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22
April
2022
|
19:14
Europe/Amsterdam

NN Group completes the acquisition of MetLife's businesses in Poland and Greece

Summary
Today NN Group (NN) announces that it has received approval from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, KNF) with regard to the acquisition of MetLife's business activities in Poland.

Today NN Group announces the completion of the acquisition of MetLife’s businesses in Poland, following the approval obtained by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, KNF) on 14 April 2022. NN Group completed the acquisition of MetLife’s businesses in Greece on 31 January 2022.

David Knibbe, CEO of NN Group: ‘Today we have achieved an important milestone for NN in Poland and Greece, as this transaction strengthens our positions in these attractive growth markets. In the coming months, we will integrate MetLife’s businesses into the local NN organisations. While combining the strengths of the two companies, we are committed to respecting the talents and experience of employees in both organisations and applying a fair and transparent approach. During this process, we will continue to focus on delivering an excellent service to our customers and improving the performance of the combined company, by capturing the opportunities of these markets and realising the expected synergy benefits. We welcome MetLife Poland and Greece’s employees, customers and partners and look forward to a successful joint future.’

CEO Nationale-Nederlanden Poland, Paweł Kacprzyk: ‘Today we start our journey towards building together our new, combined company, with a stronger position in life insurance in the Polish market and an expanded distribution network. I am excited and committed to realise the integration guided by our values, ‘care, clear, commit’, while keeping our focus on our customers and the Polish communities’.

As the acquisition of MetLife’s businesses in Greece was completed on 31 January 2022, NN Hellas has already started the integration, while continuing to focus on the needs of our customers and colleagues.

Chairperson and CEO of NN Hellas, Marianna Politopoulou: ‘Since the end of January we have begun the integration process. The acquisition will enable us to enrich our product and service offering and diversify our distribution platform. Having carefully prepared our plan, we are working together to implement the merger of the two companies, with the aim of creating the market leading insurance company in Greece’.

For further information on NN Group, please visit www.nn-group.com.

  • 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).

  • 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) the effects of the Covid-19 pandemic and related response measures, including lockdowns and travel restrictions, on economic conditions in countries in which NN Group operates, on NN Group’s business and operations and on NN Group’s employees, customers and counterparties (3) changes in performance of financial markets, including developing markets, (4) consequences of a potential (partial) break-up of the euro or European Union countries leaving the European Union, (5) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (6) the frequency and severity of insured loss events, (7) changes affecting mortality and morbidity levels and trends, (8) changes affecting persistency levels, (9) changes affecting interest rate levels, (10) changes affecting currency exchange rates, (11) changes in investor, customer and policyholder behaviour, (12) changes in general competitive factors, (13) changes in laws and regulations and the interpretation and application thereof, (14) changes in the policies and actions of governments and/or regulatory authorities, (15) conclusions with regard to accounting assumptions and methodologies, (16) changes in ownership that could affect the future availability to NN Group of net operating loss, net capital and built-in loss carry forwards, (17) changes in credit and financial strength ratings, (18) NN Group’s ability to achieve projected operational synergies, (19) catastrophes and terrorist-related events, (20) adverse developments in legal and other proceedings and (21) 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.

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