Ageas to bolster solvency after selling business
Ageas is to sell its French life insurance, savings and pension business to La Mutuelle Epargne Retraite Prévoyance Carac.
The business produced €6.1m (£5.4m) net profit at the end of 2022.
Carac is a mutual operating in the domain of savings, protection and pension business in France.
The sale will bolster Ageas group’s solvency by 9%. Regulators are expected to approve the sale, likely to be finished during the third quarter of this year.
Ageas cleaning up businessThe sale comes at a time when Ageas is looking to trim down its European book to concentrate on core business.
In February last year, Ageas sold
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