Dutch insurer acquires AM offering

Dutch insurer a.s.r. has announced the acquisition of BNG Vermogensbeheer, the asset management division of BNG Bank, in a bid to strengthen its client base in the public and pensions sector.

BNG Vermogensbeheer currently manages €5bn on behalf of lower-tier authorities, health care educational institutions, universities, network companies, housing associations, charitable trusts and capital funds, industrial pension funds and medical insurers.

a.s.r. CFO Chris Figee comments on the acquisition: ‘The services and staff of BNG Vermogensbeheer are a welcome addition to our existing product palette and organisation, and will substantially speed up progress toward our growth goals. We aim to be a major player on the Dutch market for asset management, and warmly welcome the employees of Vermogensbeheer to the a.s.r. family.’

Jack Julicher, a.s.r. CIO: ‘The merger of BNG Vermogensbeheer and a.s.r. will create a strong asset manager for institutional clients with a balanced risk-return ratio and a firm commitment to sustainability.’

John Reichardt, CFO of BNG Bank, added: ‘BNG Bank is a committed partner and financier of the public sector. Asset management is however no longer a core activity of the bank, so we are delighted to have found in a.s.r. a strong party who will give BNG Vermogensbeheer the opportunity to apply its expertise to a broader target group.”

The transaction is due to be completed in the second quarter of 2015, subject to regulatory approval.

Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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