Luís Menezes takes the helm at Ageas Group Portugal

 In Appointments, Insurance, News

The Authority for the Supervision of Insurers and Pension Funds (ASF) has announced that Luís Menezes will be the new CEO of the Ageas Group Portugal, replacing Steven Braekveldt at the second largest insurance company in Portugal.

For the Belgian manager, “Luís’ track record as a successful leader and the strong alignment with Ageas’ culture and values will be drivers of a new cycle of growth for the Group”.

Luís Menezes spent 18 years at Unilabs, a medical analysis network with 3,000 employees, in a thousand different locations, and which performs 250 million medical services per year. Although health is a part of the business, the group is still essentially an insurer in the Life branch through Ocidental and Ageas Vida and, in the Non-Life branches, through Ageas Seguros, Médis and Seguro Directo. It also has Ageas Pensões, a leader in Portugal among pension fund managers.

In total, the turnover of the Ageas Group was €1.9Bn in 2023, which corresponded to a share in the national market of 15.2%. It has 1.8 million customers, 1,335 employees and, at the end of last year, at Ageas Pensions alone it managed assets of €6.2Bn.

The Ageas group is a wide range of companies. Ageas Seguros, Ageas Vida and Médis are independent companies and brands, but 100% of the group, Also in this area there is Millennium bcp Ageas, in which the bank holds 49% and the group the majority of the capital. This holding company uses the Ocidental Vida brand and holds the exclusive right to sell insurance to Millennium customers.