Insurance in Belgium

Belgian Insurance Companies Logos

Click on the logos of the insurers to obtain a bunch of updated information offering each insurer from Belgium. Our goal is to help you find the best insurance.

Insurance Companies in Belgium

Here are a few notable Belgian insurance companies

• AG Insurance is a leading insurer in Belgium and is part of the Ageas Group.
• Ethias is a Belgian insurer that primarily offers insurance products for individuals, professionals, and public entities.
• AXA Belgium is a multinational insurer with a significant presence in Belgium, offering a wide range of insurance and financial services.
• P&V Group is a Belgian cooperative insurer that provides various insurance products and services.
• Belfius is the insurance arm of Belfius Bank, a Belgian banking and insurance.

Banking, Finance and Insurance Commission

The Banking, Finance and Insurance Commission (CBFA) (Dutch: Commissie Voor het Bank-, Finance – en Assurantiewezen, French: Commission Bancaire, Financière et des Assurances) was the financial regulatory agency for Belgium. 

It was replaced by a new agency, the Financial Services and Markets Authority (FSMA) on the 1 April 2011 as part of a restructure of the Belgian financial regulatory system

The CBFA was formed in 2004 with the merger of Insurance Supervisory Authority (Dutch: Controledienst voor de Verzekeringen CDV), which was originally created in 1975, and the Banking and Finance Commission (Dutch: Commissie voor het Bank- en Financiewezen CBF), which was created in 1935, to form a single agency to regulate all Belgian financial markets.

It was replaced by the Financial Services and Markets Authority (FSMA) when the Law of 2 July 2010 was implemented. 
This was to develop the supervision of the financial sector towards a bipartite model known as the “Twin Peaks” model. 

This bipartite model is intended to provide a structure for the two major objectives of the supervision of the financial sector; maintaining the macro- and microeconomic stability of the financial system, which falls within the competence of the central bank, that is, the Belgian National Bank; ensuring that market processes are equitable and transparent, that relationships between market participants are appropriate and that clients are treated honestly, fairly and professionally (notably from the perspective of rules of conduct), tasks which fall henceforth within the competence of the Financial Services and Markets Authority (FSMA), formerly the CBFA.​

From Banking, Finance and Insurance Commission (Belgium) Wikipedia

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Economy Of Belgium

Brussels
Being the de facto European capital, its economy is massively service-oriented. It has several regional headquarters of multinational corporations. It is also host to a great number of European institutions, besides the Belgian federal government, the government of the Flemish Community, and the government of the French Community. Brussels also has many commuters, with 230,000 coming from Flanders, and 130,000 from Wallonia. Much of the success of Brussels is based on the high educational skills of its workforce. As of July 2012, however, the statistical unemployment rate in Brussels was 20.6%

Flanders
The port of Antwerp was in 2004 the second largest European sea port by cargo volume, and the Antwerp freight railway station accounts for one-third of Belgian freight traffic. Antwerp is the first diamond market in the world, diamond exports account for roughly 1/10 of Belgian exports. The Antwerp-based BASF plant is the largest BASF-base outside Germany, and accounts on its own for about 2% of Belgian exports. Other industrial and service activities include car manufacturing, telecommunications, photographic products.

The port of Bruges-Zeebrugge is one of the most important, modern and fastest growing ports in Europe. It is Europe’s largest port for RoRo traffic and natural gas. It also is the world’s largest port for the import and export of additional vehicles. Tourism is also a major component of the economy of Bruges. Because of its pristine medieval city centre, Bruges has become a popular tourist destination. Annually about 2.5 million day tourists visit the city and in 2007 there were about 1.4 million overnight stays.

