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Ageas is a Belgian multinational insurance company co-headquartered in Brussels and is recognized as the largest insurer in Belgium.
Answer: True
Explanation: Ageas is indeed a Belgian multinational insurance company co-headquartered in Brussels and is recognized as the largest insurer in Belgium, operating in 13 countries globally.
Ageas SA/NV is classified as a Société anonyme, a type of public limited company primarily found in the Netherlands.
Answer: False
Explanation: Ageas SA/NV is classified as a Naamloze vennootschap, which is a type of public limited company in Belgium and the Netherlands, similar to a Société anonyme, but the latter is not primarily found in the Netherlands.
Ageas is traded on the London Stock Exchange and is a component of the FTSE 100 index.
Answer: False
Explanation: Ageas is traded on Euronext Brussels under the ticker symbol AGS and is a component of the BEL 20 index, not the London Stock Exchange or FTSE 100.
The primary industry in which Ageas operates is asset management, with a secondary focus on insurance products.
Answer: False
Explanation: Ageas primarily operates within the financial services industry, with a specific focus on providing insurance products, not asset management as its primary focus.
Bart De Smet is the current CEO of Ageas, while Hans De Cuyper serves as the Chairman.
Answer: False
Explanation: Bart De Smet is the Chairman of Ageas, and Hans De Cuyper is the Chief Executive Officer (CEO), which is the reverse of the statement.
Ageas's main product offering is various types of insurance policies for individuals and businesses.
Answer: True
Explanation: Ageas's primary product offering is indeed various types of insurance policies for both individuals and businesses.
In 2023, Ageas reported a net income of 17.1 billion euros and a revenue of 1.17 billion euros.
Answer: False
Explanation: In 2023, Ageas reported a revenue of 17.1 billion euros and a net income of 1.17 billion euros, which is the reverse of the statement.
Ageas had a global workforce of 50,000 employees in 2023.
Answer: True
Explanation: Ageas did have a global workforce of 50,000 employees in 2023.
Ageas operates exclusively in Belgium and the United Kingdom, making it a regional insurer.
Answer: False
Explanation: Ageas operates across 13 countries worldwide, demonstrating a broad international presence, not exclusively in Belgium and the United Kingdom.
What is Ageas primarily recognized as in Belgium?
Answer: Belgium's largest insurer
Explanation: Ageas is recognized as Belgium's largest insurer.
What type of company is Ageas SA/NV classified as in Belgium and the Netherlands?
Answer: Naamloze vennootschap
Explanation: Ageas SA/NV is classified as a Naamloze vennootschap in Belgium and the Netherlands.
On which stock exchange is Ageas traded, and what index is it a component of?
Answer: Euronext Brussels, BEL 20
Explanation: Ageas is traded on Euronext Brussels and is a component of the BEL 20 index.
Who is the current Chairman of Ageas?
Answer: Bart De Smet
Explanation: Bart De Smet is the Chairman of Ageas.
What was Ageas's reported revenue in 2023?
Answer: 17.1 billion euros
Explanation: In 2023, Ageas reported a revenue of 17.1 billion euros.
How many employees did Ageas have in 2023?
Answer: 50,000
Explanation: Ageas had a total of 50,000 employees in 2023.
What is the ticker symbol for Ageas on Euronext Brussels?
Answer: AGS
Explanation: Ageas is traded on Euronext Brussels under the ticker symbol AGS.
Fortis Holding was the predecessor company of Ageas, comprising the remaining insurance activities after the larger financial services group Fortis was broken up and sold.
Answer: True
Explanation: Fortis Holding was indeed the predecessor of Ageas, representing the insurance activities that remained after the broader Fortis financial services group was dismantled and sold.
Ageas was founded under its current name in 1990, tracing its roots back to Assurances Générales in 1824.
Answer: False
Explanation: Ageas was founded under its current name in 2010, not 1990, although its roots do trace back to Assurances Générales in 1824.
