The multinational insurance company Ageas has made the announcement that it would be selling its insurance, savings, and pension operations in France.
The group is in in discussions with La Mutuelle Epargne Retraite Prévoyance Carac on the potential sale of Ageas French Life and Pension activities. These activities include Ageas France, Ageas Retraite, Ageas Patrimoine, and Sicavonline (Carac).
A cooperative organization in France that works in the fields of savings, protection and pension business is known as Carac.
The consolidated perimeter of Ageas French Life and Pension activities reflected an Unrestricted Tier 1 of €161 million as of the end of 2022. Also, the company had a Solvency II ratio of 216%, IFRS technical provisions of €3.9 billion, and an IFRS Net Profit of €6.1 million.
The company emphasized the fact that this planned divestiture is in keeping with Ageas’s goal to consolidate its European portfolio and to concentrate on its core markets in the area.
The majority of Ageas’s operations are focused in both Europe and Asia. It runs its insurance businesses in Belgium, the United Kingdom, France, 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 robust financial institutions and key distributors. These countries include Belgium, the United Kingdom, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, and Singapore.
The conference with the employee representatives in France is going to be the next stage in the process of selling the company. The disposal that is being planned will call for clearance from the relevant regulatory bodies.
In accordance with what was said in the statement, all sides have agreed to abstain from making any additional comments until the negotiating process has been completed.
Network Hype Team