Today the Amsterdam Court of Appeal held a public hearing as part of the procedure to declare the Fortis settlement binding. The Court stated it will announce its decision on Friday 13 July 2018.
On 12 December 2017 Ageas and the claimant organisations reached an amended settlement agreement that takes into consideration the main concerns of the Amsterdam Court of Appeal with regard to the initial agreement of 14 March 2016. The parties submitted the amended settlement proposal to the Court with the request to declare it binding for all Eligible Shareholders in accordance with the Dutch Act on Collective Settlement of Mass Claims (Wet Collectieve Afwikkeling Massaschade, "WCAM").
After the 16 March 2018 hearing that focussed on the compensation for the claimant organisations, and as part of the ongoing WCAM procedure, the Court, at a public hearing held today, addressed the amended settlement agreement itself.
At today's hearing the Court stated it will announce its decision regarding the request to declare the settlement binding on Friday 13 July 2018.
Ageas will inform the market as soon as the decision has been made.
For all relevant information about the settlement, please refer to the dedicated website FORsettlement.com. Any questions regarding this settlement may also be sent to: info@forsettlement.com.
Ageas 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, 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 50,000 people and reported annual inflows close to EUR 34 billion in 2017 (all figures at 100%).