The port of Ghent, in the city’s north, is the third largest port of Belgium. It is accessed by the Ghent-Terneuzen Canal, which ends near the Dutch port of

Terneuzen on the Western Scheldt. The port houses, among others, big companies like ArcelorMittal, Volvo Cars, Volvo Trucks, Volvo Parts, Honda, and Stora Enso. The Ghent University, the second largest university of Belgium by number of students, and several research oriented companies are situated in the central and southern part of the city. Tourism is increasingly becoming a major employer in the local area. Begonias have been cultivated in the Ghent area since 1860. Belgium is the world’s largest producer of begonias, planting 60 million tubers per year. Eighty percent of the crop is exported

Wallonia
In the past, Liège was one of the most important steel-making centers in Europe. Starting in 1817, John Cockerill extensively developed the iron and steel industry. The industrial complex of Seraing was the largest in the world. Although now a shadow of its former self, steel production and manufacturing steel goods remain important.

Liège has also been an important centre for gunsmithing since the Middle ages and the arms industry is still strong with the headquarters of FN Herstal. The economy of the region is now diversified, the most important centers are mechanical industries (aircraft engine and Spacecraft propulsion), space technology, information technology, biotechnology and also production of water, beer or chocolate. Liège Science Park southeast of the city, near the University of Liège campus, houses spin-offs and high technology businesses. Liège is also a very important logistic center: the city possesses the third largest river port in Europe, directly connected to Antwerp, Rotterdam and Germany via the Meuse river and the Albert Canal. In 2006 Liège Airport was the 8th most important cargo airport in Europe. A new passenger terminal was opened in 2005. It is also the major hub and the headquarters of TNT Airways.

Charleroi features an industrial area, iron and steel industry, glassworks, chemicals, and electrical engineering. Charleroi is in the center of a vast coal basin, called Pays Noir. Many slag heaps still surround the city. Charleroi is also known for its publishing industry with Dupuis, one of the major publishers of Franco-Belgian comics, in Marcinelle.Belgium is part of a monetary union, the Eurozone (dark blue), and of the EU single market.

Belgium’s strongly globalized economy

and its transport infrastructure are integrated with the rest of Europe. Its location at the heart of a highly industrialized region helped make it the world’s 15th largest trading nation in 2007. The economy is characterized by a highly productive workforce, high GNP and chief exports per capita. Belgium’s main imports are raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, and oil products. Its principal exports are machinery and equipment, chemicals, finished diamonds, metals and metal products, and foodstuffs.

​The Belgian economy is heavily service-oriented and shows a dual nature: a dynamic Flemish economy and a Walloon economy that lags

The Belgian economy is heavily service-oriented and shows a dual nature: a dynamic Flemish economy and a Walloon economy that lags. One of the founding members of the European Union, Belgium strongly supports an open economy and the extension of the powers of EU institutions to integrate member economies. Since 1922, through the Belgium-Luxembourg Economic Union, Belgium and Luxembourg have been a single trade market with customs and currency union.
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Steelmaking along the Meuse River at Ougrée, near Liège
Belgium was the first continental European country to undergo the Industrial Revolution, in the early 19th century. Liège and Charleroi rapidly developed mining and steelmaking, which flourished until the mid-20th century in the Sambre and Meuse valley and made Belgium among one of the three most industrialized nations in the world from 1830 to 1910. However, by the 1840s the textile industry of Flanders was in severe crisis, and the region experienced famine from 1846 to 1850.

Despite an 18% decrease observed from 1970 to 1999, Belgium still had in 1999 the highest rail network density within the European Union with 113.8 km/1 000 km2. The same time, 1970–1999, has seen a tremendous growth (+56%) of the motorway network. In 1999, the density of km motorways per 1000 km2 and 1000 inhabitants amounted to 55.1 and 16.5 respectively and were significantly superior to the EU’s means of 13.7 and 15.9.

Belgium experiences some most congested traffic in Europe. In 2010, commuters in the cities of Brussels and Antwerp spent respectively 65 and 64 hours a year in traffic jams. Like in most small European countries, over 80% of the airways traffic is handled by a single airport, the Brussels Airport.

The ports of Antwerp and Zeebrugge share over 80% of Belgian maritime traffic, Antwerp are the second European harbor with a gross weight of goods handled of 115 988 000 t in 2000 after a growth of 10.9% over the preceding five years.

Insurance in Belgium – World Insurance Companies Logos.