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Ageas : Everything you need to know

Ageas: Everything you need to know
Founded: 1824
Employees: 40,000 (4,000 on the UK team)
Specialties: Personal and commercial lines insurance
UK headquarters:  Eastleigh, Hampshire

Award-winning international insurer, Ageas, was founded almost 200 years ago and is now one of Europe’s top 20 insurance companies. Ageas is the chosen insurer of millions of people throughout the world and provides assistance to motorists, households and businesses across the UK every day. According to the ABI General Insurance Company Rankings 2018, Ageas is the sixth-largest private car insurer and sixth-largest home insurer in the UK.

Ageas emphasises the experience of its customer base and, when making a claim, clients can speak to a human 24 hours a day, 365 days a year. The company has been widely recognised for its cover and its customer service and has won a Gold Standard Insurance Award every year for the last nine years.

The history of Ageas
Founded as AG Insurance in 1824, Ageas began its journey as a life insurer and quickly expanded its cover and products. In 1939, Ageas formed as Bishopgate in the UK and expanded its business through brokers, buying its first independent brand, Rias, in 1997. Through Rias, Ageas offered affordable car, home and travel insurance.

In 2000, Ageas bought Northern Star and became Fortis Insurance, strengthening its UK presence through broker distribution and high-profile brand partnerships. Fortis was renamed Ageas in 2010 and Ageas began offering its products directly to customers in 2018.

Corporate and social responsibility
When discussing the role of CSR, CRO of Ageas, Emmanuel Van Grimbergen, said: “We believe that a strong culture of corporate governance and ethical behaviour is fundamental to the way we do business.”

Ageas aims to actively engage with its employees to create an exceptional company culture and work environment and to enable all employees to achieve their personal ambitions. The organisation aims to create a home ground in every market in which it establishes itself, and believes that, as an international insurer, it has a duty of responsibility towards every stakeholder.

‘Responsible Entrepreneurship’ at Ageas is about creating sustainable solutions for the issues that arise for employees and local communities and about helping to create new opportunities for people to flourish within the organisation.

Community is at the heart of Ageas’s CSR achievements and Ageas employees are encouraged to get involved at the very centre of their local communities. Ageas has a long tradition of supporting charity and its charity partnership of 2018/19 was with Hospice UK, the national charity for hospice care. This partnership meant Ageas supported Hospice UK though fundraising and volunteering opportunities.

Ageas also support local education and offers work experience placements in its offices as well as visiting students, to help prepare them for the workplace and to offer them advice on careers available within the insurance sector.

Ageas’s Employee Forum representatives consult with the senior management team and give employees advice, guidance and support as required. Ageas supports open communication when it comes to company feedback and encourages employees to help create an open and honest environment.

Key values at Ageas

Core values which Ageas values in employees across every level of the organisation include:

  • Share – this occurs through learning together and sharing all experiences, knowledge and successes
  • Care – by showing respect for one another, Ageas believes a great company culture can be created
  • Dare – Ageas encourages everybody involved in the organisation to push boundaries and to not be afraid to take a chance wherever possible
  • Deliver – Ageas aims to deliver on its promises by staying focused on its key value propositions

Top news from Ageas

  • Ageas and Ardonagh broker deepen ties – Ardonagh’s URIS Group extended its long-term partnership with Ageas, signing a four-year contract worth £200 million, This partnership provides cover for a variety of specialist personal and commercial lines risks in an array of niche trade sectors.
  • Ageas UK enjoys higher half-year net profit – Ageas UK reported a 70% increase in net profit from £26.8 million in the first six months of 2018 to £45.4 million in the second half. “As we progress through the year, we remain focused on profitability,” said Ageas UK chief executive Andy Watson at the time.
  • Ageas to focus on Europe, Asia in three-year strategy – In September 2018, Ageas announced its intention to focus its development strategy on the Asian and European markets. The three-year strategic plan (named Connect21), detailed that this strategy will take into consideration a longer-term view on the future of insurance as impacted by technological innovation and evolving customer needs.

Ageas : In the news