NN Group agrees to sell former MetLife pension business in Poland to Generali
NN Group announces today that it has reached an agreement with Generali to sell the former MetLife pension business in Poland.
The pension business is part of the former MetLife activities in Poland that were acquired by NN Group in April 2022. The business has approximately EUR 2.4 billion of assets under management.
The decision to divest was made following a review of NN’s strategic options for the former MetLife pension business in Poland. The transaction does not impact the existing pension business of Nationale-Nederlanden Poland, which remains a market leader in the Polish pension market.
The sale is expected to have an immaterial impact on NN Group’s operating capital generation and operating result.
The transaction is subject to customary closing conditions and is expected to close ultimately in the first quarter of 2023.
For further information on NN Group, please visit www.nn-group.com.
About NN Group
NN Group is an international financial services company, active in 11 countries, with a strong presence in a number of European countries and Japan. With all its employees, the Group provides retirement services, pensions, insurance, banking and investments to approximately 18 million customers. NN Group includes Nationale-Nederlanden, NN, ABN AMRO Insurance, Movir, AZL, BeFrank, OHRA and Woonnu. NN Group is listed on Euronext Amsterdam (NN)
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