news and press News asr neemt Veherex over
News Utrecht 23 August 2019 07:00 EU/Amsterdam

a.s.r. acquires Veherex 

ASR Nederland N.V. (a.s.r.) and Veherex have agreed that a.s.r. will acquire Veherex. Veherex has a portfolio with 35,000 policyholders. With this acquisition, a.s.r. will expand its market position in the field of disability insurance and strengthens its leading role as a provider of integrated sustainable employability solutions.

Veherex provides disability insurance for companies and their employees. Its customers are mainly active in the rail and public transport sectors. Its portfolio also includes affiliated companies, such as an engineering firm extending their service to these sectors. Veherex’s portfolio will be integrated into the Loyalis label.

In 2018, Veherex recorded € 15 million in gross written premiums and the net result amounted to€ 1.4 million. At the end of 2018, Veherex’s Solvency II ratio amounted to 150%. Veherex has 17 companies as customers, including NS (the Dutch railways).

Jos Baeten, CEO of a.s.r.: ‘This acquisition fits well within a.s.r.’s acquisition strategy and ambition to play a leading role in the field of sustainable employability. The acquisition of Veherex’s portfolio strengthens a.s.r.’s market position whilst offering us opportunities for further growth in new segments. We intend to integrate Veherex within Loyalis thereby leveraging their unique experience in servicing semi-public organisations and offering customer tailored propositions. We are looking forward to continuing the commercial collaboration with the existing customers of Veherex for the long term.’ 

The acquisition meets the strict financial criteria set by a.s.r. to acquisitions and will take place subject to the approval of the Dutch Central Bank. a.s.r.’s works council has issued a positive advice on the acquisition.