Resolutions of the General Meeting of Shareholders of Fortis N.V. on 29 April 2010 in Utrecht
(Thomson Reuters ONE) -
The General Meeting of Shareholders of Fortis N.V. has approved all the
proposals submitted to it by the Board of Directors.
16.79% of the share capital was represented at Utrecht.
The General Meeting of Shareholders has approved the company's statutory annual
accounts for the financial year 2009; the adoption of a gross dividend of EUR
0.08 per Fortis Unit; the remuneration policy for members of the Board of
Directors and the Group Executive Committee; and the remuneration of
non-executive members of the Board of Directors of Fortis N.V.
The meeting subsequently approved the nomination of Bridget McIntyre and Belén
Romana as non-executive directors until the end of the Ordinary General Meeting
of Shareholders in 2013.
The other agenda points, including the change of the company's name to 'ageas
n.v'., were also approved.
Lastly, the meeting approved the proposal to discharge the members of the Board
of Directors for the financial year 2009.
Addressing shareholders, Jozef De Mey, Chairman, stressed that Insurance is, and
will remain, Fortis's core business in the future backed by more than 180 years
of expertise and experience. He added that Fortis intends to play a prominent
role and be a frontrunner in the insurance sector within its chosen markets.
Mr De Mey outlined some of the key priorities undertaken by the Board during the
past year. Specifically, he highlighted the overhaul of the corporate
governance process including the establishment of strengthened Board committees
and two key task forces to help address the legacy issues. The Chairman also
reiterated that the overriding duty of the Board was to protect the interests
and the long term financial stability of the new Fortis. In the context of new
Fortis, Mr De Mey also welcomed support for the new brand Ageas, the starting
point for the next chapter in the company's history.
In respect of the legacy issues, Mr De Mey stressed his hope that these could be
resolved as quickly as possible so that the company can focus its full attention
on the future. At the same time, he reiterated the commitment of the company to
address all legal proceedings in the best interests of shareholders. He
emphasized that the best way for shareholders to recoup their losses was not
through the litigation route, which could further damage the company, but by
supporting the company in its growth.
Bart De Smet, CEO, acknowledged the progress that had been made following the
approval of the deal with BNP Paribas, which culminated in a solid and strong
financial performance achieved during a tough year for the company and the
economy as a whole.
Mr De Smet referred to the company being once again on track and he reiterated
his intention to do everything possible to rebuild the company and to make it a
solid insurer in the European and Asian markets. He confirmed the company is
well placed to achieve its 2010 objectives, including among others:
· Continued streamlining and strengthening of the insurance activities;
· Maintenance of a prudent asset mix with strong solvency and liquidity;
· Finalisation of the rebranding and repositioning of the company.
While outlining the strategy, Mr De Smet discussed one of the major building
blocks of this strategy, the partnership model. He stressed that the
partnership model offers a lot of possibilities and on this basis it is
something the company intends to develop based on a proven ability to enter into
worthwhile partnerships in Europe and Asia.
Mr De Smet referred to the strategic objectives formulated by the company as an
illustration of a new group dynamic, and one supported by a new and simplified
management team structured in order to realise maximum synergies and to
encourage the exchange of knowledge and experiences.
The full speeches and the results of the votes are available on www.fortis.com
shareholders.
Fortis is an international insurance company with a heritage spanning more than
180 years. Ranked among the top 20 insurers in Europe, Fortis has chosen to
concentrate its business activities in Europe and Asia, which together make up
the largest share of the global insurance market. It is an undisputed leader in
the Belgian market for individual life and employee benefits, as well as a
leading non-life player through AG Insurance. Internationally, Fortis has a
strong presence in the UK, where it is the third largest private car insurer.
The company also has subsidiaries in France, Germany, Turkey, Ukraine and Hong
Kong. Fortis has a strong track record in developing partnerships with key
distributors in different markets and successfully operates partnerships in
Luxembourg, Italy, Portugal, China, Malaysia, India and Thailand. Fortis employs
more than 11,000 people and has annual inflows of around EUR 16 billion.
Fortis's assets include a 75% stake in AG Insurance; 100% of Fortis Insurance
International; a 45% stake in Royal Park Investments; and other financial assets
and liabilities of various financing vehicles.
Press Contacts:
Brussels: +32 (0)2 565 22 66
Investor Relations:
Brussels: +32 (0)2 565 53 78 Utrecht: +31 (0)30 226 65 66
PR 2010 - 014
Press release
[HUG#1410228]
Pdf version press release: http://hugin.info/134212/R/1410228/362778.pdf
Unternehmensinformation / Kurzprofil:
Datum: 29.04.2010 - 17:47 Uhr
Sprache: Deutsch
News-ID 19996
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