AG insurance offers itself Touring – Companies

Big change in the world of car assistance in Belgium: the Touring group will sell Touring SA to the insurance company AG (Ageas group).

The size of the transaction was not disclosed. This operation follows a collaboration launched in 2019 between AG and Touring SA, in particular through the provision of a support service on behalf of AG. In addition, AG and Touring, together with BNP Paribas Fortis, are shareholders in a young company, Optimile, which provides access services to charging stations.

The size of the transaction was not disclosed. This operation follows a collaboration launched in 2019 between AG and Touring SA, in particular through the provision of a support service on behalf of AG. In addition, AG and Touring, together with BNP Paribas Fortis, are shareholders in a young company, Optimile, which provides access services to charging stations. Following the investigation of the transaction by the competition authorities, Touring SA’s shareholding will be divided between AG for 75% and the bank BNP Paribas Fortis for the remainder. The titles were previously owned by ASBL Touring Club Royal de Belgique, both the association for the defense of motorists and the umbrella unit of the Touring group (which has a consolidated turnover of 200 million and employs 1,200 people). As a result of the operation with AG, it will transfer its commercial activities and assistance activities with the related personnel to Touring SA. The association has 300,000 members (each policyholder automatically becomes a member of ASBL) and will continue its path independently, weighted by the transaction amount and with a team of about ten people. It will continue to exercise an “independent voting role as a representative of the road user in the broadest sense” and will continue to be chaired by Thierry Willemarck. Many players in the aid world have already been taken over by financial groups: “VAB belongs to the KBC group”, points out Joost Kaesemans, spokesman for the Touring group; Europe Assistance is controlled by the insurance company Generali. But these actors leave a distinct mark. The same will apply to Touring SA, which will remain a separate entity within the AG group. Touring specializes in emergency assistance in Belgium (car, motorcycle, bicycle) and assistance for international travel. The group also has integrated windscreen repair, has technical inspection and driving test centres. All these activities are included in the transaction.

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