# Ethias

Ethias is an Insurance based in Liège, Belgium.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Liège, Belgium
- **Region:** Europe
- **Address:** Rue des Croisiers 24, 4000 Liège, Belgium
- **Founded:** 1919
- **Assets under management:** Undisclosed
- **Website:** ethias.be
- **LinkedIn:** https://www.linkedin.com/company/ethias
- **Wikidata:** Q1371217

## Regulatory record

- **Reports private funds:** No

## About

Ethias is an insurer offering direct, digital, and public services in the insurance sector. It provides personal insurance for individuals and employers, and corporate insurance for public and private entities. Founded in 1919, Ethias is based in Liege, Belgium.

## Sectors

- Real Estate
- Infrastructure
- Private Equity

## Offices

- Hasselt, Belgium

## People

- Philippe Lallemand — CEO
- Myriam Van Varenbergh — Chair of the Board of Directors

## Questions

### How is Ethias structured as an investor — does it operate more like an insurance company or an asset manager?

Ethias operates as an asset owner: it manages its general account, deploying policyholder premiums and balance-sheet reserves into a diversified portfolio. The firm makes direct investments — owning properties like the Cityforward portfolio in Brussels and holding a Belgian Economy Investment Portfolio — rather than functioning as a third-party asset manager. Its mutual structure and public shareholders reinforce a long-duration approach.

### What does Ethias own directly in real estate?

Ethias holds a portfolio of commercial, mixed-use, and specialized properties. Known assets include the Cityforward mixed-use portfolio in Brussels' European Quarter, two headquarters buildings in Liège (the current site on Rue des Croisiers and the new Coronmeuse development), the WOOD HUB commercial property in Brussels, and the BoCasa care home complex in Heusden-Zolder.

### How are Ethias' public shareholders involved?

Three public entities anchor Ethias' shareholding: SFPIM (the Belgian Federal Holding and Investment Company), Wallonie Entreprendre (representing the Walloon Region), and the Flemish Region. This arrangement dates to a 2014 recapitalization and gives the Belgian state a meaningful governance role, distinguishing Ethias from purely private mutual insurers.

### What is Ethias' approach to responsible investing?

Ethias became a signatory to the UN Principles for Responsible Investment in 2020 and joined the Belgian Alliance for Climate Action, which focuses on science-based decarbonization targets. The firm also operates the Ethias Impact Fund, a philanthropic vehicle that extends its ESG posture beyond the balance sheet into social and environmental initiatives.

### Does Ethias lease assets beyond its real estate portfolio?

Yes. Ethias maintains an operational leasing business — Ethias Lease — which manages a fleet of vehicles. This unit functions as both a customer-facing service and a balance-sheet asset, reflecting the firm's preference for tangible, income-generating holdings alongside traditional insurance instruments.

## Related profiles

- [ETH Zurich](https://altss.com/profile/eth-zurich)
- [Ethias Insurance](https://altss.com/profile/ethias-insurance)

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Updated: 2026-06-03T20:00:00.000Z

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