Aedes

What Aedes does

Aedes S.A. is a Belgian mandated insurance underwriter (gevolmachtigde onderschrijver) founded around 2000, headquartered in Namur with an operational office in Oudenaarde. The company designs, prices, and manages insurance products but does not carry underwriting risk on its own balance sheet; risk is technically carried by Monceau Générale Assurances and AXA Belgium, with Aedes earning commission on premiums. It distributes exclusively through a network of 2,200+ independent insurance brokers across Belgium, with at least one broker present per postal code, and provides ongoing training and support to this channel rather than selling directly to consumers.

The product portfolio spans four lines: auto insurance (P+ Auto with age-segmented tiers P-Jeune through P75, CARES à la carte auto, and Connexes for motorcycles, oldtimers, tractors, and motorhomes); home and fire insurance (PAC-Aedes customizable, P-Home priced per square meter, and PLiZ gamified tenant insurance mandatory across Belgium since November 2024); bicycle and mobility insurance (PVélo in Solo and Family formulas) plus the MyBike registration platform launched in 2024 with 130,000+ registered cyclists; and auto legal protection (Pn1), which carries the highest coverage ceiling on the Belgian market at €150,000 per claim and won the DECAVI 2025 Trophy. Service commitments include D+1 (24-hour contract response), D+2 (48-hour claims advancement), and NS+2U (2-hour claim file opening).

The business model is B2B2C: Aedes generates recurring subscription revenue through insurance premiums paid by policyholders and routed via brokers, while bearing no direct customer-acquisition cost. Operating expenses are supported by a headcount of 11-50 employees, ISAE 3402 certification (held for six consecutive years, audited annually by BDO), and FSMA registration as a mandated underwriter. The company has no disclosed external funding, no parent company, and no M&A activity, indicating an owner-operated, profitable niche operator rather than a venture-backed insurtech.

Name

Aedes

Legal name

AEDES S.A.

Website

https://aedesgroup.be

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Aedes is a Belgian mandated insurance underwriter that designs and distributes auto, home, bicycle, and auto legal protection products exclusively through a network of 2,200+ independent insurance brokers across Belgium, with risk carried by Monceau Générale Assurances and AXA Belgium.

Ownership category

akta.pro rank

Product category

Personal Lines Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Electric Vehicle (EV) Personal Auto Insurance (FSAJAAAH)

Keywords

• Auto insurance underwriting
• Home insurance products
• Legal protection insurance
• Bicycle insurance coverage
• Tenant insurance solutions

Headquarters

HQ city

Namur

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: Aedes generates revenue through insurance premiums collected from policyholders via its broker network. The company acts as a mandated underwriter, creating and managing insurance products while the actual risk is carried by Monceau Générale Assurances and AXA Belgium.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Aedes designs and underwrites simple, innovative personal insurance products (auto, home/fire, bicycle/mobility and auto legal protection) for Belgian consumers. The company operates as a mandated underwriter (gevolmachtigde onderschrijver), creating policy wording and pricing while transferring the actual risk to Monceau Générale Assurances and AXA Belgium. Distribution is carried out exclusively through a network of 2,200+ independent insurance brokers; Aedes does not sell directly to end customers.

Product overview

Aedes is a Belgian insurance company operating as a mandated underwriter (gevolmachtigde onderschrijver) that creates and distributes innovative insurance products exclusively through independent insurance brokers across Belgium. The product portfolio spans four main categories: Auto insurance (P+ Auto with age-based variants P-Jeune through P75, plus CARES 'à la carte' and Connexes for motorcycles/oldtimers), Home insurance (PAC-Aedes customizable, P-Home per-m² pricing, and PLiZ gamified tenant insurance), Legal Protection (Pn1 award-winning auto legal protection in Vehicle/Family/Fleet formulas), and Bicycle insurance (PVélo with Solo/Family formulas plus MyBike registration platform). Service commitments include D+1 (24-hour contract request processing), D+2 (48-hour claims processing), and NS+2U (2-hour claim file opening). The company distributes through over 2,200 partner brokers and insures risks through Monceau Générale Assurances and AXA Belgium.

Differentiator

Problem solved

Functional benefit

Brands

• P+ Auto: Auto insurance product line with age-based tiers (P-Jeune, P25, P30, P35, P40, P50, P60, P75) offering RC, Omnium, and optional Pack Tranquillité coverage.
• CARES
• Pn1 (Polis Nummer 1)
• P-Home
• PAC-Aedes
• PLiZ
• PVélo / PFiets
• Connexes
• MyBike

