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Ageas: Ageas, Deminor, Stichting FortisEffect, SICAF and VEB reach agreement aiming at settling all Fortis civil legacies

Today Ageas and the claimants' organisations, Deminor, Stichting FortisEffect,
Stichting Investor Claims Against Fortis (SICAF), and Dutch shareholder
Association VEB ("The Parties") announce a settlement proposal with respect
to all civil proceedings related to the former Fortis group for the events in
2007 and 2008 ("the Events"
). The Parties will request the Amsterdam Court of Appeal to declare the
settlement binding for all eligible Fortis shareholders in accordance with
the Dutch Act on Collective Settlement of Mass Claims (Wet Collectieve
Afwikkeling Massaschade, "WCAM"). This agreement will help all parties draw a
line under lengthy and complex legal proceedings marked by uncertainties in
terms of timing and outcome. For Ageas specifically, the agreement will allow
the company to regain its full strategic and financial flexibility and to
focus entirely on its Insurance business. To inform the general public about
the settlement a dedicated website has been set up.

Following the Events in 2007 and 2008 related to Fortis, Ageas has been
involved in a series of legal proceedings in Belgium and the Netherlands in
which it faces a number of more or less similar claims for damages.

Today, Ageas agreed to pay a global amount of EUR 1,204 million to Eligible
Shareholders covered by the settlement without admitting any wrongdoing. An
"Eligible Shareholder" is any person who held Fortis Units2at any time
between 28 February 2007 Close of Business and 14 October 2008 Close of

Bart De Smet, CEO Ageas
: "I'm very pleased that together with claimant representatives we have been
to agree a fair and reasonable settlement for those impacted by the Fortis
events of 2007 and 2008. We hope that those who are eligible under this
settlement will be satisfied with the outcome and that it will help Ageas,
its stakeholders and all those involved to draw a line under what has been an
uncertain and difficult period for everyone. We strived to fairly allocate
the total settlement amount across all different types of Eligible

For Ageas specifically, this is an important step forward, as the settlement
brings clarity around this long outstanding issue. As we look to the future,
this agreement will allow the company to regain its full strategic and
financial flexibility and to focus entirely on its Insurance business. For
current and future investors the settlement leads to a much more transparent
valuation of Ageas."

1 The events relate to among others acquisition of parts of ABN AMRO and
capital increase in September/October 2007, announcement of the solvency
plan in June 2008, divestment of the banking activities and Dutch insurance
activities in September/October 2008
2 Before the reverse stock split of 2012

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%).


As mentioned above, more detailed information will become available at the
moment of the filing of the settlement proposal. Final compensation amounts
per share will only be available as soon as the claims submission period has
ended (1 year after the notification of the binding declaration of the
Amsterdam Court of Appeal) and when the final amount of eligible shares per
category is known and final.

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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