History
Fortis came into being in 1990, as the result of a merger of AMEV, a large Dutch insurer and VSB, a Dutch Banking Group; these were joined later that same year by AG, a Belgian insurer.
In addition to acquiring a retail bank in Poland, Fortis acquired 89.3% of the shares of Turkey's fifth largest privately owned bank Dışbank from Doğan Group on 11 April 2005. Considering the outstanding public shares, the total bid is approximately €985 million. From 28 November 2005 on, the network of 173 branches of Dışbank were rebranded Fortis.
As of 2006, its profits were €4.56 billion according to Forbes magazine with a market value of €45.74 billion.
Fortis acquired Dryden Wealth Management from Prudential Financial on 4 October 2005.
Fortis Insurance UK has its own in-house worldwide medical emergency service, Assistance International. Fortis is the shirt sponsor of the R.S.C. Anderlecht and Feyenoord Rotterdam football clubs. Fortis is also the main sponsor of the Turkish Football Cup and the Luxembourg National Division.
Read more about this topic: Fortis (finance)
Famous quotes containing the word history:
“The history of his present majesty, is a history of unremitting injuries and usurpations ... all of which have in direct object the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world, for the truth of which we pledge a faith yet unsullied by falsehood.”
—Thomas Jefferson (1743–1826)
“The history of persecution is a history of endeavors to cheat nature, to make water run up hill, to twist a rope of sand.”
—Ralph Waldo Emerson (1803–1882)
“The reverence for the Scriptures is an element of civilization, for thus has the history of the world been preserved, and is preserved.”
—Ralph Waldo Emerson (1803–1882)