BNP Paribas and Ageas Groups have signed a new framework agreement.
Focussing on the Belgian bancassurance operations between AG Insurance and BNP Paribas Fortis, this agreement renews their long-standing exclusive collaboration and establishes a sustainable framework to accelerate growth, particularly in the digital space.
The partnership encompasses savings, protection, and property & casualty insurance, combining the expertise of BNP Paribas Fortis and AG Insurance to better serve their clients.
Additionally, AG Insurance and BNP Paribas Asset Management are launching a long-term investment partnership across selected asset classes, leveraging BNP Paribas Asset Management’s enhanced offerings for insurers and pension funds following its recent integration with AXA IM.
In this move, Ageas is strengthening its position in its core Belgian market by acquiring BNP Paribas Fortis’ 25% stake in AG Insurance for a total of EUR1.9bn ($2.2bn).