BNP Paribas Fortis sells its stake in AG Insurance to Ageas and strengthens its bancassurance model by renewing the distribution agreement for 15 years
BNP Paribas Fortis has reached an agreement to sell its 25% share in AG Insurance to the Ageas Group, the parent company of the insurer, for 1.9 billion euros. At the same time, BNP Paribas Fortis and AG Insurance have announced the renewal of their insurance distribution agreement for a 15-year term.
By extending its 15-year distribution agreement with AG Insurance—effective 1 January 2027—BNP Paribas Fortis reinforces its bancassurance model and reaffirms its ambition to play a key role in the sector aiming to enhance support for individual, professional, and business clients. The renewed partnership between these two Belgian market leaders reflects a sustainable approach, underpinned by trust, strong commercial momentum and a shared vision for the evolving insurance market. Together, they will further enhance support for individual, professional, and business clients.
The shared roadmap is designed to reinforce the offering of life and non-life insurance products, expand the range of available solutions, accelerate digital innovation, and provide greater flexibility, personalisation, and advice for every customer profile.
The increased development of digital channels is a major pillar of the renewed agreement. By leveraging the integration of digital services, online subscription tools, and remote solutions, BNP Paribas Fortis aims to simplify customer journeys and offer a smoother, more accessible experience. This evolution seeks to achieve greater customer satisfaction, improved responsiveness, and a strengthened ability to support the key moments of clients’ personal and professional lives.
The divestment of this stake aims to focus the bank’s equity on its other core activities while optimising capital allocation. By separating the capital investment from the exclusive commercial partnership, BNP Paribas Fortis positions itself to continue its growth, leveraging a more agile and innovation-driven distribution model.
This transaction opens a new chapter in the relationship between BNP Paribas Fortis and AG Insurance, built on solid collaboration, shared long-term objectives, and a mutual commitment to supporting evolution in the insurance market for the benefit of clients.
Michael Anseeuw, CEO of BNP Paribas Fortis: "BNP Paribas Fortis has been playing a pioneer role in developing the integrated bancassurance model in Belgium. The 15-year extension of our partnership with AG Insurance reflects our sustained double-digit growth and reinforces our defining role in shaping and securing the future of this model. We look forward to deepening our collaboration with AG Insurance by investing in innovative solutions, specialised expertise, and digital channels for our individual and professional customers."
Heidi Delobelle, CEO of AG Insurance: “The saying ‘Never change a winning team’ applies perfectly here. In recent decades, we have worked excellently together with BNP Paribas Fortis, in the interests of our shared clients and both companies. That’s why I am particularly pleased to be able to extend our partnership for a further 15 years. Together, we will be better equipped to meet the societal challenges ahead, such as the increasing digitalisation of customer journeys. This will allow us to better serve our clients and realise the ambitions of our ‘Elevate27’ strategy.”
