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Mar 2020
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Financial Adviser to the Dutch Central Bank
Acquisition of VIVAT by Athora and NN Group

VIVAT, Athora and NN Group

Financial adviser to the Dutch Central Bank

Kempen & Co is pleased to announce its role in the acquisition of VIVAT by Athora and NN Group as sole financial adviser to the Dutch Central Bank

Transaction highlights

  •  VIVAT was acquired by a consortium consisting of Athora and NN Group. Athora to acquire VIVAT and retain the life and asset management businesses. NN Group to acquire the VIVAT non-life business
  • The transaction leads to a stronger proposition in the respective life and non-life insurance markets in the Netherlands, enhancing customer offerings and injecting fresh capital in the Dutch insurance market
  • Kempen & Co acted as sole financial adviser to the Dutch Central Bank (“DNB”) in the sale of VIVAT and supported DNB with independent advice and thorough analyses
  • The transaction is a further testament to Kempen & Co’s leading role in the consolidation of the Dutch insurance sector, with previous involvement in, amongst others, the public offer of NN Group for Delta Lloyd


  • VIVAT is the 4th largest insurer and 2nd largest life insurer in the Netherlands
    - Gross premium income of €2.6bn (end of 2019)
    - Balance sheet total of €62bn (end of 2019)
  • VIVAT’s subsidiaries are active in the Dutch market with brands such as Zwitserleven, Reaal and ACTIAM

About Athora

  • Athora is a specialised (re)insurance group backed by amongst others Apollo, Athene and ADIA 
  • Athora is fully focused on the European market and its principal subsidiaries are Athora Belgium, Athora Lebensversicherung (Germany), Athora Ireland and Athora Life Re (Bermuda)
  • The Athora group has more than 800,000 policyholders for total consolidated assets of approximately €15bn
  • Athora has raised €4bn of committed equity capital since 2018

About NN Group

  • NN Group is a Dutch financial services company, active in 18 countries, with a strong presence in a number of European countries and Japan
  • NN Group includes Nationale-Nederlanden, NN, NN Investment Partners, ABN AMRO Insurance, Movir, AZL, BeFrank and OHRA
  • NN Group is listed on Euronext Amsterdam

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