Utrecht,
06
February
2018
|
07:14
Europe/Amsterdam

a.s.r. completes acquisition of Generali Nederland

Summary

ASR Nederland N.V. (a.s.r.) today announces the completion of its acquisition of Generali Nederland. It has now fulfilled all the conditions required, including obtaining a declaration of no-objection from the Dutch central bank and approval from the Netherlands Authority for Consumers & Markets. The Works Councils of both a.s.r. and Generali Nederland both already issued a positive advice on the proposed acquisition. Now that the process has been completed, a.s.r. will begin integrating the activities of Generali Nederland into its own operations.

Generali Nederland to be integrated into a.s.r.
a.s.r. and Generali Nederland announced the acquisition last September. The full integration of Generali Nederland’s activities into a.s.r. will take place in phases and is likely to be completed by 2020 at the latest. Generali Nederland staff will move to a.s.r. locations in the course of 2018. The Generali Nederland products will be rebranded into a.s.r. or one of a.s.r.’s labels in due course. Generali Nederland’s customers can rely on the continuation of the service they are used to.

a.s.r. CEO Jos Baeten: “This acquisition further strengthens our position on the Dutch insurance market. The acquisition of Generali Nederland ties in with a.s.r.’s strategy of combining organic growth and growth through targeted acquisitions. The integration of Generali Nederland will be handled with the greatest possible care for all parties. Customers of Generali Nederland can be confident that they will get the best possible service from a.s.r.”

About Generali Nederland
Generali Nederland, which has been active in the Netherlands for over 145 years, employs approximately 350 staff. The company sells a wide range of non-life and life insurance products, and in 2016 posted a turnover of € 379 million euros (€ 275 million in non-life insurance and € 104 million in life insurance).