Belgian insurer Ageas to pay $2.2 bln to BNP Paribas to buy full control of AG Insurance

Ageas SA/NV

08/12/2025 06:27

BRUSSELS, Dec 8 (Reuters) - Belgian insurer Ageas AGES.BR said on Monday it had agreed to buy a 25% stake in AG Insurance, giving it full 100 percent ownership of AG Insurance, for 1.9 billion euros ($2.21 billion) from BNP Paribas BNPP.PA.

The Belgian insurer will use cash and existing financing facilities, it added.

Due to the planned acquisition, Ageas raised its free cash flow target for 2027 to 2.6 billion euros up from a previous target of 2.3 billion euros and said it now expects to raise  shareholder remuneration to 2.2 billion euros from a previous 2 billion euros.

BNP Paribas owns about 15% in Ageas, according to LSEG data.

($1 = 0.8580 euros)

 (Reporting by Inti Landauro;
Editing by Sudip Kar-Gupta)

 ((Inti.Landauro@thomsonreuters.com;))