Products and services

• P+ Auto Comprehensive auto insurance product for drivers aged 18-79 offering mandatory RC plus optional Omnium (limited or full) and a Pack Tranquillité with legal protection, driver protection and 24/7 assistance; distributed via Aedes brokers and supported by a Bonus Franchise loyalty reward.
• CARES Flexible à la carte auto insurance for drivers aged 25-75+ with customizable RC, Omnium (limited or full), legal protection, driver protection and included auto assistance.
• Connexes (Bijhorende polissen) Supplementary insurance for motorcycles, oldtimers, motorhomes and tractors, offered at attractive rates to policyholders whose main vehicle is insured with P-products or CARES via a connectivity pricing model.
• PAC-Aedes Customizable à la carte fire/home insurance for owners (resident or non-resident), tenants and occupants of houses, apartments or offices, with unlimited capital coverage via a coverage grid, 24/7 home assistance and optional theft, garden and swimming pool coverage.
• P-Home Per-square-meter fire insurance for owner-occupants of single-family homes, with instant premium calculation based on floor area, 6 building premiums, one content premium, unlimited capital coverage and an Extension of Coverage clause.
• PLiZ Gamified tenant and co-tenant insurance based on number of bedrooms, offering 3 coverage options (liability, content, or both) and 3 content formulas (PLiZ 1, 2, 3), with optional theft coverage and Pack PLiZ+.
• Pn1 (Rechtsbijstand Auto) Auto legal protection insurance ("Policy Number 1") offering the highest coverage ceiling on the Belgian market at €150,000 incl. VAT per claim, worldwide coverage, and awarded Best Auto Legal Protection at the DECAVI 2025 Trophies. Available in 3 formulas: Vehicle, Family and Fleet.
• PVélo / P-Fiets Bicycle and mobility device insurance covering all bike types, e-bikes and scooters with 4 coverage options (Omnium, RC, individual accident, legal protection) in 2 formulas (Solo for 1 bike, Family for all bikes); bikes must be secured with approved ART** or Sold Secure locks.
• MyBike bicycle registration platform Bicycle registration platform available to Belgian cyclists that pairs registered bikes with approved lock data, achieving a 14.5% stolen-bike recovery rate (3.5x higher than unregistered bikes) for over 130,000 registered users.

Quantifiable outcome

• 14.5% of stolen registered bicycles recovered (3.5x more than unregistered bikes)
• +2 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Monceau Générale AssurancescoreOthersMonceau Générale Assurances is the primary insurance company that technically carries (underwrites) the risks for Aedes insurance products. Based in France (1, avenue des Cités Unies d'Europe, 41103 Vendôme cedex), with €45,000,000 share capital, regulated under French insurance code, supervised by ACPR in Paris, operating in Belgium under LPS license 3067.
• AXA BelgiumcoreOthersAXA Belgium (1000 Brussels, Troonplein 1) is a partner insurance company providing additional risk capacity and product offerings alongside Monceau Générale Assurances for Aedes insurance products. Supervised by National Bank of Belgium.
• FSMA (Financial Services and Markets Authority)coreOthersBelgian financial regulator (Congresstraat 12-14, 1000 Brussels) that oversees Aedes as a mandated underwriter and insurance intermediary. Aedes is registered as mandated underwriter supervised by FSMA.
• BDOminorOthersBDO conducts the annual ISAE 3402 certification audit for Aedes, verifying internal control processes and compliance with procedures for 6 consecutive years.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ethias: Belgian mutual insurer offering personal lines (auto, home, family) plus legal protection. Highly comparable to Aedes in product breadth, Belgian-only footprint, and broker-and-direct distribution, though materially larger and state-affiliated — a direct substitute for Aedes's offerings in similar customer segments.
• ARAG: Europe's largest specialist legal-protection insurer offering motor, household and employment legal-expense cover across multiple EU markets. Directly comparable to Aedes's Pn1 auto legal-protection product and the most relevant specialty peer for franchise ambitions around the Pn1 award.
• Yuzzu: Belgian personal lines insurer (originating from Touring) offering auto and home through broker and direct channels. Comparable scale, Belgian-only P&C focus, and similar specialization in customer-experience-led positioning for non-standard retail segments.
• DAS UK: UK-based legal-protection specialist offering motor, household and employment legal-expense cover, with expanding European footprint. Functionally comparable to Aedes's Pn1 product and a useful benchmark for how a legal-protection-only franchise can scale beyond one geography.
• Touring: Belgian mobility and roadside-assistance organization with affiliated insurance offerings in auto and mobility devices. Overlaps directly with Aedes's auto/mobility book and the PVélo bicycle/mobility-device niche, and is one of Aedes's closest peer sets in Belgium's specialty P&C market.
• P&V Assurances: Belgian cooperative insurer offering auto, home and family protection through brokers and direct channels. Closely comparable product mix, Belgian focus, and broker-distributed model — a near-substitute for Aedes's offerings at similar SME and retail customers.

Broad incumbents

• AG Insurance: Joint venture between Ageas and BNP Paribas Fortis, one of the largest Belgian insurers offering auto, home, life and legal protection through bank and broker channels. A broad incumbent overlapping every Aedes product line at materially greater scale and balance-sheet strength.
• Belfius Insurance: Insurance affiliate of Belfius Bank offering personal P&C and life products through bank and broker channels in Belgium. Comparable product set to Aedes with a strong bank-distribution moat, serving as a direct large-competitor benchmark.
• KBC Insurance: Insurance arm of KBC Group, distributing auto, home and legal protection through KBC Bank's branch network plus brokers in Belgium. Significant product overlap with Aedes, with a structurally larger capital base and integrated bank distribution that Aedes cannot match.
• Allianz Belgium: Belgian subsidiary of Allianz offering auto, home, legal protection and specialty lines through brokers and direct channels. Competes with Aedes across personal auto and home, and notably already co-provides risk capacity to Aedes — making it both a competitor and a counterparty.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Aedes.Assurances
• LinkedInlinkedin.com/company/aedes-sa

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aedes