news and press Press releases a.s.r. gets the green light for combination with Aegon Nederland
Press Utrecht 04 July 2023 08:00 EU/Amsterdam

a.s.r. gets the green light for combination with Aegon Nederland

ASR Nederland N.V. (a.s.r.) meets all the conditions set for the transaction to combine business activities of a.s.r. and Aegon Nederland. The Consumer & Market Authority has approved the new combination and the Dutch Central Bank and the European Central Bank have also issued a statement of no objection. The works councils of a.s.r. and Aegon N.V. (Aegon) had previously issued a positive opinion. Now that the transaction has been finalised, a.s.r. will start combining operations.

Flags a.s.r. and Aegon NL

a.s.r. and Aegon announced last October the new combination of a.s.r. and Aegon Nederland. The transaction includes all of Aegon Nederlands’ insurance operations, including all of its insurance, pensions, mortgages, distribution and services businesses and banking operations. The integration of the various businesses will be phased and carried out with the utmost care for all parties involved. It is expected to be completed by 2026 at the latest.

Jos Baeten, CEO of a.s.r.: ‘Today marks a historic moment in the history of a.s.r. and Aegon Nederland. Now that all the formalities are behind us, we will start combining the organisations, that’s quite a job. Not only are we going to merge the activities, we’re also going to bring together two cultures, ultimately creating one winning culture in which the employees of both companies recognise themselves and feel at home. We will go from two strong reputable companies, to one a.s.r., committed to all 6.5 million clients, advisors, investors and society, in which I have full confidence. I thank the teams at Aegon Group, Aegon Nederland and a.s.r., who have worked together to ensure a successful closing’. 

As agreed at the January 17, 2023 EGM, with the completion of the transaction, the Supervisory Board (SB) of a.s.r., with the appointment of Daniëlle Jansen Heijtmajer and Lard Friese, has been expanded from 5 to 7 members. Now that the transaction is a fact, the new governance structure announced in June 2023 is also effective. 

The relationship agreement has been amended so that two matters now require unanimous Supervisory Board approval. These relate to the succession of our CEO Jos Baeten, in case he steps down before the end of his current term, and material decisions on capital management which would lead to a change in the risk profile. The rest of the agreement remains unchanged. The relationship agreement is available on the website.

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