ASR Nederland N.V. (a.s.r.) has completed the acquisition of Loyalis. All the conditions set to the acquisition have been met, such as the declaration of no objection from the Dutch Central Bank and the approval of the Netherlands Authority for Consumers & Markets. The works councils of a.s.r. and APG have issued a positive advice.
a.s.r., Loyalis and APG announced last December that a.s.r. acquired Loyalis. Loyalis’ Non-life insurance business will remain in Heerlen and continue to offer products under the name Loyalis. a.s.r. intends to expand Loyalis further as a specialist income insurer. Customers of Loyalis will get access to additional services in the field of sustainable employability through a.s.r.’s knowledge and partnerships in the areas of vitality, prevention and reintegration guidance. In the future, a.s.r. will also continue to collaborate with APG in the areas of knowledge sharing, product development and customer services. a.s.r. has meanwhile started the preparations for the integration of Loyalis’ Life activities. The full integration will be on a phased basis and is expected to be completed by 2020 at the latest.
Jos Baeten, CEO a.s.r.: “This acquisition in is line with the core of our strategy. With the De Amersfoortse brand, a.s.r. plays a leading role in the field of disability insurance, with a focus on sustainable employability. The acquisition of the complementary portfolio of Loyalis strengthens a.s.r.’s market position and offers new opportunities for further growth in new segments. Customers of Loyalis can be assured that the services and the solid business operations will continue unabated and I welcome the Loyalis colleagues to a.s.r.”
Gerard van Olphen, chairman of APG Group: “With the completion of the acquisition of Loyalis by a.s.r., a new phase has begun. Both for everyone at Loyalis and for us. We have mixed feelings about this disposal. On the one hand because we have worked together well for many years and in a pleasant atmosphere; on the other hand because it is a deliberate strategic choice to sell Loyalis. APG will be focusing more on its primary tasks such as pension administration and asset management for our pension funds. With the transition to a.s.r., the continuity and certainty for customers of Loyalis has been safeguarded. Through a partnership agreement we continue to be connected with a.s.r. and Loyalis and we are looking forward to this collaboration. We thank everybody at Loyalis for their efforts over the past years and wish them success in the future.”