The renaming of Fortis Holding to Ageas in April 2010 was a direct result of its successful expansion into new markets.
Answer: False
Explanation: The renaming of Fortis Holding to Ageas in April 2010 was a direct consequence of the breakup and sale of the financial services group Fortis during the 2008 financial crisis, not successful expansion.
Ageas's historical roots can be traced back to the foundation of the Belgian life insurer Assurances Générales in 1824.
Answer: True
Explanation: Ageas's historical lineage indeed extends to the establishment of Assurances Générales, a Belgian life insurer founded in 1824.
Fortis was formed in 1990 through the merger of the Dutch company AMEV/VSB and the Belgian company AG.
Answer: True
Explanation: Fortis was formed in 1990 when the Belgian company AG took over the Netherlands-based firm AMEV/VSB.
AMEV was an insurer founded in Utrecht in 1950, primarily focused on property insurance.
Answer: False
Explanation: AMEV was founded in Utrecht in 1920, not 1950. The flashcard does not specify its primary focus was property insurance.
After its formation, Fortis expanded its business activities to include private and investment banking, as well as asset management, establishing international subsidiaries.
Answer: True
Explanation: After its formation, Fortis did expand its activities to include private and investment banking, as well as asset management, establishing subsidiaries internationally.
By 2007, Fortis had become the 10th largest business globally by revenue.
Answer: False
Explanation: By 2007, Fortis had become the 20th largest business in the world when measured by revenue, not the 10th.
In 2007, Fortis solely acquired ABN AMRO, a Dutch bank, without any partners.
Answer: False
Explanation: In 2007, Fortis agreed to jointly purchase ABN AMRO with Banco Santander and Royal Bank of Scotland Group, not solely.
The 2008 financial crisis had no significant impact on Fortis's acquisition plans or financial stability.
Answer: False
Explanation: The 2008 financial crisis severely exacerbated problems with financing Fortis's part of the ABN AMRO acquisition, leading to fears of insolvency for the company.
Fortis received an 11.2 billion euro bailout from the Benelux governments during the 2008 financial crisis.
Answer: True
Explanation: Fortis did receive an 11.2 billion euro bailout from the Benelux governments during the 2008 financial crisis.
After the 2008 crisis, Fortis's retail banking operations in Belgium were nationalized by the Dutch government.
Answer: False
Explanation: Following the crisis, Fortis's retail banking operations in Belgium were sold to BNP Paribas, while its insurance and banking subsidiaries in the Netherlands were nationalized by the Dutch government.
Shareholders of Fortis Holding approved the name change to Ageas SA/NV in April 2010.
Answer: True
Explanation: The shareholders of Fortis Holding formally agreed to change the company's name to Ageas SA/NV in April 2010.
A 1.3 billion euro collective settlement for former Fortis shareholders was approved by the Amsterdam Court of Appeal in 2018.
Answer: True
Explanation: On July 13, 2018, the Amsterdam Court of Appeal approved a 1.3 billion euro collective settlement of claims asserted on behalf of shareholders of the former Fortis.
What was the predecessor company of Ageas?
Answer: Fortis Holding
Explanation: The predecessor of Ageas was Fortis Holding.
When was Ageas founded under its current name?
Answer: 2010
Explanation: Ageas was founded under its current name in 2010.
What significant event led to the renaming of Fortis Holding to Ageas in April 2010?
Answer: The breakup and sale of the financial services group Fortis during the 2008 financial crisis
Explanation: The renaming of Fortis Holding to Ageas in April 2010 was a direct consequence of the breakup and sale of the financial services group Fortis during the 2008 financial crisis.
What was the original name of the Belgian life insurer founded in 1824, which is now known as AG Insurance?
Answer: Assurances Générales
Explanation: The original name of the Belgian life insurer founded in 1824, now known as AG Insurance, was Assurances Générales.
How was Fortis formed in 1990?
