Belgian Insurer Ageas Is Said to Prepare Exit From France

Belgian insurance firm Ageas is preparing to exit its French operations, people familiar with the matter said, in a retreat from its weakest-performing life insurance market in Europe.

The Brussels-based company is working on a sale of the French business, according to the people, who asked not to be identified discussing confidential information. The unit could be valued at as much as 330 million euros ($330 million), one of the people said.

A representative for Ageas declined to comment.

Ageas houses insurance assets previously owned by Fortis, the Belgian financial services giant bailed out during the 2008 financial crisis. It ...