NN Group completes acquisition of majority stake in Dutch insurance broker Heinenoord

19 October 2021 — Andrei Victor
NN Group announced the completion of its acquisition of a 70% stake in Dutch insurance broker and service provider Heinenoord.

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", as NN officials pointed out in a statment.

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