NN Group acquired Delta Lloyd
NN Group acquired Delta Lloyd, a 51 percent shareholder in ABN AMRO Verzekeringen (‘AAV’). The remaining shares in AAV are held by ABN AMRO. PhiDelphi advised the management of AAV regarding its position in the acquisition of Delta Lloyd by NN Group and supported management in presenting the company and the equity story to the new shareholders.
AAV (www.abnamro.nl/verzekeringen) is a joint-venture of Delta Lloyd and ABN AMRO that focuses on the provision of insurance products to ABN AMRO Bank clients. AAV serves retail customers with life and non-life insurances. Furthermore, AAV acts as an insurer, advisor and intermediary for third party non-life insurances for SME and corporate clients. In 2016, the company had a gross written premium of over EUR 500 million and employed 513 FTE.
ABN AMRO (www.abnamro.com) is a Dutch bank listed on the Dutch stock exchange. In 2016, the company realised a turnover of EUR 8.2 billion and employed about 21,500 FTE.
Delta Lloyd (www.deltalloyd.nl) is a Dutch insurance company active in the Netherlands, Belgium and Germany. With the shareholding in AAV, Delta Lloyd has the exclusive right to serve ABN AMRO clients. In 2016, Delta Lloyd had a gross written premium of over EUR 3.7 billion and employed 736 FTE.
NN Group (www.nn.nl) is a Dutch financial service provider active in 18 countries and listed on the Dutch stock exchange. In 2016, the company had a gross written premium of over EUR 9.4 billion and employed about 11,500 FTE. Following the acquisition of Delta Lloyd, NN Group is among the top four insurance providers in the Netherlands.