Home> Newsroom> Anbang Updates

  

  21st Century Business Herald, ZHAO Ping from Beijing

  Feb 16th, 2015 16:02

  Feb. 16th, Anbang Insurance Group officially announced its acquisition of Dutch insurer VIVAT. This has been the first time in history that a Chinese enterprise enters the Dutch insurance market.

 

   

  Feb. 16th, Anbang Insurance Group officially announced its acquisition of Dutch insurer VIVAT. This is the first time in history for a Chinese enterprise entering the Dutch insurance market.

 

  A leading Dutch insurance and asset management company with more than one hundred years of history, VIVAT was a wholly-owned subsidiary of SNS REAAL N.V., a 100% state-owned banking and insurance group in the Netherlands. Based on its competitive distribution network and multi-brand distribution strategy, VIVAT spreads its business over all the major subsectors of the insurance market, and leads the market for term life insurance products.

 

  Mr. Gerard van Olphen, chairman of the executive committee of SNS Reaal, commented, “SNS Reaal is glad to announce our sale of VIVAT to Anbang Insurance Group, a much-acclaimed investor in the Netherlands. We know Anbang as a dedicated and professional financial insurance group that recently has been proactively expanding business on a global scale. This transaction will better guarantee the benefits of VIVAT’s policy holders and employees.”

 

  From Anbang’s prospective, Anbang Group succeeded in an open, fair, and transparent competition of the acquisition with its win-win business model, excellent long-term solutions and well-thought globalization strategies. Participants involved in the bidding include Swiss Re-insurance Company, ASR Insurance Company, together with the united entity of the world famous fund CVC and GIC.

 

  According to a spoke person of Anbang Insurance, this acquisition is in line with Anbang’s globalization strategy. Anbang will receive significant benefit from integrating with the Dutch insurance market. With a stable client base, Vivat’s brands, Reaal and Zwitserleven, have nearly 3 million customers withbrand recognitions exceeding 80%. After the acquisition, Anbang will have access to multiple insurance sectors and multiple distribution channels through VIVAT’s brands, and hence provide European clients with even better services through shared customer resources with VIVAT.

 

  As one of top Chinese insurance conglomerates, Anbang Insurance Group has total assets over RMB 800,000,000,000, more than 10 subsidiaries including Property & Casualty Insurance, Life Insurance, Health Insurance, Pension, Assets Management, Financial Leasing companies and Banks, and over 30,000 employees and provides comprehensive financial solutions for more than 20,000,000 clients through 3,000 branches across China.

 

  The acquisition of the Dutch Insurer VIVAT is an important step for Anbang Insurance Group in its globalization strategy. The Dutch Insurer, VIVAT, will further strengthen Anbang’s insurance network in the Euro zoon for Anbang Insurance Group to realize synergies operating in both European and Chinese markets.

 

   

  (Edited: ZHAO Ping)