Following regulatory approval, Dutch insurer NN Group has completed the integration of VIVAT Non-life into its non-life business unit.
NN Group acquired the VIVAT Non-life business as part of a larger transaction that saw Athora purchase VIVAT N.V. from China’s Anbang Group.
First announced in June 2019, the deal signalled Athora’s entry into the Dutch marketplace.
Now, NN Group has obtained approval from De Nederlandsche Bank (DNB), the Dutch supervisory authority, to execute the legal merger of the acquired VIVAT business into its non-life arm.
As a result of this, VIVAT Non-life ceased to exist and NN Non-life assumed all assets and liabilities of VIVAT Non-life.
The legal merger was executed on 31 December 2020 and became legally effective on 1 January 2021.
NN Group is an international financial services company, active in 18 countries, with a strong presence in a number of European countries and Japan.
The Group provides retirement services, pensions, insurance, investments and banking to approximately 18 million customers.