Pour le secteur de l'assurance, 1997 s'est apparent e une "annus mirabilis"

Article Abstract:

Fortis was the leading insurer in Belgium with a 22.92% market share in 1997, followed by AXA-Royale Belge and Smap with 16.79% and 12.62% respectively, according to UPEA, the Belgian union of insurers. The largest five operators control more than 50% of the market. Their domination is stronger in group life insurance (80%) than in fire accident and miscellaneous accident (50%). Thanks to the individual branch, which collected BFr 153.68bn in 1997, up 31.86%, life insurance was up 18.13% to BFr 249.44bn that year, mainly thanks to operations related to the investment funds. On the other hand, group life insurance limited its progression to 1.2% compared to 1996. The non-life business reported a 0.13% increase to BFr 263.11bn in 1997. Due to lower premiums as a result of the harder competition and a slow down in car fleet, the motor insurance segment reported a 0.87% decrease, UPEA reports. Thanks to the huge gains made that year, the Belgian insurance sector posted a record BFr 66bn profit in 1997, worth 11.3% of the total premiums, compared to BFr 37.6bn in 1996.

Comment:

Belgium: Fortis leads insurance sector w/ 22.92% market share in 1997, followed by AXA-Royale Belge w/ 16.79% and Smap w/ 12.62%

Market share

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L'ancrage belge du secteur de l'assurance/

Article Abstract:

In 1996, ten insurance groups cornered 62.37% of the total premiums collected in Belgium, compared to 59.78% in 1995, according to the Belgian insurance control office (OCA). With a pretax profit worth 16.21% of the equity, profits made through the financial markets were a big contribution to the BFr 45bn that the insurance sector posted in 1996. Surprisingly, the miscellaneous risk branch reported a 4% growth in turnover to BFr 221.87bn in 1996 with health insurance reporting a 12% increase, which shows that non-life insurance may not be close to saturation. In life insurance, the turnover reached BFr 211.67bn, up 16% with group contracts going up 24% when individual insurance rose 11%. Globally, the insurance sector posted a turnover of BFr 543.34bn in 1996, up 8% over 1995, OCA reports. 242 companies operate in Belgium including 153 Belgian companies and 89 companies from other countries.

Comment:

Belgium: Ten insurance groups cornered 62.37% of total premiums collected in Belgium in 1996, as compared to 59.78% in 1995

Market information - general

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La Royale Belge et Axa Belgium ne feront plus qu'un/

Article Abstract:

As of 1 January 2000, Axa Belgium and Royale Belge will constitute a single entity, the two insurers announced as part of their meeting of the Board on 6 July 1998. Patrick de Courcel, who will conduct the committee in charge of setting up the merger, has just taken the leadership at both Royale Belge and Axa Belgium. Jean-Pierre G rard, the former boss of Royale Belge, resigned that same day together with two members of the insurer's management committee, Defrancq and Meydfroidt. In addition to Axa Belgium, an acquisition of some BFr 34.1bn, Royale Belge will take over Axa's insurance activity in Luxembourg (about BFr 2.45bn) and 43.1% of UAP Nieuwrotterdam (Fl 411.2mn). Royale Belge and Axa Belgium are part of the French insurance giant Axa.

Comment:

Will merge w/ Royale Belge, effective on January 1, 2000

Acquisitions & mergers, Group Royale Belge, AXA Belgium N.V./S.A.

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