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Ageas: Ageas announces additional support for the Fortis settlement

Today Ageas announces that it has reached an agreement with Mr. Laurent
Arnauts, the Brussels based attorney who launched a number of legal actions
related to the Fortis events of 2007 and 2008. Mr. Arnauts has confirmed, in
agreement with his clients, that he will join the global settlement that
Ageas reached on 14 March 2016 with Deminor, Stichting FortisEffect, SICAF
and VEB, in connection with all the civil proceedings related to the former
Fortis group.

Ageas welcomes the position of Mr. Arnauts as it increases the chances of a
successful outcome of the global settlement.

Mr. Arnauts' endorsement of the settlement does not impact the size of the
settlement. An amount of
EUR 1,204 million has been agreed on to compensate eligible shareholders. The
agreed upon compensation criteria are also unchanged and will apply equally
to the claimants represented by
Mr. Arnauts.

As also agreed with the other claimants' organisations participating in the
settlement, Ageas will compensate Mr. Arnauts for the expenses incurred by
his clients in the various proceedings he has already initiated in connection
with the 2007 and 2008 Fortis events. Mr Arnauts will suspend his pending
civil proceedings, as well as his involvement in the criminal case.

Ageas CEO Bart De Smet comments:
"We are pleased that in addition to the claimants' organisations, Mr. Arnauts
and his constituents have decided to support the settlement which
substantially improves the chance to come to full and final closure of these
long outstanding and painful disputes."

Laurent Arnauts:
This global settlement is a first in Europe in the aftermaths of the financial
crisis, and as such is worth appraisal. It dramatically changes the judicial
playground. I am very satisfied that by providing such support, my clients
will be in the best possible position to opt into the settlement if they wish
to do so. Many of them still holding Ageas shares, they may expect added
value from a clean reboot too."

For all relevant information about the settlement and the related proceedings
we refer to the dedicated Any questions regarding
this settlement should be sent

is a listed international insurance Group with a heritage spanning 190 years.
It offers Retail and Business customers Life and Non-Life insurance products
designed to suit their specific needs, today and tomorrow. As one of Europe's
larger insurance companies, Ageas concentrates its activities in Europe and
Asia, which together make up the major part of the global insurance market.
It operates successful insurance businesses in Belgium, the UK, Luxembourg,
France, Italy, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam
and the Philippines through a combination of wholly owned subsidiaries and
long term partnerships with strong financial institutions and key
Ageas ranks among the market leaders in the countries in which it operates. It
represents a staff force of over 40,000 people and reported annual inflows
close to EUR 30 billion in 2015 (all figures at 100%).

Pdf version of the press release


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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


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