laid down the coordination of their respective regulatory scope in an agreement in 1996, which was renewed on 28 February 2002.
The new agreement between the regulators stipulates that each will continue to perform sector supervision of the relevant activities of Ageas entities in their jurisdiction. Supplementary supervision is exercised jointly by the bodies. The CBFA has been designated as coordinator, as it supervises the largest part of Ageas’s operations, measured by total assets and solvency requirements.
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