Answer: By the merger of the Belgian company AG and the Netherlands-based firm AMEV/VSB.
Explanation: Fortis was formed in 1990 when the Belgian company AG took over the Netherlands-based firm AMEV/VSB.
When was AMEV originally founded?
Answer: 1920
Explanation: AMEV was originally founded in Utrecht in 1920.
What was Fortis's global ranking by revenue in 2007?
Answer: 20th largest
Explanation: By 2007, Fortis had become the 20th largest business in the world when measured by revenue.
Which partners joined Fortis in the joint purchase of ABN AMRO in 2007?
Answer: Banco Santander and Royal Bank of Scotland Group
Explanation: In 2007, Fortis agreed to jointly purchase ABN AMRO with Banco Santander and Royal Bank of Scotland Group.
What was the amount of the bailout Fortis received from the Benelux governments during the 2008 financial crisis?
Answer: 11.2 billion euros
Explanation: Fortis received an 11.2 billion euro bailout from the Benelux governments during the 2008 financial crisis.
What happened to Fortis's retail banking operations in Belgium after the 2008 crisis?
Answer: They were sold to BNP Paribas.
Explanation: Following the crisis, Fortis's retail banking operations in Belgium were sold to BNP Paribas.
When did the Amsterdam Court of Appeal approve the 1.3 billion euro collective settlement for former Fortis shareholders?
Answer: July 2018
Explanation: The Amsterdam Court of Appeal approved the 1.3 billion euro collective settlement for former Fortis shareholders on July 13, 2018.
What was the primary focus of Fortis's expansion activities after its formation in 1990?
Answer: Private and investment banking, and asset management
Explanation: After its formation, Fortis expanded its activities to include private and investment banking, as well as asset management.
In April 2024, BNP Paribas acquired a 15% stake in Ageas from Fosun International for 730 million euros.
Answer: False
Explanation: In April 2024, BNP Paribas acquired Fosun International's entire 9% stake in Ageas, not 15%, for 730 million euros.
By February 2025, BNP Paribas had increased its ownership in Ageas to 15.07%.
Answer: True
Explanation: By February 2025, BNP Paribas did increase its stake in Ageas, raising its ownership to 15.07%.
Ageas announced a deal to purchase the British insurer Esure from Bain Capital for 1.3 billion euros in April 2025.
Answer: False
Explanation: Ageas announced a deal to purchase Esure from Bain Capital in April 2025 for 1.3 billion pounds, or 1.510 billion euros, not 1.3 billion euros.
In September 2012, Ageas acquired Aviva's UK insurance operations, adding a million policyholders.
Answer: False
Explanation: In September 2012, Ageas acquired Groupama's UK insurance operations, not Aviva's, which added a million policyholders.
Ageas's acquisition of AXA's insurance operations in Portugal in 2016 made it the largest insurer by premiums in the country.
Answer: False
Explanation: Ageas's acquisition of AXA's insurance operations in Portugal in 2016 made it the second-largest insurer by premiums in the country, not the largest.
Ageas established a 20-year partnership with Saga in December 2024 to distribute personal motor and household products.
Answer: True
Explanation: Ageas did establish a 20-year partnership with Saga in December 2024 to distribute personal motor and household products.
As part of the Ageas-Saga partnership deal, Saga will acquire Ageas's insurance underwriting business.
Answer: False
Explanation: As part of the Ageas-Saga partnership deal, Ageas will acquire Acromas Insurance Company, which is Saga's insurance underwriting business, not the other way around.
What percentage stake in Ageas did BNP Paribas acquire from Fosun International in April 2024?
Answer: 9%
Explanation: In April 2024, BNP Paribas acquired Fosun International's entire 9% stake in Ageas.
By February 2025, what was BNP Paribas's ownership stake in Ageas?
Answer: 15.07%
Explanation: By February 2025, BNP Paribas increased its stake in Ageas to 15.07%.
What British insurer did Ageas announce to purchase from Bain Capital in April 2025?
