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 ( ) is the capital city of the South Holland province of the Netherlands. With a population of over half a million, it is the third-largest city in the Netherlands. Situated on the west coast facing the North Sea, The Hague is the c ...

, its office in

Rotterdam Rotterdam ( , ; ; ) is the second-largest List of cities in the Netherlands by province, city in the Netherlands after the national capital of Amsterdam. It is in the Provinces of the Netherlands, province of South Holland, part of the North S ...

is located in the

skyscraper A skyscraper is a tall continuously habitable building having multiple floors. Most modern sources define skyscrapers as being at least or in height, though there is no universally accepted definition, other than being very tall high-rise bui ...

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. On 23 December 2016, NN Group reached an agreement to acquire competitor Delta Lloyd Group for 2.5 billion euro. NN has completed the sale of NN Investment Partners to Goldman Sachs for around EUR 1.7 billion in April 2022.

History

Nationale-Nederlanden was formed in a merger in 1963 between the ''De Nederlanden van 1845'' (The Netherlands of 1845) 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 ING Group N.V. () is a Dutch multinational corporation, multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, whol ...

. 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 jurisdictions 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 pur ...

NN Group

During the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

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 Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange (), it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The re ...

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

External links

* * {{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 Companies in the AEX index Dutch companies established in 1963 Asset management companies

History

NN Group

Criticism

See also

References

External links