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. Athora is an insurance and reinsurance group fully focused on the European market. Together with Athora we will work towards the completion of the transaction.’ Today’s DNB approval follows the clearance from the Dutch Authority for Consumers and Markets (ACM) for the acquisition of VIVAT Non-life by NN Group, received on 18 November 2019.
Anbang’s other holdings in Europe include Dutch insurer Vivat and Belgian lender Nagelmackers. The Athora group employs some 800 staff and has more than 800,000 policyholders for total consolidated assets of approximately € 15 billion. Lard Friese, CEO of NN Group: 'We are pleased that together with Athora, we can offer VIVAT stakeholders a clear path for the future. Athora Completes the Acquisition of VIVAT 02/04/2020 - Today, Athora announced that it has completed its acquisition of VIVAT by acquiring 100% of the shares from Anbang. Published on … Athora, NN Group buy Dutch insurer Vivat's operations. 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 … We dedicate our focus, capital, time and technical insights to offering our customers a stable, long-term performance on our products. The transaction is expected to close in early April 2020. The Chinese firm had previously considered pursuing a sale of Vivat …
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.
Athora to acquire VIVAT and retain the life and asset management businesses. NN Group will also buy a portfolio of loans from Vivat for 150 million euros, NN Group said. The insurer, known from, among others, the Zwitserleven and Reaal brands, has been put on display by the Chinese parent company Anbang. David Knibbe, CEO NN Group: ‘This is an important milestone for NN Group.
At least five private equity parties are interested in the acquisition of the Dutch insurance company Vivat, Het Financieele Dagblad ( FD) reports on Monday on the basis of insiders. Additionally, together with Athora and NN Group, VIVAT will work towards a smooth integration of VIVAT Non-life into NN in the coming period.” After Closing, VIVAT will remain a Dutch-regulated entity, its insurance policies will stay in the Netherlands. Athora, which is part-owned by buyout firm Apollo Global Management, buys assets that may be non-core to their owners and aims to manage them more efficiently. NN Group, Athora to buy Dutch insurer Vivat from Chinese owner Anbang Παρασκευή, 07 Ιουνίου 2019 16:47 NN Group will acquire Vivat's non-life business (Vivat Schadeverzekeringen NV) for a consideration of €416 million, following the closing of the acquisition by Athora. On 7 June 2019, Athora announced the acquisition of leading Dutch insurance holding company VIVAT N.V. For further information, go to: www.athora.com. AMSTERDAM, June 7 (Reuters) - Dutch insurer Vivat said on Friday it had agreed to a buyout deal with private European life insurer Athora. Dutch insurer Vivat said on Friday it had agreed to a buyout deal with private life insurer Athora.
Related Articles Dutch insurance company Vivat has been sold for more than €1 billion to two financial groups: Dutch counterpart NN Group and Athora, a pan-European specialised insurance company.