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Insurance news – April 2024
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Discover our summary of the major headlines in the insurance industry in BeLux with just a scroll!
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[av_timeline_item date=’April 22nd 2024′ title=’BNP Paribas acquires a stake of 6,65% in the share capital of Ageas’ link=” linktarget=” linkelement=’all’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2024/01/Ageas_logo.svg_-997×1030.png’ attachment=’17151′ attachment_size=’large’]
Following financial transparency rules, BNP Paribas submitted on 22 April 2024 a notification announcing that, on 19 April 2024, its shareholding exceeded the legal threshold of 5% of the shares issued by Ageas and reached 6.65%; thus taking over Fosun’s stake in the company.
Ageas and BNP Paribas have been partners for many years through Ageas’s joint participation (at 75%) and BNP Paribas Fortis’s (at 25%) in AG Insurance, as well as long-standing distribution partners for the Group’s insurance activities in Belgium. Ageas is pleased to see that BNP Paribas recognizes, through this investment, the value of its long-term partnership and the company’s potential for the future. (Source)
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[av_timeline_item date=’April 17th 2024′ title=’Ethias and Wallonie Entreprendre invest in SPARKI’ link=” linktarget=” linkelement=’icon_only’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2024/04/voiture-electrique-nissan-1030×1022.png’ attachment=’17572′ attachment_size=’large’ av_uid=’av-11hymlf’]
Ehias, Wallonie entreprendre, and Gridlink join forces to jointly invest 24 million euros in SPARKI, a Belgian startup specialized in electric vehicle charging stations. This initiative will enable SPARKI to accelerate the deployment of its charging stations throughout Belgium, thus contributing to the transition to more sustainable electric mobility. According to the “Belgian Mobility Dashboard” by FEB and FEBIAC, Wallonia has significantly fewer charging points than Flanders. With the EU deadline of January 1, 2035, approaching for the ban on new internal combustion engine vehicles, Touring urges the Walloon government to invest quickly in developing a robust public charging infrastructure to avoid falling behind regionally within Europe. (Source)
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[av_timeline_item date=’April 16th 2024′ title=’NN is the first insurer to offer group disability insurance’ link=” linktarget=” linkelement=’all’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2024/04/Design-sans-titre-3.png’ attachment=’17575′ attachment_size=’full’ av_uid=’av-tk6k83′]
NN Insurance Belgium NV launches a new group disability insurance that does not distinguish between mental and physical conditions, positioning itself as the first insurer in the market to offer equal coverage for these conditions. The insurer offers a dual proposition, giving policyholders the choice between unlimited coverage over time and coverage for up to two years per incident. In addition to the financial health aspect, NN also offers its award-winning wellness services to its members and their families, thus strengthening the focus on prevention and reintegration. New clients can opt for this new product starting from May 1st. (Source)
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[av_timeline_item date=’April 15th 2024′ title=’CD&V wants hospitalization insurance to cover suicide attempts.’ link=” linktarget=” linkelement=’all’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2024/04/operation-1807543_1280.jpg’ attachment=’17562′ attachment_size=’full’ av_uid=’av-1y0643n’]
In her bill proposal, Els Van Hoof suggests that it should be impossible to refuse insurance or charge a surcharge due to a past suicide attempt. The policyholder should also not be required to provide this type of information to take out a contract. (Source)
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[av_timeline_item date=’April 2nd 2024′ title=’KBC remains committed to a sustainable future.’ link=” linktarget=” linkelement=’all’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2022/03/KBC.jpg’ attachment=’12643′ attachment_size=’full’ av_uid=’av-rb3bmr’]
– €40.7 billion in responsible investment funds: 41% of total assets under distribution (direct client funds). By comparison, this amount was barely €2.8 billion in 2016.
– €7.4 billion: activities contributing to social objectives.
– €19.3 billion: activities contributing to environmental objectives.
– Social obligation: Second social obligation of €750 million for investments in schools and hospitals.
– 75% of employees participated in a webinar on responsible behavior between September and December 2023.
– KBC continues to focus on improving gender diversity in senior management by building a more balanced talent pool.
– Housing: KBC aims to develop the skills and attitudes of young adults regarding mortgage loans in Belgium and continues to act as a responsible lender.
(Source)
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[av_timeline_item date=’April 2nd 2024′ title=’Baloise transfers its Marine portfolio to DUPI’ link=” linktarget=” linkelement=’all’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2024/04/Design-sans-titre-4.png’ attachment=’17576′ attachment_size=’full’ av_uid=’av-sc2car’]
Starting May 1st, 2024, DUPI Underwriting Agencies will take over the Marine activities of Baloise Belgium SA. The Marine team of Baloise will transition to DUPI on the same date and will underwrite the Belgian Marine portfolio, handle claims, and manage administration. The acquisition means that DUPI can extend Baloise’s current policies. The capacity for this portfolio is provided by the French underwriter SMA SA (S&P A+ rated, stable outlook). The integration of Baloise’s Marine portfolio results in a substantial portfolio, estimated at around 50 million euros. (Source)
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[av_timeline_item date=’March 28th 2024′ title=’WikiTree signs a partnership agreement with its competitor WeGroup’ link=” linktarget=” linkelement=’all’ milestone_valign=’baseline’ milestone_color=” custom_milestone_color=” icon_image=’image’ icon=’ue800′ font=’entypo-fontello’ image=’https://www.asquarepartners.com/wp-content/uploads/2024/04/logo-wikitree.jpg’ attachment=’17580′ attachment_size=’full’ av_uid=’av-rmrf37′]
Through this agreement, WikiTree acquires the customer base of WeGroup, increasing its clientele from 150 to 400 customers. This positions the company as the second largest player in the Belgian insurtech market (digital solutions in the insurance domain), behind Portima’s Brio solution. The agreement between the two companies also allows WikiTree to enhance its offering of digital solutions, which includes an insurance product comparison tool using artificial intelligence. The solutions of both WikiTree and WeGroup will be integrated into a new platform called HiBroker. (Source)
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