Athora Holding and NN Group to divide up Vivat’s insurance business
Athora Holding is set to acquire Vivat, a holding company for various Dutch insurance companies, from Anbang Group Holdings.
While Athora will retain Vivat’s life and asset management businesses, NN Group will acquire the non-life business as the new owner of Vivat Schadeverzekeringen.
After adjusting for the transaction, Athora will have approximately €70bn of consolidated assets. Vivat’s approximately 2.2m life policyholders will join Athora’s existing 800,000 policyholders.
Athora’s move gives it a foothold in both life and non-life markets in the Netherlands, enhancing customer offerings and delivering fresh capital to the Dutch insurance market, Athora said. This follows recent acquisitions of the insurance businesses of Generali in Belgium, Aegon in Ireland and Delta Lloyd in Germany.
Michele Bareggi, CEO of Athora, said: “New product introductions, competitive pricing and a renewed focus on a broad spectrum of customer services will be part of our offering.”
Athora, Vivat, NN Group, Netherlands