NN Group open to acquisitions
Dutch insurance company NN Group [AMS: NN] is open to acquisitions, Het Financieele Dagblad reported, citing CEO Lard Friese.
In its 1Q19 results announcement, the company said it has more than EUR 2bn in cash. The funds are available for one or more large acquisitions, the report said.
NN Group has teamed up with Athora to acquire Dutch competitor Vivat and according to Spanish media reports it is also interested in the Spanish insurer Caser, the item noted. Friese did not comment on these two possible buys, but was quoted as saying that he is open to opportunities in the markets where NN Group is active. NN acts when an acquisition is logical, he added.
In 1Q19, NN saw a net profit of EUR 512m, up from EUR 399m in 1Q18, the item added.
Link to report here.