Belgium-based Belfius Banque SA named Michel Luttgens CEO of Corona Direct Assurances, one of its insurance operating units.

Luttgens will remain on the management board of Belfius Insurance SA as chief distribution officer, focusing on the networks of the company's businesses, which also include AP Assurances and Elantis. Belfius Insurance CEO Dirk Vanderschrick will take over as chairman of Corona Direct's board.

Both moves are subject to Belgian central bank approval and will take effect Sept. 1.