NN Group announces today that the long-term partnership between NN Investment Partners (NN IP) and ING Bank Śląski S.A. in Poland has been formalised.
Under this partnership, which was announced on 18 December 2018, ING Bank Śląski has acquired a 45% stake in NN IP in Poland and will distribute NN funds to the Polish retail market through its extensive branch network.
The transaction is not expected to have a material impact on the operating result and Solvency II ratio of NN Group.
-
NN Group is an international financial services company, active in 20 countries, with a strong presence in a number of European countries and Japan. With all its employees, the Group provides retirement services, pensions, insurance, investments and banking to approximately 17 million customers. NN Group includes Nationale-Nederlanden, NN, NN Investment Partners, ABN AMRO Insurance, Movir, AZL, BeFrank and OHRA. NN Group is listed on Euronext Amsterdam (NN).
-
NN Investment Partners TFI S.A. in Poland (NN IP Poland) is part of NN Investment Partners, an international asset management company and a subsidiary of NN Group. Present on the Polish market since 1997, NN IP Poland has EUR 4.1 billion (at current exchange rates) of assets under management. Its core activities are the management and administration of investment funds, institutional portfolios and third pillar pension programmes (PPE, IKE, IKZE). The company is licenced and regulated by the Polish Financial Market Authority (KNF).
-
Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group’s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro or European Union countries leaving the European Union, (4) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in investor, customer and policyholder behaviour, (11) changes in general competitive factors, (12) changes in laws and regulations and the interpretation and 31/07/2019 Press release 2 application thereof, (13) changes in the policies and actions of governments and/or regulatory authorities, (14) conclusions with regard to accounting assumptions and methodologies, (15) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (16) changes in credit and financial strength ratings, (17) NN Group’s ability to achieve projected operational synergies, (18) catastrophes and terrorist-related events, (19) adverse developments in legal and other proceedings and (20) the other risks and uncertainties contained in recent public disclosures made by NN Group. Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.
This document does not constitute an offer to sell, or a solicitation of an offer to buy any securities.
