Ageas sells its life insurance business in France

Ageas has received approval from the relevant authorities to sell its life insurance, savings and pension activities in France. The transaction includes Ageas France, Ageas Retraite, Ageas Patrimoine and Sivaconline.

Carac, a French mutual savings, retirement and provident insurer, is the buyer of the Belgian group's French subsidiaries.

The transaction is expected to have a positive impact on the Group's solvency ratio and increase its liquidity by around 185 million EUR (197 million USD).