BNP Paribas Sells AG Insurance Stake

French banking group BNP Paribas announced it is selling its 25% stake in AG Insurance to the Belgian insurance giant Ageas for 1.9 billion euros ($2.2 billion).

This transaction grants Ageas full ownership of Belgium’s largest insurer.

The deal also involves BNP Paribas increasing its current 15% shareholding in Ageas to 22% for 1.1 billion euros.

Ageas was formerly known as Fortis, whose retail banking operations were sold to BNP Paribas (creating BNP Paribas Fortis) after the 2007-2008 financial crisis.

BNP Paribas (News Central TV) — BNP Paribas sells AG Insurance stake. Credit: MarketScreener

Ageas CEO Hans De Cuyper stated that gaining full control of AG Insurance will strengthen their Belgian operations and partnership with BNP Paribas Fortis.

Additionally, AG Insurance will enter a long-term investment partnership with BNP Paribas Asset Management.

BNP Paribas expects the deal, scheduled to close in the second quarter of next year, to result in a net capital gain after tax of 820 million euros and to contribute an annual net profit of 40 million euros.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.