as euronext ags industry financial services predecessor fortis holding founded 1990 as fortis ; 2010 as ageas headquarters brussels belgium key people jozef de mey chairman bart de smet ceo products insurance revenue 14.01 billion end 2013 1 profit 746.6 million end 2013 1 total assets 124.6 billion 2015 2 total equity 9.422 billion end 2013 1 number of employees 13 071 end 2013 1 website www.ageas.com ageas sa nv is a belgian multinational insurance company co headquartered in brussels . ageas is belgium s largest insurer and operates in 14 countries worldwide . the company was renamed from fortis holding in april 2010 and consists of those insurance activities remaining after the breakup and sale of the financial services group fortis during the financial crisis of 2007 2010 . contents 1 history 2 operations 3 references 4 external links history edit main article fortis finance the company s roots reach back to the 1824 foundation of the belgian life insurer assurances g n rales now ag insurance . 3 in 1990 ag took over the netherlands based bancassurer amev vsb to form fortis . 4 amev vsb had itself been formed earlier that year by the combination of savings bank vsb verenigde spaarbank and insurer amev which took advantage of the recent relaxation of dutch legislation preventing mergers between banks and insurers . 4 amev had originally been founded in utrecht in 1920 as algemeene maatschappij tot exploitatie van verzekeringsmaatschappijen english general society for operation of insurance . 4 after its creation in 1990 fortis expanded its offerings to include private and investment banking and asset management establishing subsidiaries around the world and by 2007 it had become the 20th largest business in the world by revenue . 5 that year fortis agreed to jointly purchase abn amro with banco santander and royal bank of scotland group but the onset of the major financial crisis exacerbated problems with financing its part of the large acquisition and prompted fears of impending insolvency . 6 considered too big to fail fortis received an 11.2 billion bailout from the benelux governments 6 and saw its retail banking operations in belgium sold to bnp paribas and its insurance and banking subsidiaries in the netherlands nationalised . the remaining assets of the company consisting principally of insurance operations but also including some distressed assets were rebranded fortis holding . in april 2010 its shareholders agreed a formal change of name to ageas sa nv with ownership of the fortis brand passing to bnp paribas . 7 operations edit the company is the largest provider of insurance in belgium 7 owning 75 % of ag insurance 8 the remainder is held by fortis bank n.v. s.a. which was sold to bnp paribas in 2009 . products are sold through independent agents brokers and financial planners and through branches of bnp paribas fortis and its subsidiary banque de la poste bank van de post . 9 ageas also wholly owns the subsidiary ageas insurance international formerly fortis insurance international through which it is the united kingdom s third largest provider of private vehicle cover and fourth largest provider of travel insurance through subsidiaries such as kwik fit insurance . which will close if great britain leaves the eu 10 ageas insurance international also operates in france and hong kong and holds partnerships or joint ventures in luxembourg italy portugal turkey china malaysia india and thailand . in addition ageas holds 45 % of royal park investments 8 a special purpose vehicle 11 which manages a portfolio of toxic structured credit assets 12 previously held by fortis bank . in september 2012 ageas acquired groupama s uk insurance operations boosting its presence in the automobile and home sectors . the deal will see ageas add another million policyholders in the uk . 13 in 2016 ageas acquired axa insurance operations in portugal becoming the second largest insurer by premiums the third non life insurer with a 14 % market share and the third largest life insurer with a 19 % market share . 14 references edit a b c d annual report 2013 ageas 2013 . http www.forbes.com global2000 list 5 header assets sortreverse true history . fortis real estate . retrieved 9 may 2010 . a b c history precursors . ageas . retrieved 9 may 2010 . fortune global 500 2007 fortis . fortune . cnn money . 2007 . archived from the original on 24 september 2008 . retrieved 2008 09 29 . a b deal agreed for euro bank fortis . bbc news online . 29 september 2008 . retrieved 9 may 2010 . a b blenkinsop philip 10 march 2010 . fortis returns to profit in 2009 unveils new name . reuters . retrieved 27 march 2010 . a b legal structure pdf . ageas . 30 april 2010 . archived pdf from the original on 24 may 2010 . retrieved 9 may 2010 . general meeting of shareholders 28 and 29 april 2010 speech of bart de smet ceo pdf . fortis holding . 29 april 2010 . retrieved 18 october 2010 . dey iain 28 september 2008 . b & b and fortis both in crisis . the times . retrieved 9 may 2010 . legal structure . royal park investments . retrieved 9 may 2010 . blenkinsop philip 8 may 2009 . buy or sell fortis emerges from legal shareholder battles . reuters . retrieved 9 may 2010 . the bourne local 20 september 2012 . ageas in 116m groupama takeover . the bourne local . ageas 27 june 2016 . ageas confirms completion of acquisition of axa s insurance operations in portugal . external links edit official website v t e bel20 companies of belgium ackermans & van haaren ageas anheuser busch inbev befimmo sicafi bekaert bpost cofinimmo colruyt group delhaize group delta lloyd d ieteren elia engie gbl kbc groep proximus group solvay telenet group ucb umicore v t e major insurance and reinsurance companies insurance composite aegon ageas aig allianz allstate aon aviva axa china pacific insurance china taiping generali ing japan post insurance national mutual insurance federation of agricultural cooperatives ping an insurance prudential plc pzu state farm insurance the hartford unipol unipolsai usaa vienna insurance group zurich insurance group farmers insurance group general insurance berkshire hathaway bnp paribas bradesco seguros direct line group hyundai marine & fire insurance if p & c insurance insurance australia group liberty mutual mapfre ms & ad insurance group picc qbe insurance rsa insurance group samsung fire & marine insurance sompo japan tokio marine travelers xl group life insurance aia aviva bupa china life cnp assurances dai ichi life great eastern jackson legal & general lic india lincoln manulife financial meiji yasuda life metlife new york life nippon life northwestern mutual old mutual phoenix group prudential financial samsung life scottish widows standard life sumitomo life sun life swiss life taikang life reinsurance gen re hannover re lloyd s of london munich re reinsurance group of america scor swiss re xl group methodology applicable fy2013 14 revenues of over us 3 billion retrieved from https 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