BNP PARIBAS : BNP PARIBAS GROUP SELLS ITS STAKE IN AG INSURANCE AND FORMALISES LONG TERM PARTNERSHIP WITH AGEAS

Core Viewpoint - BNP Paribas Group has sold its 25% stake in AG Insurance to Ageas for EUR 1.9 billion, formalizing a long-term partnership focused on bancassurance operations in Belgium, particularly in digital development and investment management [1][2]. Group 1: Partnership and Stake Sale - The partnership between BNP Paribas and Ageas aims to enhance the bancassurance operations of AG Insurance and BNP Paribas Fortis, focusing on savings, protection, and property & casualty insurance [1]. - Ageas is consolidating its position in the Belgian market by acquiring BNP Paribas Fortis' stake in AG Insurance, which is valued at EUR 1.9 billion [2]. - BNP Paribas Cardif will increase its stake in Ageas from 14.9% to 22.5% through a EUR 1.1 billion capital contribution, strengthening Ageas' growth capacity while maintaining its independence [3]. Group 2: Financial Impact - The transaction is expected to be finalized in the second quarter of 2026, pending regulatory approvals, and will result in a net capital gain after tax of EUR 820 million in 2026 [4]. - BNP Paribas Group's net income is projected to increase by EUR 40 million annually following the completion of the transaction [4]. Group 3: Strategic Statements - The CEO of BNP Paribas highlighted the growth potential in the bancassurance business through the partnership with AG Insurance and the new asset management platform [5]. - The CEO of Ageas emphasized that this transaction is a significant milestone in implementing their Elevate27 strategy, allowing for further advancement in Belgian operations [5].