Answer: Esure
Explanation: In April 2025, Ageas announced a deal to purchase the British insurer Esure from Bain Capital.
What was the effect of Ageas acquiring Groupama's UK insurance operations in September 2012?
Answer: It significantly boosted its presence in the automobile and home insurance sectors by adding a million policyholders.
Explanation: Ageas's acquisition of Groupama's UK insurance operations in September 2012 significantly boosted its presence in the automobile and home insurance sectors by adding a million policyholders.
What was Ageas's market share as a Non-Life insurer in Portugal after acquiring AXA's operations in 2016?
Answer: 14%
Explanation: After acquiring AXA's insurance operations in Portugal in 2016, Ageas became the third Non-Life insurer with a 14% market share.
What was the duration of the partnership Ageas established with Saga in December 2024?
Answer: 20 years
Explanation: Ageas agreed to a 20-year partnership with Saga in December 2024.
As part of the 20-year partnership deal with Saga, what did Ageas acquire?
Answer: Acromas Insurance Company, Saga's insurance underwriting business
Explanation: As part of the 20-year partnership deal, Ageas acquired Acromas Insurance Company, which is Saga's insurance underwriting business.
What was the value of Ageas's acquisition of Esure from Bain Capital in April 2025 in euros?
Answer: 1.510 billion euros
Explanation: Ageas announced the acquisition of Esure from Bain Capital in April 2025 for a value of 1.510 billion euros.
What was the value of the 9% stake in Ageas acquired by BNP Paribas in April 2024?
Answer: 730 million euros
Explanation: In April 2024, BNP Paribas acquired Fosun International's entire 9% stake in Ageas, a transaction valued at 730 million euros.
What was Ageas's market share as a Life insurer in Portugal after acquiring AXA's operations in 2016?
Answer: 19%
Explanation: After acquiring AXA's insurance operations in Portugal in 2016, Ageas became the third-largest Life insurer with a 19% market share.
Ageas owns 75% plus one share of AG Insurance, with the remainder held by BNP Paribas.
Answer: True
Explanation: Ageas owns 75% plus one share of AG Insurance, with the remaining portion held by Fortis Bank N.V./S.A., which was acquired by BNP Paribas in 2009.
In Belgium, Ageas's products are sold exclusively through branches of BNP Paribas Fortis.
Answer: False
Explanation: In Belgium, Ageas's products are sold through a network of independent agents, brokers, and financial planners, as well as through branches of BNP Paribas Fortis and its subsidiary.
Ageas Insurance International is the United Kingdom's third-largest provider of private vehicle cover.
Answer: True
Explanation: Ageas Insurance International is indeed the United Kingdom's third-largest provider of private vehicle cover.
Kwik Fit Insurance is a notable UK subsidiary of Ageas Insurance International.
Answer: True
Explanation: Kwik Fit Insurance is a notable UK subsidiary of Ageas Insurance International.
Ageas Insurance International operates directly in Italy and Portugal, and holds partnerships in France and Hong Kong.
Answer: False
Explanation: Ageas Insurance International operates directly in France and Hong Kong, and holds partnerships or joint ventures in Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India, and Thailand.
Royal Park Investments manages a portfolio of 'toxic' structured credit assets, and Ageas holds a 45% stake in it.
Answer: True
Explanation: Royal Park Investments manages a portfolio of 'toxic' structured credit assets, and Ageas holds a 45% stake in this entity.
RIAS was established in 1992 by David Holden as the Retirement Insurance Advisory Service.
Answer: True
Explanation: RIAS was indeed established in 1992 by David Holden as the Retirement Insurance Advisory Service.
Ageas Retail Limited, which operates RIAS, is regulated by the Prudential Regulation Authority (PRA).
Answer: False
Explanation: Ageas Retail Limited, which operates RIAS, is authorized and regulated by the Financial Conduct Authority (FCA), not the Prudential Regulation Authority (PRA).
