As of 1 November 2020, Filip Coremans, currently Chief Development Officer (CDO), will be appointed as Managing Director Asia (MD Asia) and Antonio Cano, currently Chief Operating Officer (COO), as Managing Director Europe (MD Europe). These functions reflect the growing importance of a dedicated regional focus for the Group and respond to the different challenges and opportunities between the regions. The responsibilities of Christophe Boizard as Chief Financial Officer and Emmanuel Van Grimbergen as Chief Risk Officer within the Executive Committee (Exco) remain unchanged.
Role of Managing Director Asia
Today, Ageas is present in 9 Asian countries and the region enjoys fast growing inflows. Given the size of the future opportunities and the breadth of the Group’s coverage in Asia, its importance will most probably continue to grow, resulting in a new economic balance between the Group’s Asian and European activities. In this context, the appointment of Filip Coremans as MD Asia will provide additional Exco-level management support in Asia. The function of MD Asia also includes transversal responsibilities for Business and Technology Development, strengthening the focus on smart synergies within the Ageas Group and stimulating more knowledge sharing across the Group and with its partners.
Role of Managing Director Europe
Europe remains core to Ageas with 3 important home markets, Belgium, UK, and Portugal, and steadily growing inflows with different challenges in different markets. These challenges require dedicated management attention, a role that will be taken up by Antonio Cano as Ageas’s MD Europe. As in Asia, ensuring the Group stays close to the business and responds to the growing importance of a local approach and the evolving situation in all 5 countries (UK, Belgium, Portugal, Turkey and France), will be key. The function of MD Europe also includes the transversal responsibilities for Reinsurance and Real Estate.
Commenting on the new appointments, CEO Hans De Cuyper said:
“The appointment of two regional Managing Directors allows us to strengthen our business oversight, engage our partners and stay close to the local business, elevating the importance of our core business to the level of the Executive Committee. The organisational changes will also allow us to further build the equity story behind our business model, to create further momentum from the strong synergies within the Group, whilst positioning other business lines such as Real Estate and Reinsurance within a geographic structure that allows them to thrive. With this reorganisation, our Executive Committee is fully equipped to take up the future challenges and opportunities that lie ahead of us.”
An overview of the members of the Executive Committee can be found on our website.
Ageas is a listed international insurance Group with a heritage spanning almost 200 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, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 45,000 people and reported annual inflows of over EUR 36 billion in 2019 (all figures at 100%).