Fitch Affirms Ageas Insurer Financial Strength Rating at ‘AA-’; Outlook Stable

Fitch Affirms Ageas Insurer Financial Strength Rating at ‘AA-’; Outlook Stable

Fitch Ratings has affirmed ageas SA/NV's Insurer Financial Strength (IFS) Rating at 'AA-' (Very Strong). ageas SA/NV is the ultimate holding company of the Ageas Group (Ageas). Fitch has also affirmed AG Insurance NV's and Ageas Insurance Limited's IFS Ratings at 'AA-'. The Outlooks are Stable.

The ratings reflect Ageas's very strong company profile and capitalisation, and its strong financial performance.

Ageas is a listed international insurance Group with a heritage spanning 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of EUR 17.1 billion in 2023.