The Trade and Industry Appeals Tribunal in The Hague (College van Beroep voor het bedrijfsleven) has rejected Ageas's appeal against the fine imposed by the Dutch Authority for the Financial Markets (AFM) for Fortis's disclosure in June 2008.

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As reported previously, in 2010 the Dutch supervisory authority AFM imposed fines on Fortis SA/NV and Fortis N.V. for infringements of provisions of the Dutch Financial Supervision Act in June 2008. The AFM concluded that Fortis at that time, made statements on its future solvency position that contained or could constitute an inaccurate or misleading signal, and had not communicated in a timely fashion on the financial consequences of the sales required by the European Commission in connection with the takeover of ABN AMRO.

The Trade and Industry Appeals Tribunal has now rejected Ageas's appeal. This decision is final. This means that Ageas must pay the fine of EUR 576,000.

The decision of the Trade and Industry Appeals Tribunal is published on www.rechtspraak.nl.

Ageas is an international insurance group with a heritage spanning 190 years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. These are grouped around four segments: Belgium, United Kingdom, Continental Europe and Asia and served through a combination of wholly owned subsidiaries and partnerships with strong financial institutions and key distributors around the world. Ageas operates successful partnerships in Belgium, the UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and the UK. Ageas is the market leader in Belgium for individual life and employee benefits, as well as a leading non-life player through AG Insurance. In the UK, Ageas is the second largest Motor insurer and has a strong presence in the growing over 50's market. Ageas employs more than 13,000 people in the consolidated entities and over 30,000 in the non-consolidated partnerships, and has annual inflows of more than EUR 23 billion.