ASR acquires Facultatieve funeral insurance portfolio
ASR will take over the insurance portfolio of the Facultatieve Group per 1 March 2013. The portfolio consists of 70,000 funeral policies worth € 100 million insured capital.
The funeral policies will be part of ASR Levensverzekering N.V. Philippe Wits, director of Funeral Insurance: ‘ASR has the ambition to further improve its position in the funeral insurance market. Taking over this healthy insurance portfolio offers us advantages in terms of synergy, and additionally, a great chance to keep growing.’ A small part of the insurance portfolio consists of French insurance policies. These will be sold to a third party.
With the sale, the Facultatieve Group ceases its insurance activities, to focus its attention on core activities, such as the exploitation of crematoria. The Facultatieve is also global market leader in the field of construction of cremation ovens. Henry Keizer, CEO of the Facultatieve Group: ‘Due to current market conditions and changing demands, for example with regards to monitoring and reporting, the insurance business demands more and more management attention. Our main interest was making sure the rights of insured customers are continued. We have full confidence in ASR.’