Many more investors have signed up for the so-called Fortis settlement than expected. A total of 290,000 former shareholders indicated that they wanted compensation because they had been misled in the run-up to the collapse of Fortis in 2008. This is reported by Ageas, the heir of the former financial group Fortis.

According to the settlement with investment clubs reached last year, the Belgian insurer has made 1.3 billion euros available to compensate those who were affected. Ageas initially took into account 175,000 to 200,000 claims.

How much an individual victim receives for the loss on his Fortis investment depends on a number of factors. Due to the large influx of applications, dilution, and therefore a lower reimbursement, is possible according to Ageas. Anyone who has submitted a file before 31 December 2018 is, in any case, guaranteed 70 percent of the reimbursement.

Fortis took over the Dutch parts of ABN AMRO in 2007. The capital position of the Belgian-Dutch banking and insurance group was weakened to such an extent that the company collapsed in the credit crisis that broke out shortly afterwards. The Dutch units were nationalized at the end of 2008 and the Belgian banking activities were sold. As a result, shareholders saw the value of their assets become much less valuable in a short time.

Ageas also opened the books for the past six months. A profit of € 606 million was recorded, compared to € 441 million a year earlier. CEO Bart De Smet pointed out that both life insurance and the non-life branch (non-life insurance) performed well. In addition, there was a positive contribution from Asia.

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