Actuary, among the highest paid professions in Belgium

Jobat, the belgian job search engine, has released its Annual Salaries Report. This year, the actuarial profession is shining at the 6th position of the ranking with an average gross salary of 5.814 euros/month. (Do you think it reflects the reality? Comment below).

Besides the managers and directors, it is mainly mathematicians, physicists and engineers who register the highest average gross salaries. Nowadays, a Belgian worker with a full-time contract earns an average gross salary of 3.783 euros per month.

ProfessionAverage gross monthly salaryCompared to the national average
1.CEO10.465 euros+ 176,6%
2.ICT Director7.807 euros+ 106,4%
3.Business manager and administrative Director7.609 euros+ 101,1%
4.PR, Advertising, sales, marketing and R&D Director7.039 euros+ 86,1%
5.Manager in the industry, building and logistic6.869 euros+ 81,6%
6.Mathematician, actuary and statistician5.814 euros+ 53,7%
7.Physicist, chemist and related professions5.626 euros+ 48,7%
8.Electrical engineers5.443 euros+ 43,9%
9.Manager in retail and wholesale5.403 euros+ 42,8%
10.Ingénieers5.383 euros+ 42,3%


The 5 sectors with the highest wages

By analyzing the different sectors, actuaries figure at the 3rd position of the ranking. Here’s the top 5 of the highest-paid sectors in Belgium:

SectorAverage gross monthly salary
1.Chemical & Pharmaceutical industry4.639 euros
2.Energy & environment4.376 euros
3.Bank & insurance4.174 euros
4.Electronics and technological industries4.081 euros
5.Public authorities4.073 euros



Source : 

Main figures of the Belgian insurance market in 2020

Like every year, Assuralia gathers the main figures of the Belgian insurance market. What are the main figures of 2020?

2020 was a very special year: the world looked for a way out of the coronavirus pandemic, people have been unable to leave their homes for a long time and many sectors have suffered from the forced suspension of their activities. The Belgian insurance sector has held out against the coronavirus test. That results in a solvency ratio of 2 percent higher than last year. Its level is almost twice as high as required by the law. In conclusion, the sector was even more armed than the law requires to deal with the historic floods of 2021 (even if the impacts of this drama will only manifest in next year’s numbers).

Here’s the ranking of the insurance companies on the Belgian market by market shares.

Some figures : 

  • Total premiums (24.899 billion euros in 2020) down 2.3% (-4.8% in life, -2.3% in non-life).
  • The cost/collection ratio is 25.2% (10.7% commissions, 7% personnel costs, 7.5% other operating costs).
  • The net result in 2020 decreased from 2.46 billion euros (in 2019) to 1.81 billion euros.



Source :

Appointments in Belgium – October 2021

Who are the most recently appointed directors and C-levels? October is quiet in terms of nominations.



Etienne Bouas-laurent, Directeur général d'Axa Belgique - Carnet des décideurs de l'Argus de l'Assurance

Etienne Bouas-laurent

Etienne Bouas-Laurent, the recently appointed CEO of AXA Belgium, has also been appointed as Vice-President of Assuralia. The French executive takes over the VP seat of his predecessor, Jef Van In, both at Assuralia and AXA Belgium.

Following the other changes in the Executive teams of the Belgian insurance companies, there were other changes in  the Board of Directors :

  • Martine Magnée will continue the mandate of Philippe de Longueville on behalf of P&V;
  • Tom De Troch will take over from Tom Meeus on behalf of Federale;
  • Jan Van Hove will take over the mandate of Hans Verstraete on behalf of KBC;
  • Jan Vande Weghe will now represent the MS Amlin Group, while the Board approved the appointment of Frank Fripon (KBC) as successor to Werner Van Steen as Chairman of the Individual Life Technical Commission and, consequently, Vice-Chairman of the Life Division.


Lloyd’s Insurance Company

Mark Cooper (Lloyd’s Insurance)

The Brussels-based Lloyd’s Insurance Company announced the appointment of executives for its UK operation.

As of November 1st, Mark Cooper took over as Head of the Lloyd’s UK branch. In addition, he retains his current role as Head of European Branches and Chief Market Development Officer for Lloyd’s.


Degroof Petercam

Hugo Lasat (Degroof Petercam)

At the beginning of July 2021, the Board of Administrators of Degroof Petercam proposed Hugo Lasat as new CEO of the company. Previously, he was in charge of DPAM, the Asset Management entity of the group. The regulatory authorities confirmed that Hugo Lasat was ‘fit & proper’. Following this statement, the Board of Administrators confirmed his appointment as CEO. As for Bruno Colemant, he will keep working on the private bank’s activities. Peter De Coensel will take over Hugo Lasat’s position at DPAM.



Keeping up with market – October 2021

Every month we help you keep up with the news of the Belgian insurance market.


Mergers & buy-outs

Athora Belgium & NN Insurance Belgium

Athora Belgium | LinkedInAthora Belgium has officially started negotiations with NN Insurance Belgium to buy out a retail life portfolio. The said-portfolio includes 200 000 insurance policies, representing €3,3 billion worth of managed assets.

