Logo

6 Apr 2017 - 17:45 CET

NN Group to sell its Luxembourg insurance business to Global Bankers Insurance Group

NN Group and the Global Bankers Insurance Group have reached an agreement on the sale of NN Life Luxembourg to an affiliate of Global Bankers Insurance Group. Established in 1994, NN Life Luxembourg provides life insurance solutions tailored to its customers. The sale is a result of the continuous strategic assessment of NN Group’s portfolio. It will not impact NN Group’s asset management business in Luxembourg.

Global Bankers is an established and growing family of life & annuity insurance and reinsurance companies with operations around the world. The group is based in the USA and has been pursuing an expansion strategy to establish a long-term presence in select European markets. Global Bankers represents the insurance division of Eli Global, LLC, a unique federation of autonomous businesses involved in various industries across the globe, including healthcare and financial services.

The transaction is subject to regulatory approval, and is expected to close in the second half of 2017.

The transaction is not expected to have a material impact on the capital position and operating result of NN Group.



  • NN Group profile



    NN Group is an international insurance and asset management company, active in 18 countries, with a strong presence in a number of European countries and Japan. With around 11,500 employees the group offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group includes Nationale-Nederlanden, NN and NN Investment Partners. NN Group is listed on Euronext Amsterdam (NN).
  • Important legal information

    All figures in this document are unaudited. Small differences are possible in the tables due to rounding. 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, (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, (13) changes in the policies 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 and (18) the other risks and uncertainties detailed in the Risk Factors section 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.

Press enquiries NN Group

Daphne Andriesse

T +31 (0) 6 83 641 626

Send message

Investor enquiries NN Group

Investor Relations

T +31 88 663 5464

Send message