Fitch affirms Ageas’s AA- Insurer Financial Strength Rating with a Stable Outlook
Fitch Ratings has affirmed Ageas SA/NV's Insurer Financial Strength (IFS) Rating at 'AA-' (Very Strong). Fitch has also affirmed AG Insurance's and Ageas Insurance Limited's IFS Ratings at 'AA-'. All Rating Outlooks are Stable.
The ratings reflect Ageas’s very strong business profile and capitalisation and its strong financial performance.
Ageas is a listed international insurance Group with a heritage spanning almost 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, Turkey, 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 44,000 people and reported annual inflows of more than EUR 16 billion in 2022.