AG enters Dutch Market for first time marking an important milestone

Only a few months later, a first agreement with a Managing General Agent (MGA) was signed, and in just 6 months, AG has already signed a further seven contracts, allowing it to make early progress in the fast-growing distribution market. The combination of AG’s 200-year history alongside the support and access provided through MGAs - professional financial service providers acting on our behalf - has ensured a strong start.

This move also reflects the Group’s Elevate27 ambitions to drive profitable expansion in the SME segment, whilst further strengthening AG’s position as market leader in Belgium.

In exploring ways to accelerate growth, the Dutch market emerged as an attractive fast-evolving opportunity and one of increasing interest to insurers and investors alike. The initial area of focus is very much on Property and Liability risks for mid-sized businesses, but further down the road, there could be potential to also expand into automotive.

Through a branch office in The Hague, AG has started to build a small team to onboard several authorised agents throughout the year. Growth will be gradual; the long-term goal is to build a strong, profitable and sustainable business that adds value.

Commenting on the significance of this transaction, Edwin Klaps, Managing Director Broker Channel & Non-Life Development at AG said: “The market analysis AG conducted in 2024 showed that the Dutch insurance market offered AG significant potential for external growth, in addition to the organic growth already being pursued Belgium. The fact that in just over six months we were able to sign contracts with eight renowned MGA’s is proof to me that our decision to enter the Dutch market was the right one.”