NN Group today announces an update of the composition of the Management Board (MB) as of 1 June. Bernhard Kaufmann will join the MB as Chief Risk Officer (CRO) of NN Group. Furthermore, given the growth of activities following recent acquisitions in the Netherlands, our Dutch businesses will be divided into two portfolios with separate responsibilities. Leon van Riet will be appointed to the Management Board as CEO Netherlands Life & Pensions. Tjeerd Bosklopper, already a member of the MB, will assume the role of CEO Netherlands Non-life, Banking & Technology.
Bernhard Kaufmann appointed as NN Group CRO
David Knibbe, CEO of NN Group: ‘It is with great pleasure that we announce the appointment of Bernhard as our new Group CRO. With his extensive knowledge and experience in the international insurance sector, Bernhard will further strengthen our risk management capabilities and risk culture, and contribute to running our businesses effectively in the context of Solvency II. I would like to thank Delfin Rueda for temporarily assuming the responsibilities of the CRO portfolio and for his strong contribution to our risk management function over the past few months.’
Bernhard Kaufmann (1969, German) has been CRO at Munich Re for the past six years. Prior to that he held the positions of CRO at Ergo Group, and Head of Treasury and Head of Asset Liability Management at Munich Re. Bernhard was chairman of the CRO Forum in 2017.
Leon van Riet and Tjeerd Bosklopper to steer the Dutch businesses
David Knibbe: ‘Given the increased scale in our home market, dividing the responsibilities for the Dutch businesses helps us to create focus in managing our in-force business, continue to improve operational efficiency, and thereby further strengthen customer relationships. With their proven track records, Leon and Tjeerd are well placed to steer the businesses in the Netherlands towards the future.’
Leon van Riet (1964, Dutch) has been CEO of the NN Netherlands Non-life business since 2017. Before joining NN, he was a member of the Delta Lloyd Executive Board and led the Life business for seven years. In his new role, Leon will be responsible for the Dutch Life and Pension businesses and will be CEO of Nationale-Nederlanden Levensverzekering Maatschappij N.V.
Tjeerd Bosklopper (1975, Dutch) was appointed Chief Transformation Officer and member of the MB on 1 September 2018, before he took on the role of CEO Netherlands on an ad interim basis as of October 2019. In his new role, Tjeerd will be responsible for the Dutch Non-life and Banking business segments, Customer & Commerce, as well as for the Strategic Transformation Office and IT. He will remain responsible for driving innovation and digital transformation in the Netherlands.
All three appointments have been approved by the Dutch Central Bank (DNB).
Well positioned to deliver on strategy and accelerate transformation
David Knibbe: ‘We are confident that, with these appointments, our Management Board is well positioned to lead the company in this fast-paced and dynamic environment. With the new Board composition, we will continue to focus on delivering on our strategic priorities and adding long-term value for our customers, colleagues, shareholders, and for the societies in which we operate.’
Information for editors
High resolution pictures of Bernhard Kaufmann, Leon van Riet and Tjeerd Bosklopper are available for download at www.flickr.com/photos/nn-group/
For further information on NN Group, please visit www.nn-group.com.
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 18 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).
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 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 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 NN Group 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.