Dutch/Belgian insurance conglomerate Fortis is very happy with the way its Australian arm is performing, says Australia MD Vyn Tozer. He’s upbeat about the company’s future in the local market, despite media speculation that it’s on the block. Operating the VACC Insurance, AIM Insurance and AMEV Insurance companies from its Melbourne head office, Fortis has long been regarded as a canny – and successful – niche operator.

While the parent company has been through some turmoil over the past year, reports from Europe say new global CEO Anton van Rossum is getting things quickly in order since his appointment to the job about six months ago.

While Mr Tozer declined to comment on the progeny of local reports that the company is for sale, it’s believed this has stemmed from a report in the Australian Financial Review several months ago. This report quoted a speech made by Mr van Rossum saying he wanted Fortis’ Asian business to be “sizable”. From that have come some local journalists’ conclusions that the company’s relatively small Australian operations must be for sale.

In fact, the major thrust of Mr van Rossum’s speech from which the AFR and others have made their conclusions concentrated on the need for performance from existing assets. “Against that criteria Fortis in Australia is performing above all expectations and targets set for it,” Mr Tozer said.