Dexia SA and KBC Groep NV are the biggest Benelux holders of corporate and government debt of Europe’s so-called peripheral states as a percentage of shareholder equity, ING Groep NV said in an assessment of banks and insurers in Belgium, the Netherlands and Luxembourg.
SNS Reaal NV, a Dutch bank and insurer struggling with real estate losses, plans to strengthen capital buffers by selling a stake to private investors and involve bond holders to help limit the burden on taxpayers.
Ageas SA, the majority owner of Belgium’s biggest life insurer, reported insurance profit that beat analyst estimates and announced a stock buyback as a lockup on 78.9 million shares held by BNP Paribas SA expires.
KBC Groep NV ’s sale of its private bank to India’s Hinduja Group for 1.35 billion euros ($1.88 billion) failed to get regulatory approval, setting back the firm’s plan to boost capital and repay bailout funds.
KBC Groep NV, Belgium’s biggest bank and insurer by market value, reported a smaller-than-estimated drop in profit on capital gains in the Belgian insurance unit and lower loan losses in all regions except Ireland.