Fortis Insurance Company Description
Fortis Insurance is the umbrella organization for the insurance holdings of Benelux finance group Fortis. (Fortis uses a complicated binational holding structure; ownership rests ultimately with both Fortis SA/NV and Fortis N.V.) Fortis Insurance offers a wide array of insurance products, including life insurance, group benefits, and many types of property/casualty insurance in Belgium, the UK, and elsewhere in Europe and Asia. In 2008 the company's struggling parent firm, burdened by debt and a bad credit environment, took an €11.2 billion (about $16 billion) bailout from the Benelux governments. When the company continued to struggle, Fortis sold all of its banking operations and some insurance operations.
View the Comprehensive Company Description for Fortis Insurance
The Company Description provides a historical perspective of Fortis Insurance's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Fortis Insurance's evolution in the marketplace.
