Regulated information - price sensitive: Update on negotiations amended Fortis settlement
(Thomson Reuters ONE) -
Ageas and the claimant organisations have been working intensively on an amended
settlement that would address the main concerns of the Amsterdam Court of Appeal
as expressed in its interim decision of 16 June 2017. No agreement has been
reached yet and therefore an extension of the filing period was requested to the
Court.
In order to reach such an amended settlement, Ageas has decided to make a final
additional effort of EUR 100 million.
Since the publication of the interim decision, Ageas and the claimant
organisations have intensively been discussing solutions for the Court's
concerns. However, no final agreement was reached within the timeframe proposed
by the Court. Hence, an extension was requested. In this context, all parties
have decided to diligently continue the discussions and to work towards a
reasonable and balanced solution for all stakeholders.
Ageas has decided to make a final additional effort of EUR 100 million, which
should allow to address the Court's main concerns, and to take into account the
previous commitments made.
Once a comprehensive agreement has been finalised and filed, Ageas will inform
the market.
Bart De Smet, CEO Ageas, commented: "For all our stakeholders and for the Group,
we remain committed to finding a reasonable and workable solution to the past.
Consequently, an extension of the filing period was requested and Ageas is
prepared to make an extra financial effort. I'm confident that all parties will
endeavour to work hard the coming weeks to reach an amended and balanced
agreement designed to respond to the main concerns of the Court."
Ageas is a listed international insurance Group with a heritage spanning 190
years. It offers Retail and Business customers Life and Non-Life products that
meet their specific needs, not just for today but also for tomorrow. Ageas, one
of the largest insurance companies in Europe, is mainly active in Europe and
Asia, which together make up the majority of the global insurance market.
Through a combination of wholly owned subsidiaries and long term partnerships
with strong financial institutions and key distributors, Ageas operates
successful insurance businesses in Belgium, the UK, Luxembourg, France, Italy,
Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia,
Singapore, and the Philippines. In most of the countries where it operates,
Ageas is among the market leaders. Ageas has more than 40,000 employees, and
inflows amounted to around EUR 32 billion (all figures at 100%) in 2016.
Pdf version press release:
http://hugin.info/134212/R/2142152/820548.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ageas via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.10.2017 - 20:45 Uhr
Sprache: Deutsch
News-ID 563866
Anzahl Zeichen: 3451
contact information:
Town:
Brussels
Kategorie:
Business News
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"Regulated information - price sensitive: Update on negotiations amended Fortis settlement"
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