Fosun's asset sale plans put pressure on Ageas shares

Shares of Belgian insurance holding company Ageas fell over 4% as its largest shareholder Fosun announced sweeping asset sale plans on Tuesday morning. Fosun, one of China's largest non-state conglomerates, plans to sell $11 billion of assets to strengthen its balance sheet and investor confidence, reports Bloomberg. 

With a 10 per cent stake, Fosun is the largest shareholder of Belgian insurance holding company Ageas. Fosun announced it wants to sell several non-strategic investments to improve its liquidity position. The news caused Ageas's share price to plunge 4 per cent on Tuesday. 

Ageas is the largest player in the Belgian insurance market and operates in several other European and Asian countries. How Ageas performs on the stock market is also important to Belgium's federal government, which holds a 6.3 per cent stake in the insurer through its Federal Holding and Investment Company (FPIM). 



© WANG Zhao / AFP

Get updates in your mailbox

By clicking "Subscribe" I confirm I have read and agree to the Privacy Policy.


Belga News Agency delivers dependable, rapid and high-quality information 24 hours a day, 7 days a week, from Belgium and abroad to all Belgian media. The information covers all sectors, from politics, economics and finance to social affairs, sports and culture, not to mention entertainment and lifestyle.

Every day, our journalists and press photographers produce hundreds of photos and news stories, dozens of online information items, plus audio and video bulletins, all in both national languages. Since the end of March 2022 English has been added as a language.

For public institutions, businesses and various organisations that need reliable information, Belga News Agency also offers a comprehensive range of corporate services to meet all their communication needs.


Arduinkaai 29 1000 Brussels