BNP Paribas to acquire a stake in Ageas

BNP Paribas, through its insurance subsidiary BNP Paribas Cardif, has agreed to acquire a 9% stake in Belgian insurer Ageas from Chinese conglomerate Fosun International for approximately €730 million.

Ageas and BNP Paribas have been partners for several years via the joint shareholding of Ageas (75%) and BNP Paribas Fortis (25%) in AG Insurance and with BNP Paribas Fortis being a long-standing distribution partner to the group’s Belgian insurance activities.

The acquisition does not modify the existing partnership between the companies.