The French Minister of Economy and Finance, after receiving advice from the supervisory authorities and the advisory bodies, and acting in the interest of policyholders, has just announced its opposition to the takeover of Fortis Assurances (France) by Swiss Life (France).
This decision does not in any way reflect upon the value of these companies, or the quality of their operations.
Consequently, Fortis France and its subsidiary, Fortis Assurances, which focuses on life insurance through various distribution networks, will remain within Fortis.
Last February, Fortis and Swiss Life signed an agreement to transfer to Swiss Life (France) the shares of Fortis in Fortis France, the holding company of Fortis Assurances in France. The agreement required the approval of the authorities.
(source: Fortis)
