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NN Group

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NN Group
Company typePublic
IndustryInsurance
Asset Management
Banking
Founded1963
HeadquartersThe Hague, Netherlands
ProductsAsset Management
Life Insurance
Property insurance
Casualty insurance
Mortgages
Revenue€5.6 billion
€1.4 billion
Websitewww.nn-group.com
www.nn.nl

NN Group is the parent company of Nationale-Nederlanden (NN) Dutch pronunciation: [nɑ(t)ʃionaːlə neːdərlɑnde(n)], one of the largest insurance companies in the Netherlands. The company is headquartered in The Hague and Rotterdam. The Rotterdam headquarters are located in the skyscraper Gebouw Delftse Poort, which was the tallest skyscraper in the Netherlands until 2009. Aside from these two offices, the company has an office in Ede (former RVS) but no other main offices in the Netherlands, instead NN mainly relies on independent intermediaries for selling insurance.

Nationale-Nederlanden is the former sponsor of the Dutch national football team and the current sponsor of the Rotterdam Marathon and the City Pier City Marathon (The Hague).

History

The company was formed in a merger in 1962 between the Assurantie Maatschappij tegen Brandschade De Nederlanden van 1845 (Fire insurance Company The Netherlands) and the Nationale Levensverzekeringsbank (National Life Insurance Bank). This merger was deemed necessary due to falling market share and threat of takeovers. In 1991 NN merged, this time, with the NMB Postbank Groep, to form the ING Group. Aside from insurance, the company also offers some banking products such as mortgages.

NN Group

During the financial crisis of 2007–2008, ING Group received financial support from the Dutch State. As part of the support deal, ING Group was mandated to split off all insurance activity. In 2013, a new company, NN Group, was formed, which became the parent of all insurance activity, including Nationale-Nederlanden. In 2014, NN Group was listed on the Euronext Amsterdam stock exchange in an IPO.[1] The split from ING Group was finished in 2016, when it sold all remaining stock in NN Group.

See also

References

  1. ^ http://www.ing.com/Newsroom/All-news/Press-releases/PROld/ING-announces-rebranding-of-ING-Insurance-operations-to-NN-1.htm
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