Ageas today announces the appointment of Filip Coremans as member of the Group Executive Committee and as Chief Risk Officer with effect from 1 July 2014. Filip Coremans will replace Kurt De Schepper, who has confirmed his intention to retire later this year.
Filip Coremans (49) is a Belgian national and actuary with extensive experience in Insurance. Filip joined Ageas in 2002 and held various roles within the Group's Asian activities both in operations in India and Malaysia and most recently in the regional office in Hong Kong. Filip is currently CFO/CRO for the Asian Region and he holds various board positions within Ageas companies in the region.
After completion of the usual regulatory formalities, the Board took the decision to appoint Filip Coremans with effect of July 1. In line with the current CRO-responsibilities, Filip Coremans will be responsible for Compliance, Legal, Risk, Human Resources, IT and Office Support. He will be remunerated on a similar level to his predecessor and in line with the corporate remuneration policy approved by the shareholders' meeting of 2012.
Kurt De Schepper, current Chief Risk Officer, will retire as of July 1. Ageas may however call upon him for some specific tasks. Kurt was appointed CRO of Ageas in September 2009 and has occupied a number of different roles within the Group throughout his outstanding career.
As a result of these management changes the Group Executive Committee will as of 1 July 2014 be comprised of Bart De Smet (CEO), Christophe Boizard (CFO) and Filip Coremans (CRO).
The Group Management Committee comprises the three members of the Executive Committee, Barry Smith, COO, the Group Risk Officer Emmanuel Van Grimbergen and the heads of the four business segments: Antonio Cano, CEO AG Insurance; Andy Watson, CEO Ageas United Kingdom; Steven Braekeveldt, CEO Continental Europe and Gary Grist CEO Asia.
Commenting on the changes to the Group Management, Bart De Smet, CEO of Ageas, said: "I am delighted that Filip has accepted this important new role: next to his professional qualities and achievements, he brings to the executive committee important operational knowledge of our businesses, in particular its Asian activities. I would like to thank Kurt for his contribution during his long and distinguished career with the Group, in particular during the last 5 years as CRO of Ageas."
Ageas is an international insurance group with a heritage spanning 190 years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. These are grouped around four segments: Belgium, United Kingdom, Continental Europe and Asia and served through a combination of wholly owned subsidiaries and partnerships with strong financial institutions and key distributors around the world. Ageas operates successful partnerships in Belgium, the UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and the UK. Ageas is the market leader in Belgium for individual life and employee benefits, as well as a leading non-life player through AG Insurance. In the UK, Ageas is the second largest Motor insurer and has a strong presence in the growing over 50's market. Ageas employs more than 13,000 people in the consolidated entities and over 30,000 in the non-consolidated partnerships, and has annual inflows of more than EUR 23 billion.
