Ageas Group – From Belgium to the world

Ageas Group – From Belgium to the world
Ageas describes itself as an international insurer with a local identity. For abusiness whose heritage spans some 194 years, it has a clear strategic vision and a simple premise and goal; to provide customers, at every stage of their life, with peace of mind when they need it most. 

As a result, Ageas is able to say that it ranks among the market leaders in all the countries in which it operates.

The business today is one of Europe’s larger insurance companies offering life and non‑life insurance products to a range of personal and business customers in 15 countries around the globe from its home domicile of Belgium, across Continental Europe and Asia. 

It operates successful businesses through a combination of wholly‑owned subsidiaries and long‑term partnerships with strong financial institutions and key distributors in Belgium, the UK, Luxembourg, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines.

Ageas is a major international insurance group and one of the top 20 insurers in Europe. In 2016, Ageas posted over 32 billion Euros in business volume.

Strategy for success

Looking ahead, the business has a clear strategic growth plan. Called Ambition 2018, it represents a roadmap with key strategic targets aimed at achieving success and delivering to stakeholders.

The strategy focuses on seven key areas:
→ Long‑term partnerships, collaborating with best in class local partners.
→ The right balance between mature markets and growth markets across Europe and Asia. 
→ Offering a wide variety of insurance products and services for retail and business customers.
→ Meeting the demands of our customers, for simple, convenient and personalised insurance products and services.
→ A disciplined approach to sharing knowledge and implementing innovative ideas across the Ageas Group.
→ Tailored distribution to the local demands of our customers. Customers decide what, where, when and how they want to interact with the business.
→ Offering products that appeal most to customers and where the company believes they can make a difference.

Sustaining growth

The figures speak for themselves. In the last quarter of 2017, the business reported a far higher than expected net profit which rose 23 percent to €241m – beating the predictions of a number of analyst firms. This figure represented strong growth in Asia, a solid performance in continental Europe, thanks to increased healthcare, motor and household policies sales in Portugal and a solid performance in motor and home insurance in Belgium.

Portugal’s strategic potential

Having been in Portugal since 2005, supporting brands such as Ocidental and Médis and through its partnership with Millennium BCP, the Ageas Group has always recognized the Portuguese market’s strong strategic potential.

Demonstrating its ongoing commitment to partnership development, in 2015 Ageas acquired AXA Portugal; a business with remarkable synergies.

Continued investment has earned Ageas Portugal client and market respect, delivering numerous accolades. Today, Ageas is second in the Portuguese insurance market, an innovator for pensions and controller of leading health insurance brand, Médis.

Ageas in Portugal is one of the main contributors to the Group’s strong global performance and is recognised for its outstanding performance in several areas: the management of profitable companies and wide‑ranging service providers, its innovation, omni‑channel brand management strategy and the active role it plays in addressing social issues.

Discover MDS World