|Date joined:||12 January, 2022|
|Subsidiary of:||Ageas SA/NV|
|Initiatives:||Principles for Sustainable Insurance|
Brief Overview of Organization
AG Insurance is active on the Belgian Life and Non-Life insurance market and offers a broad range of products and services that cover the needs of individuals and companies. In 2020, AG Insurance recorded an inflow of 6,1 billion EUR, with a 65% /35% split between life and non-life insurance. Technical liabilities amounted to around 62,9 billion EUR.
AG Insurance is market leader in the Belgian insurance market. It serves close to 2,7 million Retail customers and 245.000.SME and corporate clients. AG Insurance distributes its insurance products (both Life and Non-Life) and services via more than 3.880 independent brokers and through a distribution partnership with BNP Paribas Fortis (including Fintro and ‘bpost bank / bpost banque’). The distribution of Employee Benefits products (Group Life and Health Care insurance) and related services is mainly a business-to-business activity. Sustainable and profitable business and robust risk management remain essential to fulfil obligations to customers, to offer a fair reward to shareholders and to fund future growth.
Since May 2009, AG Insurance 75% is owned by Ageas Group (already a UN PSI signatory) and for 25% by BNP Paribas Fortis. AG Insurance is either directly or indirectly shareholder of several operating and services companies. AG Insurance and its subsidiaries employs 5.784 full-time equivalent.
Those who contract an insurance policy do so as an act of foresight, to protect themselves against life’s risks or with a view to maintaining and raising their standard of living. Insurance therefore has by definition is a long-term horizon. For AG Insurance, as an insurer, the pursuit of sustainability is therefore part of the company’s DNA, translated through its entire range of products and services.
AG Insurance ‘s solutions cover major societal issues (health, pension, ageing, climate, mobility, ….) where the aspects of “sustainability” are often prominent.