a.s.r. raises overall target for run-rate cost synergies from the transaction with Aegon Nederland to € 215 million
Today, ASR Nederland N.V. (a.s.r.) is hosting an institutional Investor Update. Jos Baeten, CEO at a.s.r., and other members of the Management Board will provide an update on the integration progress of the Aegon Nederland businesses. The primary focus will be on the operational aspects of the integration and a.s.r. will outline an adjusted overall run-rate cost synergy target. The program also includes an update on unit-linked life insurance.
One year ago, a.s.r. announced to create a leading insurer in the Netherlands by combining the businesses of Aegon Nederland and a.s.r. Following the closing of the transaction on 4 July 2023 a.s.r. today provides an update on the integration of the first five months post-closing and its integration plan for the coming years.
Experience to date confirms the significant strategic and financial merits of the business combination. The execution of the integration runs consistently as planned, demonstrating the expertise of a.s.r. built up over the past years. a.s.r. is confident that under the leadership of a strong and experienced team of senior managers it can complete the successful integration of Aegon Nederland before the end of 2026.
a.s.r. expects an overall run-rate cost synergy target of € 215 million, pre-tax (per annum) three years after closing, being € 30 million higher than the initially indicated target of € 185 million as announced on 27 October 2022. At the Investor Update a.s.r. will outline the drivers and timing of the expected cost synergies. a.s.r. will also provide an update on its implementation of the partial internal model. June next year, a.s.r. will host a Capital Markets Day at which it will provide an update on the strategy of the combined businesses, including new medium term targets and an updated capital management policy.
The Investor Update will start at 11.15 CET and will conclude at approximately 16.00 CET, including QA. The presentation can be viewed live via webcast via this link. A replay of the webcast will be available after the event. All materials presented at the Investor Update are available online at www.asrnl.com/investor-relations/investor-update.
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2 May 2024Equal Pay for Men and Women at a.s.r.: No Gender Pay GapAccording to the annual Gender Pay Gap analysis, a.s.r. ensures equal pay for men and women performing equivalent work. This commitment to gender equality is reflected in the fact that there is no pay gap between male and female employees at a.s.r. In contrast, the average Dutch business had a pay gap of 6.9% in 2022. It is the first time that this analysis has been conducted since the integration of Aegon Nederland.
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25 Apr 2024a.s.r. joins Forum for Insurance Transition to Net-Zero (FIT)a.s.r. has joined the Forum for Insurance Transition to Net-Zero (FIT), a new initiative launched by the United Nations Environment Programme (UNEP). A total of 19 insurers and reinsurers worldwide have joined this initiative. FIT builds upon the efforts of the Net-Zero Insurance Alliance (NZIA). It provides a broader platform for collaboration and innovation and a.s.r. is one of the three Dutch insurers actively participating. a.s.r. hereby reaffirms its commitment to a sustainable and climate-neutral insurance sector.
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18 Apr 2024500 a.s.r. employees roll up their sleeves on first “Doenkracht Donderdag”Across the Netherlands, 500 a.s.r. employees will participate in activities on Thursday, April 18, during Doenkracht Donderdag (“Doenkracht Thursday”). On this day, employees will step away from their usual tasks and wholeheartedly engage in volunteer work across 6 of a.s.r.’s 7 business cities. a.s.r.’s social organisation, Doenkracht, collaborates with various organisations in and around these cities that can benefit from external help. This initiative marks the first time a.s.r. is organising such an event, drawing inspiration from Aegon Nederland, which previously introduced Vrijwilligerswerk Vrijdag (“Volunteering on Friday”). The commitment to community activities aligns with a.s.r.’s mission to empower individuals in the Netherlands to make informed financial decisions, fostering greater financial awareness, savvy, and resilience.