Fortis SA/NV
News and overview for Fortis SA/NV
WRAPUP 1-BNP Q3 beats forecasts, Commerzbank hikes provisions
Reuters | 18 days 11 hours 19 minutes ago
PARIS/FRANKFURT, Nov 5 (Reuters) - French BNP Paribas SA (BNPP.PA) beat forecasts with a profit rise on Thursday, helped by a boost from assets it acquired from Fortis SA/NV (FOR.BR), while Germany's Commerzbank AG (CBKG.DE) slipped further into the red.
EU mergers and takeovers (Nov 11)
Reuters | 12 days 3 hours 6 minutes ago
BRUSSELS, Nov 11 (Reuters) - The following are planned mergers under review by the European Commission and a brief guide to the EU merger process:
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Company Overview
| Company: | Fortis SA/NV |
|---|---|
| Industry: | Insurance |
| Website: | http://www.fortis.com |
Fortis SA/NV stoically defends its fortress of insurance offerings, though its financial service ramparts have been pillaged. The company continues to provide life, health, and property/casualty insurance in Belgium and Luxembourg, as well as other European and Asian countries. Laid low by high debt and the contraction of credit markets in 2008, the firm received a hefty bailout from the Benelux governments. Fortis then sold its Dutch units to the Netherlands government and its remaining bank operations to BNP Paribas. Fortis SA/NV is the Belgian half of the larger Fortis holding organization. Fortis SA/NV and its sister company, Dutch-traded Fortis N.V., have identical operations and are known simply as Fortis.
Key Numbers
| Sales in U.S. Dollars (mil.) | 16,888.6 (2008) |
|---|---|
| One-year % Growth in Sales | -90.5 (2008) |
| Net Income in U.S. Dollars (mil.) | -39,461.801 (2008) |
| One-year % Growth in Net Income | 0.0 (2008) |
| Number of Employees | 62,009 (2007) |
| One-year % Growth in Number of Employees | 3.8 (2007) |
| Fiscal Year-End | December |