NIVO Uitvaartverzekeringen transfers insurance portfolio to a.s.r.
a.s.r. and NIVO Uitvaartverzekeringen N.V. have reached an agreement regarding the transfer of NIVO’s insurance portfolio to a.s.r. It is a.s.r.’s intention to eventually transfer this portfolio in full to Ardanta.
NIVO Uitvaartverzekeringen is located in Mijdrecht, The Netherlands and was founded in 1981 as a subsidiary of Amsterdam-based Uitvaartcentrum Zuid, which is the Netherlands’ largest privately-owned funeral services company.
The insurance portfolio of NIVO Uitvaartverzekeringen is comprised of 286,000 policies, including both endowment and benefits-in-kind insurance. Premium revenue amounted to € 24.4 million in 2014.
Bert van Eenennaam, Director of NIVO Uitvaartverzekeringen: ‘We are delighted to have found a solid partner in a.s.r. to whom we can transfer our insurance portfolio. We are confident that the quality of our services will be safeguarded with Ardanta.’
Karin Bergstein, Member of the Executive Board of a.s.r.: ‘In order to achieve a.s.r.’s ambitions in the field of life insurance and pensions, we are continually looking for opportunities that arise in the market to further strengthen our position. The transfer of this insurance portfolio fits in perfectly with our strategy.’
The transaction is being carried out subject to regulatory approval.