The story
To diversify its holdings and support its actuarial reserves Fortis has continuously invested in real estate. Since its creation in 1824 these investments have always been managed by a department specialised in real estate.
In 2000, AG ("Assurances Générales") changed its name to become Fortis AG. The Fortis AG real estate team was reinforced by bringing together all of its in-house real estate skills. A new entity was constituted: Fortis Real Estate.
On 12 July 2002, Fortis Real Estate acquired the Bernheim-Comofi group, active in the fields of Public Car Park Management (through an 85% stake in Interparking), Asset Management, Real Estate Development, and Property Management.
In May 2006, Fortis Real Estate and Groupe Mestdagh joined forces to create Ascencio, a REIT specialised in commercial real estate in city outskirts in Belgium and France.
On 1 July 2006, Fortis AG and Fortis Banque Assurances merged to form Fortis Insurance Belgium, the parent company of Fortis Real Estate.
After the demise and dismantlement of the Fortis group, Fortis Insurance Belgium changed its name to AG Insurance as of 22 June 2009.
On 21 September 2010, Fortis Real Estate followed suit to become AG Real Estate.
From Wikipedia’s article on AG Real Estate, shared under CC BY-SA 4.0.3