Reinsurance News
NN Group
NN Group gets €13bn longevity risk transfer with Prudential and Swiss Re
20th December 2023
NN Group through its subsidiary NN Life has completed two transactions to transfer the full longevity risk associated with approximately €13 billion of pension liabilities in the Netherlands, to Prudential Insurance Company of America (Prudential) and global reinsurer Swiss Re. The transactions cover the longevity risk of approximately 300 thousand policies, ... Read the full article
NN’s ratings unaffected by unit-linked Dutch court ruling: Fitch
23rd October 2023
According to Fitch Ratings, last month’s interim judgement delivered by the Dutch Court of Appeal in respect of certain unit-linked insurance policies, will not impact the ratings of either Nationale-Nederlanden Levensverzekering Maatschappij N.V., which sold the policies in the 1990s and early 2000s, or the wider NN Group N.V. (NN). Fitch ... Read the full article
NN Group scales up net-zero efforts with Climate Action Plan
22nd December 2022
Dutch insurer NN Group, has published a Climate Action Plan which sets out a roadmap to reduce greenhouse gas (GHG) emissions to net-zero in its own operations by 2040, as well as in its investments and insurance underwriting by 2050. The plan also includes a further tightening of NN’s investment policies ... Read the full article
NN Group and ABN AMRO Bank sell off life insurance subsidiary
15th February 2022
NN Group, ABN AMRO Bank, and their joint venture ABN AMRO Verzekeringen (AAV) are to sell AAV’s life insurance subsidiary to Nationale-Nederlanden Levensverzekering Maatschappij N.V. (NN Life & Pensions). The subsidiary will be integrated into NN Life & Pensions. The intended transaction will have no impact on the services and guarantees ... Read the full article
NN Group makes takeover bid for MetLife business in Europe
28th June 2021
Dutch insurer NN Group has confirmed that it has put forward an offer to acquire part of MetLife’s businesses in Europe. The company says that such an acquisition would be an opportunity to consolidate its positions in these markets, which are considered to have attractive growth potential. Neither NN Group or MetLife ... Read the full article
NN Group completes integration of VIVAT non-life business
4th January 2021
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 ... Read the full article
NN Group anticipates €100mn COVID-19 impact to 2020 results
24th June 2020
Dutch insurer NN Group has said that it is anticipating a €100 million impact to its 2020 operating result due to the COVID-19 pandemic. The company stated ahead of its investor day that the impact of the pandemic on claims has been limited so far, due to its limited exposure to ... Read the full article
Hedge fund investor Elliott calls on NN Group to reset trajectory
12th June 2020
Elliott Advisors (UK) Limited has released a statement criticising the market valuation and management of NN Group N.V., which Elliott holds a 3% stake in. The firm said that NN Group’s underlying value has “been obscured” and is not properly reflected in its current share price, adding that “NN Group itself ... Read the full article
NN Life transfers €13.5bn of longevity risk to Canada Life, Munich Re & Swiss Re
19th May 2020
A subsidiary of NN Group, NN Life, has completed three longevity reinsurance transactions with reinsurers Canada Life, Munich Re, and Swiss Re, transferring the full longevity risk associated with €13.5 billion (USD 14.8 billion) of pension liabilities in the Netherlands. The arrangements cover the risks associated with the policies of more ... Read the full article
Athora completes VIVAT acquisition & sale of non-life segment to NN Group
3rd April 2020
European life insurance and reinsurance group, Athora Holding, Ltd., has announced the completion of its previously announced acquisition of VIVAT N.V. from Anbang Group Holdings Co Limited, while NN Group has taken control of VIVAT Schadeverzekeringen N.V., VIVAT's non-life operation. The transaction was announced back in June of 2019 and ... Read the full article
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