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#381 by ARRBelgiumethias.be ↗

Ethias

Belgian direct insurer selling life, non-life, health and pension insurance to individuals, public bodies and businesses. It is not an AI company.

ARR
$323.6M revenue (est.)
as of Oct 2026
Employees
1.4K
as of Oct 2026
Valuation
—
latest round
ARR / employee
$231K
revenue efficiency
About Ethias

Ethias is a Belgian mutual-style insurer founded in 1919. It sells motor, home, health, workers' compensation, savings and pension products directly, digitally and through offices. It serves about 1.3 million individual clients and over 45,000 public-body and corporate clients. Its 2025 premium income was €3.83bn (up 8% on 2024), with net income of €229m and a Solvency II ratio of 203%. The wider group, which includes ICT provider NRB, has about 5,000 employees. It launched the reinsurance subsidiary Ethias Re in 2025. Its annual report says data, AI and hyperautomation are now foundations of its insurance model.

Investors · 2

BoardSFPI-FPIM (Federal Holding and Investment Company)Venture capital· Olivier Henin (Director of Ethias SA; Vice-Chairman of SFPI)
InvestorWallonie Entreprendre (formerly SRIW)Venture capital1 partner on file
1 partner contacts across these firms, emails and LinkedIn are in Investor Contacts for paid members.

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