Fortis SA/NV Company Description
Fortis built a European fortress of insurance and banking, but its enemies are storming the ramparts. The firm, which has provided an array of insurance, banking, and investment services in the Benelux countries and elsewhere, is in the process of breaking itself up. Laid low by a combination of high debt (brought on by its part in the 2007 takeover of ABN AMRO) and the contraction of credit markets in 2008, the company got help from its home Benelux countries in the form of an €11.2 billion (more than $16 billion) government bailout. When that failed, Fortis agreed to sell most of its Dutch operations to the Netherlands government and its Belgian and Luxembourg businesses to BNP Paribas.
View the Comprehensive Company Description for Fortis SA/NV
The Company Description provides a historical perspective of Fortis SA/NV'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 SA/NV's evolution in the marketplace.
