NN Group completes acquisition of AEGON units in Czech Rep. and Slovakia
"The transaction, which was announced on 16 August 2018, is funded from existing cash resources and will not have a material impact on the operating result and Solvency II ratio of NN Group".
At that time, NN Group said that it agreed to acquire AEGON's units for a total consideration of EUR 155 million.
NN Group has been active in the Czech life insurance market since 1992. It currently has a number four position in life insurance (based on GWP) and a number seven position in pensions (based on AuM).
In Slovakia, NN Group has been active in the life insurance market since 1996 and currently has a number seven position in that market. It also has a very strong position in pensions being the number one voluntary pension provider in Pillar 3 and the number four mandatory pension provider in Pillar 2. NN's Czech and Slovakian businesses serve more than 1 million customers and have high-quality tied agent networks.