Ageas, an international insurance group, has announced the completion of the sale of its French life insurance, savings, and pension business to La Mutuelle Epargne Retraite Prévoyance Carac (Carac). The sale received all necessary regulatory approvals and has now been finalized.
Ageas’s French Life and Pension activities include Ageas France, Ageas Retraite, Ageas Patrimoine, and Sicavonline, while Carac is a mutual operating in the domains of savings, protection, and pension business in France.
The completion of this transaction will result in an increase in the liquidity of Ageas by approximately EUR 185 million. Furthermore, it will have a positive impact on Ageas’s Solvency II Pillar II ratio by 9%, based on the position as of the end of June 2023.
Ageas is an internationally listed insurance Group with a rich heritage of nearly 200 years. The company offers Life and Non-Life insurance products tailored to the specific needs of retail and business customers. It is also involved in reinsurance activities. As one of Europe’s largest insurance companies, Ageas primarily operates in Europe and Asia, which represent the major part of the global insurance market.
Ageas operates successful insurance businesses in a range of countries, including Belgium, the UK, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines. These operations are carried out through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas is recognized as a market leader in the countries where it operates. The company employs approximately 44,000 people and reported annual inflows of over EUR 16 billion in 2022.
For more information, you can refer to the [pdf version of the press release](https://www.globenewswire.com/Tracker?data=4i9FdpzU6v6ENPSg1-z_lpX0rg9QpOxDHJN_dtVF0pQ7ul77gF9FBnEEoJPaM0yfK1faw6XmmapC3Z0c6BRVErGyd4xGhZrnfNCNrhuSIzNpsPpMNx0YGqGS0ieL_ChS2rGqcWgWBM5o1-v2EKe0BN8raYuCSdT8GudE3NuPQfJuBJysN6up7tUYzrYpeXn-) provided.