NN Group completes acquisition of majority stake in Dutch insurance broker Heinenoord
NN Group completes acquisition of majority stake in Dutch insurance broker Heinenoord
Today NN Group announces the completion of its acquisition of a 70% stake in Dutch insurance broker and service provider Heinenoord, as per 14 October.
The completion of the transaction follows the fulfilment of customary closing conditions, including receipt of all necessary regulatory approvals.
The acquisition, which was announced on 8 July 2021, is funded from existing cash resources and will strengthen our distribution capabilities, and reinforce our leading position in the Dutch non-life market.
The transaction, including the option on the remaining shares, has a negative impact on the NN Group Solvency II ratio of approximately 4%-points.