AFC Leuven

Ageas: an international Insurance Group Bart De Smet, CEO AFC 25 February 2014

1824: Creation of AG Life in Belgium 1830: Creation of AG Fire

1919: AG introduces Group policies

1931: AG creates AG Permanent Health Insurance

1969: The different AG companies become AG 1824

1990: Creation of Fortis, a Belgo-Dutch insurance group out of AMEV/ VSB + AG

1993: Fortis acquires a majority interest in ASLK-CGER and lays the foundations of the bancassurance model

1998-2000: Fortis acquires the Generale Bank and becomes a solid bancassurer

2001: Fortis starts insurance activities in Asia

2007: Fortis acquires selected ABN AMRO-activities

2008: Fortis sells its banking activities and becomes a pure insurance player

September 2009: the insurer reveals its new strategy

A long history that started in 1824

AFC Leuven 25/02/2014

Fortis became Ageas in April 2010 Aiming to become the insurance partner by excellence in Europe & Asia


Italy Portugal

France

UK

Belgium

Luxembourg

Turkey

China

India

Malaysia

Hong Kong

Thailand

Focus on Europe & Asia - Active in 12 countries


End 2013: • Group inflows at

EUR 23.2 billion

• Insurance net profit at EUR 654 million

• Shareholders’ equity at EUR 8.5 billion

• Insurance solvency at 207%

• More than 13,000 employees & over 30,000 in the non-consolidated partnerships


Company profile A solid mid-sized international insurance group based in Europe

Company Inflows FY12

99 85

70 52

39 32

30 29

27 24 23

21 21 20 20 19

17 14 14

10

AllianzAxa

GeneraliMunich Re

ZurichAvivaCNP*

Prudential*Talanx

BNP Paribas CardifCrédit Agricole

AgeasMapfre

INGAchmea (Ex-Eureko)

AegonSwiss LifeGroupama

CoveaFonsai

13

15 16

14

17 18

12

1 2 3 4 5 6 7 8 9 10 11

19 20

Source: Company Data

Ageas

EUR bn

Active under many local brands with solid market positions

Italy

UK

Portugal

Malaysia

China # 7 Life

> 100,000 agents

India

Belgium # 1 Life 27%

# 2 Non-Life 16%

Portugal # 1 Life

Italy # 1 Bancassurance

Non-Life

Malaysia #2 / #1 in Islamic insurance

Thailand # 2 in Life (#1 New Business),

# 7 in Non-Life

Turkey # 4 Non-Life

*

Partn

ers

Dis

tribu

tion

com

pani

es

Situation on December 31, 2013.

UK - # 2 Motor 3.6 million Motor policies

Largest Belgian Real Estate Group

EUR 6.1 billion



Life: leading position in Belgium, Portugal & Luxembourg

AXA

Belgium: n°1 in % FuM Lombard

Int

Sogelife

Other

Cali Europe

Cardif Lux Int

Source : FSA data - 2010

(27%) AG Insurance

Ethias

KBC Dexia

Others

AXA

Ethias KBC

P&V

Others AG Insurance

(16%)

Company profile We have strong market positions in Europe…

Luxembourg: n°2 in % FuM

Non-Life: leading position in Belgium & UK, growing in Italy, Turkey & Portugal Belgium: Solid n°2 in % GWP UK: 3rd largest car insurer in # vehicles insured

Source: Assuralia – 2011 market shares

(14%)

0

2,000

4,000

6,000

8,000

(000

)

Ageas acquired Groupama UK in 2012


Company profile …While significant growth potential in Asia

Hong Kong

Malaysia

India Thailand

China

Shareholders structure

Based on number of shares as at 31 December 2013

Ageas3.02%

Ping An 5.18%

BlackRock, Inc.5.02%

Franklin Mutual Advisers2.97%

Norges Bank

BNPP & Fortis Bank Identified retail

investors16%

Identified institutional investors

39%

Other investors23%

Ageas Based upon press release 6 January 2014Ping An Based upon the number of shares mentioned in the notification received 6 May 2013

Franklin Mutual Advisers Based upon the number of shares mentioned in the notification received 22 August 2013BlackRock, Inc. Based upon the number of shares mentioned in the notification received 22 July 2013

Norges Bank Based upon the number of shares mentioned in the notification received 20 August 2012BNP P & Fortis Bank Based upon BNP Paribas notification 01 October 2012

Identified retail investors Estimate byIdentified institutional investors Estimate by


Ageas’s vision towards 2015


Ageas’s vision towards 2015

To have a diversified product offering

To capture growth in mature & emerging markets in Europe & Asia

To commit to our partners and their customers

To be where our customers want us to be

To focus on our insurance capabilities

5 strategic choices


Clear financial and performance targets


Six important values


AFC Leuven 25/02/2014 Your partner in insurance

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