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Fortis rescue

Fortis insurance

The Governments of Belgium, Luxembourg and the Netherlands have invested EUR 11.2 billion in the respective Fortis bank institutions in each country. This is a strong signal of confidence by the respective governments in the long-term viability of Fortis. Importantly the Company will continue to operate under the Fortis Brand.

 

“Fortis UK operates as a separate legal entity from Fortis Group. We are regulated by the FSA in the UK. We are a robust business with a strong capital position and with continued growth in profitability. We are having another good year and in June reported a half-year profit before tax of £43.3 million. In the UK the insurance operations have not been affected by the recent events and our customers should not be concerned as it is very much business as usual. Their policies will not be impacted in any way and we remain committed to putting their needs first.”

 

The measures taken by the Governments in Belgium, Luxembourg and the Netherlands to invest in Fortis are a signal of their confidence in Fortis.

 

Earlier this year, the group launched Fortis Life UK, a new life insurance business that offers two protection products, including "Real Life Cover", which it developed in partnership with mass market advisory firm LifeSearch.

Life insurance: News update: September 2008