04 July 2023 | 2 min.

a.s.r. gets the green light for combination with Aegon Nederland

ASR Nederland N.V. (a.s.r.) meets all the conditions set for the transaction to combine business activities of a.s.r. and Aegon Nederland. The Consumer & Market Authority has approved the new combination and the Dutch Central Bank and the European Central Bank have also issued a statement of no objection. The works councils of a.s.r. and Aegon N.V. (Aegon) had previously issued a positive opinion. Now that the transaction has been finalised, a.s.r. will start combining operations.

a.s.r. and Aegon announced last October the new combination of a.s.r. and Aegon Nederland. The transaction includes all of Aegon Nederlands’ insurance operations, including all of its insurance, pensions, mortgages, distribution and services businesses and banking operations. The integration of the various businesses will be phased and carried out with the utmost care for all parties involved. It is expected to be completed by 2026 at the latest.

Jos Baeten, CEO of a.s.r.: ‘Today marks a historic moment in the history of a.s.r. and Aegon Nederland. Now that all the formalities are behind us, we will start combining the organisations, that’s quite a job. Not only are we going to merge the activities, we’re also going to bring together two cultures, ultimately creating one winning culture in which the employees of both companies recognise themselves and feel at home. We will go from two strong reputable companies, to one a.s.r., committed to all 6.5 million clients, advisors, investors and society, in which I have full confidence. I thank the teams at Aegon Group, Aegon Nederland and a.s.r., who have worked together to ensure a successful closing’.

a.s.r. has a 50% interest in joint venture Amvest
With the transaction, a.s.r. has also become the owner of Aegon Nederland's 50% interest in the joint venture Amvest. The other 50% is owned by Pension fund Zorg en Welzijn (PFZW). In Amvest, a.s.r. sees a thriving company that operates at a high standard. In the coming period, a.s.r. will conduct talks with Amvest's management and co-shareholder PFZW.

Services and contact persons remain the same
There are currently no plans for changes in either organisation. The funds will remain independent entities, managed and operated by the same teams. The services provided to you and your contact persons will remain unaltered.

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