RIAS's branding changed from Fortis to Ageas UK to reflect the company's new status as a standalone global insurance group.
Answer: True
Explanation: RIAS's branding changed from Fortis to Ageas UK to reflect the company's new status as a standalone global insurance group.
The Ageas UK head office is located in London, with additional branches in other cities.
Answer: False
Explanation: The Ageas UK head office is situated in Eastleigh, with additional branches located in Bournemouth, Gloucester, London, and Manchester.
Ageas holds a 100% stake in AG Real Estate, which is a subsidiary of AG Insurance.
Answer: True
Explanation: Ageas holds a 100% stake in AG Real Estate, which is a subsidiary of AG Insurance.
In Turkey, Ageas holds a 40% ownership in Aksigorta and a 36% ownership in AgeSA SA.
Answer: False
Explanation: In Turkey, Ageas holds a 40% ownership in AgeSA SA and a 36% ownership in Aksigorta, which is the reverse of the statement.
Ageas wholly owns Ageas Asia Services Ltd in Hong Kong and has a 20% stake in WeTherapy Ltd.
Answer: True
Explanation: Ageas wholly owns Ageas Asia Services Ltd (100%) in Hong Kong and also holds a 20% stake in WeTherapy Ltd.
Ageas holds a 31% stake in Maybank Ageas Holdings Berhad, which operates in Malaysia and Singapore.
Answer: True
Explanation: Ageas holds a 31% stake in Maybank Ageas Holdings Berhad, which operates in both Malaysia and Singapore.
In the Philippines, Ageas has a 50% stake in East West Ageas Life Insurance Corp.
Answer: False
Explanation: In the Philippines, Ageas holds a controlling interest of 50% plus one share in East West Ageas Life Insurance Corp, not just 50%.
Ageas holds a 32% stake in MB Ageas Life Insurance Co Ltd in Vietnam.
Answer: True
Explanation: Ageas holds a 32% stake in MB Ageas Life Insurance Co Ltd in Vietnam.
In Thailand, Ageas holds a 15% stake in Muang Thai Group Holding Co Ltd.
Answer: False
Explanation: In Thailand, Ageas holds an 8% stake in Muang Thai Group Holding Co Ltd, not 15%.
Ageas holds a 25% stake in Taiping Asset Management Co Ltd in China.
Answer: False
Explanation: Ageas holds a 20% stake in Taiping Asset Management Co Ltd in China, not 25%.
In India, Ageas holds a 74% stake in Ageas Federal Life Insurance Co Ltd and a 40% stake in Royal Sundaram General Insurance.
Answer: True
Explanation: In India, Ageas holds a 74% stake in Ageas Federal Life Insurance Co Ltd and a 40% stake in Royal Sundaram General Insurance.
Royal Park Investments manages a portfolio of 'toxic' structured credit assets, and Ageas holds a 50.67% stake in this entity.
Answer: False
Explanation: Royal Park Investments manages a portfolio of 'toxic' structured credit assets, and Ageas holds a 45% stake in this entity, not 50.67%.
What is Ageas's ownership stake in AG Insurance?
Answer: 75% plus one share
Explanation: Ageas owns 75% plus one share of AG Insurance.
Through which channels are Ageas's products sold in Belgium?
Answer: Independent agents, brokers, financial planners, and branches of BNP Paribas Fortis
Explanation: In Belgium, Ageas's products are sold through a network of independent agents, brokers, and financial planners, as well as through branches of BNP Paribas Fortis and its subsidiary.
What is Ageas Insurance International's market position for private vehicle cover in the United Kingdom?
Answer: Third-largest provider
Explanation: Ageas Insurance International is the United Kingdom's third-largest provider of private vehicle cover.
Which of the following is a UK subsidiary of Ageas Insurance International?
Answer: Kwik Fit Insurance
Explanation: Kwik Fit Insurance is a notable UK subsidiary of Ageas Insurance International.
