Acquisition, Products and Partnerships – October 2023

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This month, KBC and Belfius Insurance announced the launch of their respective partnerships in response to the growing needs of the insurance sector. Vivium launched a new product for self-employed and medical professions. Find out more below.

 

KBC and the EIF join forces for more sustainable investments

KBC has signed an agreement with the European Investment Fund (EIF) to invest €200 million in sustainable infrastructure projects across Europe for a period of at least 20 years, thereby contributing further to its sustainability policy.

 

Belfius Insurance continues to develop its healthcare technology with Senso2Me

The insurer has chosen Antwerp-based sensor network pioneer Senso2Me for its Jane alarm system. This alliance will reduce the pressure on the healthcare sector, in particular by enabling vulnerable people to live independently in their own homes thanks to motion detectors and intelligent alarm systems.

 

Vivium launches a PLCI/VAPZ in branch 23

Vivium, a P&V brand, is now offering a PLCI/VAPZ combining the guaranteed return of branch 21 with the advantages of a return based on investment funds (branch 23) to the self-employed and medical professionals. A standard 25% of the premium can currently be invested in branch 23.

 

APRIL acquires Expat & Co

APRIL Group acquires Expat & Co, a specialist in international health insurance in Belgium. Through this acquisition, APRIL International strengthens its presence on the European continent regarding expatriation and international mobility and enhances its portfolio of solutions and health products. Expat & Co will benefit from APRIL International’s recognised expertise in Europe and from the partnerships forged with market leaders. Expat & Co will also draw on APRIL’s technological and service base to simplify its customers’ international healthcare experience.

 
 
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Market – October 2023

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This month, in addition to Baloise’s steps towards sustainability and Capgemini’s report, key figures on various areas of the market have been released. Find out more below.

 

Capital investments and risks insured by Baloise will be managed according to climate criteria

Baloise is taking a further step in the sustainable development of its business by adopting a climate roadmap. Baloise has signed up to the Paris Agreement and supports the European objective of zero net emissions by 2050.

The roadmap will ensure that capital investments and insured risks are managed according to climate criteria. Accordingly, Baloise intends to develop a reliable data base on which to set reduction targets for its portfolios by 2025.

 

Capgemini: World Life Insurance Report 2023

Life insurers should prepare for an unprecedented potential outflow of assets under management as the largest-ever intergenerational transfer of wealth nears, according to a Capgemini report covering 23 markets, including Belgium.

In response to this situation, life insurers should give priority to wealthy customers, who represent around 20% of the ageing population and who want more innovative life insurance products to help them age gracefully. This report proposes that life insurers adopt a customer-centric approach in order to offer global solutions with greater added value.

Find out more here.

 

Key performance figures for the Belgian sector in 2022

Assuralia has recently released the key figures for the insurance sector in 2022.

More information: Chiffres clés en 2022 or Kerncijfers in 2022.

 

EIOPA published its Annual European Insurance Overview

The Annual European Insurance Overview is an extension of EIOPA’s statistical services in order to provide an easy-to-use and accessible overview of the European (re)insurance sector regarding Life and Non-Life businesses, as well as Solvency and investments.

Check out the report: European Insurance Overview report 2023

 

Assuralia published a report about Belgians and their insurance

The report focuses on how Belgians rate insurance. Here are a few key points:

  • 44% of respondents find insurance products clear, although 49% define insurance as a complex subject.
  • 18% of respondents have changed insurers in the last three years, of which 7% to save money, 5% because of a change in the household and 4% because of dissatisfaction with the claims settlement.
  • Physical contact is preferred when taking out insurance, and contact by telephone is appreciated when seeking information or following up a claim.

 

Quarterly overview of Belgian public UCIs

FSMA has released its quarterly overview of Belgian public UCIs. The authority reports that the total net assets of these UCIs rose by 1% compared with the first quarter of 2023, amounting to €195.4 billion. In the second quarter of 2023, the sector recorded more redemptions than subscriptions, resulting in an outflow of €1.1 billion.

For more information, you can access the report here.

 

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Appointments – October 2023

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Who are the most recent appointments as directors and C-levels in the Benelux? Discover the new faces of Wilink and Allianz.

 

Dorsan van Hecke appointed CEO of Wilink Insurance, succeeding Dominique Dejean

Dorsan van Hecke

Dorsan van Hecke has over 15 years of experience in the sector and has held a number of senior positions at Generali and Delta Lloyd, before becoming CEO of Athora Belgium. He is also a member of the Board of Directors of Assuralia and Portima.

His mission will be to reinforce the development of Wilink Insurance, which celebrates its 10th anniversary next year.

 
 
Elke Vagenende appointed Commercial Managing Director of Allianz for its Benelux and Nordic region

Elke Vagenende

Elke Vagenende has already served Allianz in several positions, including Head of Market Management in the UK, Head of Financial Institutions and Head of Product Development for financial business. She then joined WTW in 2018 and moved to AIG where she has been Head of Multinational since 2021. Elke will join Allianz in the first quarter of 2024 to lead the newly created region under the new name Allianz Commercial.

She will represent all of Allianz’s general insurance solutions for medium-sized businesses, large companies and specialized clients in the market.

 

 

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Half-year results – Aug/Sep 2023

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This summer, insurance companies published their half-yearly results, and we summarise them for you in a chart.

 

 

Axa Belgium & Luxembourg half-year results

 

More information about these results: FR/NL

 

Allianz Benelux half-year results

More information about these results: FR/NL

 

Second quarter results KBC

More information about these results: EN

Ageas half-year results

More information about these results: FR/NL

 

Argenta half-year results

More information about these results: FR/NL

 

Belfius insurance half-year results

 

More information about these results: FR/NL

 

Baloise Group half-year results

More information about these results: FR

 

NN Group half-year results

 

More information about these results:  EN

 

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Products, Mergers & Acquisitions – Aug/Sep 2023

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This month, keep up with the latest products, mergers and acquisitions. Read more about Monument’s acquisition, EY and its demerger project, Ethias investing in moveUP and AG launching new health services.

 

AG Insurance offers new health services for its affiliates

With the launch of the MyAG Employee Benefits app, AG is bringing together all the group insurance benefits in terms of pensions, health and guaranteed income for its affiliates. In addition, AG also provides mental health services, access to video consultations with a doctor and discounts with healthcare partners.

Monument Assurance Belgium acquired portfolio from Federale Verzekering

Early August, Monument Assurance Belgium announced the acquisition of a run-off block of retail life policies, annuities and associated assets from Federale Verzekering.

 

EY rejects a proposal that could have relaunched its demerger project

Regarding EY’s planned demerger, the company has rejected a proposal from the US investment fund TPG, which could have enabled EY to separate its consulting and auditing activities. The fund proposed acquiring a share in the consulting branch, which could then have been listed on the stock exchange. The CEO of EY has announced that the company is not currently involved in any transactions.

 

Ethias Ventures invests in moveUP

Ethias Ventures, the venture capital subsidiary of Belgian insurer Ethias, has invested in a capital round launched by start-up moveUP. As a long-standing partner, Ethias expresses its satisfaction with their current collaboration, its willingness to invest in a start-up offering innovative solutions with high social value, and the potential for partnership between the health and insurance sectors.

 

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