Athora and NN Group receive declarations of no objection from DNB for VIVAT Acquisition

AMSTELVEEN, Netherlands - Athora Holding Ltd. (“Athora”), an insurance and reinsurance group focused on Europe, announces that it has received the requisite Declaration of No-Objection (“DNO”) from De Nederlandsche Bank (“DNB”) for its acquisition of VIVAT N.V. (“VIVAT”) from Anbang Group Holdings Co. Limited (the “Transaction”). This means that final closing of the Transaction is expected in early April 2020 (“Closing”). NN Group (“NN”) has also received a DNO from DNB in relation to its follow-on acquisition of VIVAT Schadeverzekeringen N.V. (“VIVAT Non-Life”). 

Michele Bareggi, CEO of Athora, states: “Receiving the DNO from DNB is a landmark moment for Athora, as it is the key regulatory approval needed to complete the acquisition of VIVAT in partnership with NN. VIVAT is a transformational acquisition for Athora, supporting its long-term strategy in the Dutch insurance market, with attractive capabilities, scale and a leading product offering in the Dutch life and pensions markets.”

All current and future insurance policies from VIVAT’s subsidiaries will stay in the Netherlands and remain under Dutch regulation. The Transaction is expected to complete in early April 2020 when Athora will acquire the entirety of VIVAT from Anbang Group Holdings Co. Limited. In a back-to-back transaction on the same day, Athora will sell 100% of the shares in VIVAT Non-Life to NN. Best in class service levels for customers, brokers and partners will continue to be supported by VIVAT and NN‘s strong expertise and track record.

Athora Media Contacts

The Netherlands:

Confidant Partner
Sabine Post-de Jong: + 31 6 39 57 63 67
sabine.post@confidantpartners.com

Other Markets:

Kate Campbell
Group Head of Corporate Affairs: +353 1 688 0357
kate.campbell@athora.com

Sean Carolan
Director of Communications: +353 1 588 0748
sean.carolan@athora.com