NN Group announces the completion of its acquisition of VIVAT Schadeverzekeringen N.V. (VIVAT Non-life) as per 1 April 2020, becoming the leading player in the Dutch Non-life insurance market. The completion of the transaction follows the fulfilment of customary closing conditions, including receipt of all necessary regulatory approvals.
As a result, NN has acquired 100% of the shares in VIVAT Non-life from Athora for a consideration of EUR 416 million, as well as the EUR 150 million Tier 2 loans provided by VIVAT N.V. to VIVAT Non-life.
David Knibbe, CEO NN Group: ‘This is an important milestone for NN Group. The completion of the acquisition of VIVAT Non-life adds additional scale and capabilities to our Non-life platform, enabling us to further improve our customer propositions and to increase our ability to invest in digital capabilities and innovation. We welcome VIVAT Non-life employees, customers and partners and look forward to continuing to serve customers and intermediaries.’
Together with Athora and VIVAT, NN Group will work towards a smooth integration of VIVAT Non-life into NN Non-life in the coming period. The results of VIVAT Non-life will be consolidated in the NN Group results as of 1 April 2020.
For further information on NN Group, please visit www.nn-group.com.