APG focusses on realization of pension value for participants
ASR Nederland N.V. (a.s.r.) and APG have reached an agreement that a.s.r. will acquire insurance subsidiary Loyalis from pension provider APG. The intended sale of Loyalis fits in APG's strategy to focus primarily on the realization of pension value for participants of pension funds operated by APG. The sale to a.s.r. offers Loyalis a new home with a reputable insurer and with it the possibility to further increase its scale and realize a broader product range. In order to guarantee the continuity of service to customers, long-term agreements have been made between APG and a.s.r. As a result, customers continue to receive the services as they are accustomed to from Loyalis. It has also been agreed that the non-life insurance company and the related staff services of Loyalis will remain in Heerlen.
A.s.r. reports: “The name and brand Loyalis will continue to exist. The Loyalis office will remain in Heerlen. From here, the disability business of Loyalis will continue to operate and continue the collaboration with APG for the benefit of knowledge sharing, product development and customer service. The life and pension activities of Loyalis are expected to be integrated into a.s.r. a.s.r. together with APG, it intends to compensate for possible loss of jobs as much as possible within the activities in Heerlen and by filling vacancies at a.sr. and APG. "
Gerard van Olphen, CEO of the APG Group, says he is pleased that Loyalis will be acquired by a.s.r.: "With a.s.r., Loyalis is offered the opportunity to strengthen its future in the insurance market. a.s.r. is a large Dutch party that offers continuity and security for Loyalis customers in the longer term. APG can now focus more on its primary tasks in the area of pension administration and asset management of the pension funds that are connected to us. APG remains connected to Loyalis through a cooperation agreement with a.s.r. We want to thank everyone at Loyalis for their dedication. With their expertise and commitment, they have made Loyalis what it is today: a strong and beautiful insurance company with unique products. We wish our people every success in the future, and we look forward to the continuation of our cooperation ".
Peter van Wageningen, CEO of Loyalis: "I am happy with the new perspective for Loyalis. I want to thank our people for their efforts in the past period. Thanks to their enthusiasm and commitment, Loyalis has grown into a strong and solid company. With our new shareholder we can continue to work on the further development of our products, services and customer service. By completing the sales process, we can fully focus on working with our customers and expanding our market position."
The final completion of the acquisition is subject to approval by the official authorities. Furthermore, the Works Council of APG will be given the opportunity to render advice with respect to the Transaction. Naturally, employee participation is fully informed and closely involved in the process.