In which two countries does Ageas Insurance International operate directly?
Answer: France and Hong Kong
Explanation: Ageas Insurance International operates directly in France and Hong Kong.
What kind of assets does Royal Park Investments manage?
Answer: 'Toxic' structured credit assets
Explanation: Royal Park Investments is responsible for managing a portfolio of 'toxic' structured credit assets.
Who founded RIAS and in what year?
Answer: David Holden in 1992
Explanation: RIAS was established in 1992 by David Holden.
Which regulatory body oversees Ageas Retail Limited, which operates RIAS?
Answer: Financial Conduct Authority (FCA)
Explanation: Ageas Retail Limited, the entity that operates RIAS, is authorized and regulated by the Financial Conduct Authority (FCA).
Where is the Ageas UK head office located?
Answer: Eastleigh
Explanation: The Ageas UK head office is situated in Eastleigh.
What percentage stake does Ageas hold in Royal Park Investments, according to the specific question about RPI?
Answer: 45%
Explanation: Ageas holds a 45% stake in Royal Park Investments.
What are Ageas's ownership percentages in AgeSA SA and Aksigorta in Turkey, respectively?
Answer: AgeSA SA (40%), Aksigorta (36%)
Explanation: Ageas holds a 40% ownership in AgeSA SA and a 36% ownership in Aksigorta in Turkey.
What are Ageas's holdings in Hong Kong?
Answer: 100% in Ageas Asia Services Ltd and 20% in WeTherapy Ltd
Explanation: In Hong Kong, Ageas wholly owns Ageas Asia Services Ltd (100%) and also holds a 20% stake in WeTherapy Ltd.
What percentage stake does Ageas hold in Maybank Ageas Holdings Berhad, operating in Malaysia and Singapore?
Answer: 31%
Explanation: Ageas holds a 31% stake in Maybank Ageas Holdings Berhad, which operates in both Malaysia and Singapore.
What is Ageas's holding in East West Ageas Life Insurance Corp in the Philippines?
Answer: 50% plus one share
Explanation: In the Philippines, Ageas holds a controlling interest of 50% plus one share in East West Ageas Life Insurance Corp.
What percentage stake does Ageas hold in MB Ageas Life Insurance Co Ltd in Vietnam?
Answer: 32%
Explanation: Ageas holds a 32% stake in MB Ageas Life Insurance Co Ltd in Vietnam.
Which of the following is NOT one of Ageas's holdings in Thailand?
Answer: Muang Thai Insurance Public Co Ltd (31%)
Explanation: Ageas holds a 15% stake in Muang Thai Insurance Public Co Ltd, not 31%.
What percentage stake does Ageas hold in Taiping Life Insurance Co Ltd in China?
Answer: 25%
Explanation: Ageas holds a 25% stake in Taiping Life Insurance Co Ltd in China.
In India, what are Ageas's ownership stakes in Ageas Federal Life Insurance Co Ltd and Royal Sundaram General Insurance, respectively?
Answer: Ageas Federal (74%), Royal Sundaram (40%)
Explanation: In India, Ageas holds a 74% stake in Ageas Federal Life Insurance Co Ltd and a 40% stake in Royal Sundaram General Insurance.
What was the original purpose of RIAS when it was established in 1992?
Answer: To offer insurance products from a panel of different insurers.
Explanation: RIAS was established in 1992 to offer insurance products from a panel of different insurers.
Which entity holds the remaining portion of AG Insurance not owned by Ageas?
Answer: Fortis Bank N.V./S.A. (acquired by BNP Paribas)
Explanation: The remaining portion of AG Insurance not owned by Ageas is held by Fortis Bank N.V./S.A., which was acquired by BNP Paribas in 2009.
Which of Ageas's subsidiaries is a 100% subsidiary of AG Insurance?
Answer: AG Real Estate
Explanation: AG Real Estate is a 100% subsidiary of AG Insurance.