Financial groups create synergies between insurers and banks

Consolidation in the Belgian life market has resulted in 82.0% of the market being in the control of just six groups

According to statistics from the Belgian financial services regulator, the Banking, Finance and Insurance Commission (CBFA), the total number of companies authorised to operate in the Belgian market in 2003 was 187 (excluding the 670 companies authorised under the EU’s freedom of services provisions).