Discover our summary of the major headlines in the insurance industry in Belgium with just a scroll!
USAA is establishing a foothold in the European market in Luxembourg
24/04/2026 – Source
USAA is quietly strengthening its European footprint by establishing a branch in Luxembourg, operational since January 2025 and linked to its Irish entity.
While this move was initially driven by a regulatory requirement, it also serves a strategic purpose in securing continued access to the European market.
The Luxembourg branch will focus on non-life insurance, with a broad scope including reinsurance, consultancy, and claims management, signaling potential for gradual expansion.
Led by Christopher Lewis Parker, the entity provides USAA with a solid operational base in Europe, positioning the group to navigate an increasingly complex regulatory landscape and support its long-term ambitions in the region.
Belfius eyes french insurtech Acheel for international expansion
16/04/2026 – Source
Belfius is reportedly considering the acquisition of Acheel as part of its strategy to expand into the French insurance market. This move aligns with Belfius’ ambition to export its direct insurance model internationally, with France identified as a priority market.
Acheel, founded in 2021, has quickly established itself as a fast-growing and profitable digital insurer, generating €240 million in premiums in 2025 (+20%) and reaching profitability as early as 2023.
Its fully digital, competitively priced offering and European expansion make it an attractive target, potentially valued at over €300 million.
While Belfius is among the interested parties, other major players such as CNP Assurances may also be in the running.
If confirmed, such a deal would mark a significant step in Belfius’ international growth strategy and positioning in the European insurtech landscape.
Allianz benelux strengthens its strategy for micro-enterprise with a 360° approach
16/04/2026 – Source
Allianz Benelux is reinforcing its position in the Belgian micro-business segment through a targeted strategy combining tailored pricing, simplified products, and enhanced digital tools for brokers.
This initiative responds to a fast-growing “PME/KMO” landscape, where very small businesses dominate but remain significantly underinsured despite increasing exposure to risks such as cyber threats, business interruption, and regulatory changes.
To address this gap, Allianz is deploying a clear Non-Life strategy built on four pillars: broader risk appetite across key sectors, improved customer service, competitive pricing focused on coverage depth, and streamlined digital underwriting via tools like Prolink SME.
Packaged solutions, such as the All-In-One Pro Package, further simplify decision-making by combining multiple coverages into a single, cost-efficient offer.
In parallel, the Allianz Risk & Insurance Scan enables entrepreneurs to assess their risk exposure and identify coverage gaps, fostering more structured discussions with brokers.
Swiss Life Network is being sold to Generali for €30m
08/04/2026 – Source
Generali and Swiss Life are joining forces to create a global leader in employee benefits, combining their networks to manage over €3bn in premiums.
However, official filings reveal that the transaction itself is valued at around €30 million, reflecting not premium volumes but the value of intangible assets such as partnerships, contracts, and operational infrastructure.
This highlights a shift in the business model: rather than carrying risk, employee benefits networks focus on coordinating international insurance programs for multinationals through local partners, generating revenue from fees and services.
The merger strengthens Generali’s global platform in a fast-growing, capital-light segment, leveraging complementary geographic coverage and expertise.
Led by Ludovic Bayard within the Generali Care division, the combined entity aims to become a key partner for multinational clients.
Overall, the deal reflects a broader industry trend where value increasingly lies in network orchestration and recurring cash flows rather than balance sheet size or risk ownership.
Ethias Lease confirms its trajectory in a fast-growing electric mobility market
08/04/2026 – Source
Ethias Lease continues to scale its 100% electric leasing model, reaching 2,300 vehicles ordered and 1,900 already on the road, with monthly revenues of €1 million and a total contract value of €60 million.
Operating in a rapidly growing Belgian EV market, where electric vehicles now represent over one-third of new registrations, the company highlights a shift from adoption to usage optimization.
While demand is largely driven by corporate fleets, new challenges are emerging around total cost of ownership and charging behaviors. Ethias Lease data shows that many users still do not charge their vehicles efficiently, potentially impacting battery performance and long-term costs.
To address this, the company is launching coaching initiatives based on usage data to improve charging practices and enhance user experience.
Its integrated model, combining leasing, insurance, charging solutions, and user support, positions Ethias Lease as a key partner for companies navigating the transition to electric mobility.
Looking ahead, the company aims to reach 9,000 vehicles and 1,500 home charging points by 2028, reinforcing its ambition to simplify and accelerate corporate electrification.
Belfiuss accélère dans l’assurance digitale et vise une expansion en France
03/04/2026 – Source
Belfius has unveiled its new “Unlock 2030” strategy, aiming to reach €2 billion in pre-tax profit by 2030, driven by a multi-brand approach and strong investments in digital transformation.
The group is leveraging key brands such as ReBel and Hey Belfius, an AI-powered assistant designed to enhance customer interactions and automate up to 80% of remote exchanges over time.
International expansion is a core pillar, particularly in insurance, where Belfius plans to enter the French market through a partnership or acquisition rather than launching its own brand.
This ambition is supported by the strong growth of its insurance activities, which already contribute 25% of the group’s net profit, and by the low penetration of digital insurance in key markets like France.
More broadly, Belfius is investing heavily in technology, partnerships, and innovation to strengthen its positioning in areas such as AI, payments, and financial education, while preparing for partial privatization.
Overall, the strategy reflects a clear ambition to combine growth, digital leadership, and European expansion in an increasingly competitive landscape.
