The name may be new, but Ageas can in fact trace back its roots to the early part of the 19th century. It started life as the foremost Belgian insurer, Assurances Générales (still known as AG Insurance) back in 1824. Since then, its history has been a succession of mergers and acquisitions:
- 1990 AG Insurance merged with a Dutch company AMEV/VSB to form the insurance company Fortis;
- 1920 had seen the original founding of the Dutch insurer AMEV (Algemeene Maatschappij tot Exploitatie van Verzekeringsmaatschappijen) which in English literally means the General Society for the Operation of Insurance;
- 2007 saw Fortis as the 20th largest international business in terms of its earnings;
- 2007 Fortis made a bid for ABN AMRO, the Spanish bank, Banco Santander and the British Royal Bank of Scotland – this move coincided with the worldwide banking crisis, however, and the future of Fortis itself was saved only by a concerted bailout of governments from Belgium, Luxembourg and the Netherlands;
- The insurance and banking arms of Fortis’ Dutch operations were subsequently nationalised; and
- 2010 the change of name to Ageas N.V./S.A. was formally adopted.
Meanwhile, the Fortis Group in the UK went from strength to strength as is acquired Northern Star in 2000, to form Fortis Insurance. By 2007, the UK operations secured a new home headquarters in Gloucester, forged a partnership with TECH Systems Limited (to facilitate internet operations) and was voted UK General Insurer of the Year.
In 2009 Fortis concluded a major partnership with Tesco Bank, Aloi and Toyota GB.
In 2010, UK operations were also rebranded under the Ageas name, winning four British Insurance Awards and purchasing Kwik-Fit Insurance Services.
The following year, Ageas was again voted General Insurer of the Year. The group also acquired the British insurer Castle Cover Limited and, in 2011, Groupama Insurance Company Limited.
Ageas remains one of the relatively few British insurers offering its products entirely through brokers.
Landlord insurance is included amongst the company’s business insurance products as a form of cover specifically designed for property owners with either commercial or residential property to let.
Ageas landlord insurance
Ageas designs its policies for landlords to be sufficiently flexible to suit property owners of just a single let premises or those with a whole portfolio of properties – clearly, this is likely to encompass all manner of residential lets, blocks of flats or any kind of commercial property.
Ageas insurance for landlords includes the standard provisions required to protect the structure and fabric of your building or buildings and their contents, property owners’ liability, employers’ liability, loss of rental income (in the event of an insured event) and specifically designed cover for landlords of residential property to provide compensation for legal expenses and costs in defending any claim or pursuing any loss or damage.