The transaction should be done by the end of the 1st semester of 2022. Athora Belgium will have to receive approval from the regulatory authorities before integrating this new portfolio. The life insurer from the Bermuda is looking into strengthening its position on the Belgian market.


Brokerage: Howden takes over Sarton & Associés

Herman Kerremans, CEO at Howden Belgium

Herman Kerremans, CEO at Howden Belgium

Just a year after arriving in Belgium, the British broker Howden takes over Sarton & Associés, a Belgian insurance broker based in Uccle.

Sarton, primarily active in Brussels and Wallonia, is well known as an insurance broker for hospitals and universities, although it also has a number of large private companies in its portfolio. It is not known how much Howden is putting on the table. With this acquisition, Howden becomes a company of forty people with a turnover of €5 million.


Partnerships & Products

Ethias and DELA

DELA Assurances - Assurances.beBelgian insurer Ethias has signed a partnership with DELA, the insurer specialized in Funeral insurance. Ethias aims at strengthening and completing its products and services. Indeed, thanks to this partnership they can now offer a full burial cover. The solution of “Plan Prévoyance obsèque / Uitvaartzorgplan” offers emotional and administrative support to the closed one as well as the financing of the funerals.


BNP Paribas Cardif & JAB Holdings

The two companies have signed a partnership to develop a range of pet insurance covers and other pet healthcare services throughout the UK, EMEA and Latin America.

BNP Paribas Cardif has already invested in the pet insurance cover through its subsidiary Cardif Pinnacle, active in the UK. The subsidiary will have an important stake in this business, liaising with the holding. Meanwhile, the alliance significantly enhances JAB’s pet insurance platform, now expanding its global reach to the UK, EMEA and Latin America. Through its Independence Pet Holdings platform, JAB recently acquired several leading American pet insurance businesses. This move will allow both structures to keep growing, both in numerical and geographical growth.



Amazon Product Liability Insurance: What Sellers Need to Know

Amazon, the retail giant, has already set up an “Insurance Accelerator” in order to propose digital insurance to cover products’ civil liability. So far this risk is co-supported by 6 British insurers including Chubb, Hiscox, and Liberty Mutual.

Amazon has recently leveled up by partnering with Superscript (a British startup) to develop new insurance covers for SMEs. The solutions should cover liabilities, cyber risks, and goods casualties.



AXA Belgium has launched a new service to its insured in Health insurance; AXA MediCheck Online. This brand new service gives you an initial idea of your illness based on your symptoms thanks to a questionnaire on the MyAXA Healthcare App. After this short questionnaire, the policyholder gets a first idea of his·her illness in the form of a report that he·she can download and send to his·her doctor. Finally, the patient is free to request an online consultation with a doctor or psychologist via Doctors Online by AXA.

This innovation is part of the insurer’s strategy to develop its offer in the field of health care. It is a first on the Belgian insurance market.

AXA intends to offer a fast and convenient service combining scientific accuracy with a secure and user-friendly IT environment. AXA does not keep the medical data and does not share them with the employer.


Prizes and trophies

DECAVI’s life insurance trophies

Each year, DECAVI rewards the insurers of the Belgian market. On October 27th the Life insurance trophies took place. This year, the winners are:

Individual pension:

  • Savings insurance Fédérale Assurance for Vita Pension
  • Investment: Guaranteed rates solutions: Vivium for Capiplan
  • Investments:
    • Multi-support range branch 21-23: Belfius Insurance for Kite Mix
    • Life insurance linked to an investment funds (branch 23 Medium risk): AG Insurance for AG Life Equity World Aqua
    • Life insurance linked to an investment fund (branch 23 High risk): Athora Belgium for Mainfirst Global Equities Unconstrained.

Pension for self-employed:

  • Free Supplementary Pension for the Self-employed : AXA Belgium for Pension Plan Pro.
  • Individual pension commitment (EIP) : Fédérale Assurance for F-Manager VIP.2
  • Pension agreement for self-employed (CPTI) : Vivium for Capiplan CPTI


  • Death related to a mortgage loan (outstanding balance insurance): NN (Hypo Care) and AFI ESCA for Protectim.
  • Funeral expenses insurance: DELA for DELA Funeral Plan.
  • Guaranteed income: DKV Belgium for Plan RG Continuity + Exo

Innovations (services, claims, products…):

  • Allianz Benelux for Allianz Fit for Growth


  • AXA Belgium for Digital Customer & Broker Journey in Life & Health

Societal commitment:

  • Communication: AG
  • Pandemic: Ethias

Sustainable investments:

  • NN

Best ad campaign:

  • AXA Belgium for “Know you can”


  • AG Insurance


AG Insurance

AG won two trophies at the sixth edition of the Belgian Sponsorship Awards. The ‘AG musette’ campaign, which was seen during the Ardennes classics in Wallonia, received the Bronze Best Sponsorship Award.

Additionally, the campaign ‘Tous contre la solitude‘ (All against loneliness) won the jury’s heart and received the special ‘Coup de Coeur’ award.