Ageas appoints new CEO and Chairman

Ageas announced that subject to the necessary approvals, Hans De Cuyper will succeed Bart De Smet as CEO of Ageas with effect from October 22 2020.  At the same time, Bart De Smet will become the Chairman of the Group replacing Jozef De Mey who recently announced his decision to step down.

With Hans De Cuyper, the current CEO of Ageas’s Belgian subsidiary AG Insurance, Ageas appoints an experienced leader and people manager with extensive knowledge of the Group and the insurance sector. Through various senior management positions held in both Asia and Belgium Hans is extremely well equipped to bring the best of both cultures together and to successfully lead Ageas in the next phase of its development.

Hans joined the company in 2004 as Director Insurance Management Asia in Hong Kong.  In 2007, he moved to Malaysia as Chief Financial Officer in Etiqa Insurance & Takaful, the joint venture between Maybank and Ageas. From 2011 until 2013, he was Chief Executive Officer for Etiqa and member of the Executive Committee of Maybank, the leading Malaysian bank. In September 2013, Hans returned to Belgium to take up the role of Chief Financial Officer of AG Insurance, Ageas’s Belgian subsidiary.  Since 1 October, 2015, Hans held the position of Chief Executive Officer of AG Insurance and consequently CEO of the ‘Belgium’ segment within the Group.

Bart De Smet joined the company in 1998 as a member of the management committee of Fortis AG (now AG Insurance) with responsibility for Fortis Employee Benefits. In 2005, he took charge of the Non-Life business and Broker Channel at Fortis Insurance Belgium, assuming the position of CEO of Fortis Insurance Belgium in 2007. In June 2009 he became CEO of Fortis, which was renamed Ageas in 2010. Under his leadership, the legacies from the financial crisis were resolved and Ageas transformed into a strong and independent international insurance Group.

As newly appointed CEO, Hans will be proposed as member of the Ageas Board at the Shareholders’ Meeting of 22 October 2020.  Following his appointment as CEO of Ageas, the selection process to appoint a new CEO for AG Insurance has been launched. In the coming months, Bart and Hans will continue to work closely with their respective executive teams to support a smooth transition of responsibilities.

Both appointments are subject to the approval of the National Bank of Belgium.