LONDON (MarketWatch) -- Belgium's Fortis said Wednesday it swung to a second-half profit of 207 million euros from a loss of 635 million euros a year earlier as the group announced plans to change its name to ageas. Analysts had been expecting a profit of 280 million euros. The business comprises the remaining insurance operations after the banking unit of Fortis was acquired by BNP Paribas /quotes/comstock/24s!e:bnp (FR:BNP 53.40, -1.56, -2.84%) . Fortis said that, including the value of a call option it holds on BNP Paribas shares, profit in the second half of the year was 306 million pounds. "In 2009 and until today the market environment remained unpredictable and challenging," said CEO Bart De Smet. "2010 will be another important year during which we will focus on the development of our insurance activities in the interest of the long term future of our company," he added. Fortis said its new name "confirms our rebirth as a new company." The change requires the approval of shareholders.
