Athora expands Belgian presence with acquisition

Athora Holding, a life insurance and reinsurance group focused on the European market, has expanded its presence in the Belgian life insurance sector with the acquisition of a closed-book life insurance portfolio from NN Insurance.

Athora now has more than 3 million customers, €96 billion in pro forma consolidated Assets under Administration, over 2,000 employees and operations in five European countries.

The transaction is in line with Athora’s growth strategy focused on traditional life savings and retirement products in the European market.

Eric Viet (pictured), regional CEO at Athora, said, “Athora Belgium is focused on life savings and investment insurances in the Belgian market. The transaction marks its first portfolio acquisition since being acquired by Athora in January 2019, providing additional scale for Athora Belgium and increasing its assets under administration from €8.7 billion as at end December 2021 to approximately €11.4 billion, demonstrating Athora’s strategy and ability to combine consolidation and organic growth.”

Dorsan van Hecke, CEO at Athora Belgium added: “Today marks an important milestone for Athora Belgium. The transaction covers more than 200,000 new policies and we welcome our policyholders and the 24 new employees to our business. We look forward to working with our new colleagues and offering our new customers a stable and long-term performance on their savings and retirement products.”

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