NN Group N.V. is the parent company of NN Investment Partners and Nationale-Nederlanden (). Nationale-Nederlanden is one of the largest insurance and asset management companies in the Netherlands. NN Group is headquartered in

The Hague The Hague ( ; nl, Den Haag or ) is a city and municipality of the Netherlands, situated on the west coast facing the North Sea. The Hague is the country's administrative centre and its seat of government, and while the official capital o ...

, its office in

Rotterdam Rotterdam ( , , , lit. ''The Dam on the River Rotte'') is the second largest city and municipality in the Netherlands. It is in the province of South Holland, part of the North Sea mouth of the Rhine–Meuse–Scheldt delta, via the ''"Ne ...

is located in the skyscraper

Gebouw Delftse Poort Delftse Poort ( en, Delft Gate Building) is a twin-tower skyscraper complex at Weena 505 next to the Rotterdam Centraal railway station in Rotterdam, Netherlands. Tower I is with 41 stories, and Tower II is with 25 stories. Until May 2009 ...

, 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. On 23 December 2016, NN Group reached an agreement to acquire competitor

Delta Lloyd Group Delta Lloyd Group was a Dutch insurer with operations in the Netherlands, Belgium and Germany. It consisted of Delta Lloyd, OHRA, ABN AMRO Verzekeringen and a few minor banks. The company was the sixth-largest insurer in the Netherlands, with a ...

for 2.5 billion euro.

History

Nationale-Nederlanden was formed in a merger in 1963 between the ''De Nederlanden van 1845'' (Non-life insurance Company The Netherlands) and the ''Nationale Levensverzekeringsbank'' (National Life Insurance Bank). The result of the merger, because of the strong domestic position of Nationale and the international experience of De Nederlanden, was to set the company up for the future. Emerging computerisation was embraced, and other innovation costs were jointly borne by the combined companies. Cooperation strengthened the companies’ experience in group insurance and allowed Nationale-Nederlanden to expand its territory. In 1991 NN merged, this time, with the NMB Postbank Groep, to form the

ING Group The ING Group ( nl, ING Groep) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale bankin ...

. Aside from insurance and asset management, the company also offers some banking products such as

mortgages A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any ...

NN Group

During the

financial crisis of 2007–2008 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...

received financial support from the Dutch State. As part of the support deal, ING Group was mandated to split off ING Direct USA and all insurance and asset management activities. In 2013, a new company, ''NN Group'', was formed, which became the parent of the European and Japan insurance and asset management activities of ING Group, for example including Nationale-Nederlanden and NN Investment Partners. In 2014, NN Group was listed on the Euronext Amsterdam stock exchange in an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. The split from ING Group was finished in 2016, when it sold all remaining stock in NN Group.

Criticism

In June 2018, the NN Group was criticized by environmental organizations for its investments in tar sands oil companies and pipelines. NN Group reacted by stating that active engagement with the companies delivers more result than divestment from these companies.

References

{{Authority control Insurance companies of the Netherlands ING Group Dutch brands Financial services companies established in 1963 Companies based in The Hague Companies listed on Euronext Amsterdam Dutch companies established in 1963

History

NN Group

Criticism

See also

References