KBC Group, an independent, medium-sized bancassurer, has announced that Frans Florquin, CEO of its Belgium business unit is planning to retire from the company on May 1, 2008.

Since the establishment of KBC Group in 2005, Mr Florquin heads the Belgium business unit. Following a proposal by the executive committee and after the advice of the nomination committee, the board of directors of KBC Group has decided to appoint Danny Raymaeker to succeed Mr Florquin as a member of the executive committee of KBC Group. The appointment will take effect on May 1, 2008.

The boards of directors of KBC Bank and KBC Insurance subsequently decided to appoint Mr Raymaeker as a member of the executive committees of KBC Bank and KBC Insurance, with effect on the same date.

At the next annual general meeting of shareholders of KBC Insurance, Mr Raymaeker will also be nominated as managing director of KBC Insurance. He join the office on May 1, 2008.