PC Uitvaart transfers insurance portfolio to a.s.r.
a.s.r. and PC Uitvaart have reached agreement on the transfer of most of PC Uitvaart’s funeral insurance portfolio to a.s.r. To cover the insurance liabilities, a.s.r. will receive a single premium. No details will be published on the level of the single premium.
PC Uitvaart was founded in 1931 and has been taking care of funeral arrangements in the north-west Netherlands for more than 85 years. In the future, PC Uitvaart will be focusing more on taking care of funeral arrangements, for which reason it is now transferring most of its insurance portfolio to a.s.r. The insurance portfolio agreed on consists of about 15,000 prepaid insurance policies with an annual premium income of circa € 2 million. The takeover has no material impact on a.s.r.’s result and solvency. a.s.r. intends to transfer this entire portfolio to Ardanta.
Guido Horst, director of Ardanta: ‘The takeover of this portfolio is in line with our ambition to acquire small and medium-sized portfolios by which we can further strengthen our leading position as a funeral insurer. We at Ardanta extend a warm welcome to PC Uitvaart’s customers.’
Jeanine Helthuis, director of PC Uitvaart: ‘In a.s.r., we are happy to have found a solid partner to whom we can transfer our insurance portfolio. We are convinced that our customers’ interests and the quality of the services to our customers are safeguarded. Naturally, our insured can continue to rely on PC Uitvaart’s excellent funeral services.’
The transaction takes place subject to approval by the regulator, the Dutch Central Bank.