NN Group N.V. is the parent company of
NN Investment Partners
NN Investment Partners (also known as NN IP) is a Netherlands-based asset manager, with headquarters in The Hague and offices in 15 countries in Europe, Asia and the Americas. The company is a wholly owned subsidiary of Goldman Sachs. NN IP i ...
and Nationale-Nederlanden (). Nationale-Nederlanden is one of the largest insurance and asset management companies in the Netherlands. NN Group is headquartered in
The Hague, its office in
Rotterdam is located in the
skyscraper
A skyscraper is a tall continuously habitable building having multiple floors. Modern sources currently define skyscrapers as being at least or in height, though there is no universally accepted definition. Skyscrapers are very tall high-ris ...
Gebouw Delftse Poort
Delftse Poort ( en, Delft Gate Building) is a twin-tower skyscraper complex at Weena 505 next to the Rotterdam Centraal railway station in Rotterdam, Netherlands. Tower I is with 41 stories, and Tower II is with 25 stories. Until May 2009 ...
, which was the tallest skyscraper in the Netherlands until 2009. Aside from these two offices, the company has an office in Ede (former RVS) but no other main offices in the Netherlands, instead NN mainly relies on independent intermediaries for selling insurance.
On 23 December 2016, NN Group reached an agreement to acquire competitor
Delta Lloyd Group
Delta Lloyd Group was a Dutch insurer with operations in the Netherlands, Belgium and Germany. It consisted of Delta Lloyd, OHRA, ABN AMRO Verzekeringen and a few minor banks. The company was the sixth-largest insurer in the Netherlands, with a ...
for 2.5 billion euro.
History
Nationale-Nederlanden was formed in a merger in 1963 between the ''De Nederlanden van 1845'' (Non-life insurance Company The Netherlands) and the ''Nationale Levensverzekeringsbank'' (National Life Insurance Bank). The result of the merger, because of the strong domestic position of Nationale and the international experience of De Nederlanden, was to set the company up for the future. Emerging computerisation was embraced, and other innovation costs were jointly borne by the combined companies. Cooperation strengthened the companies’ experience in group insurance and allowed Nationale-Nederlanden to expand its territory. In 1991 NN merged, this time, with the
NMB Postbank Groep, to form the
ING Group. Aside from insurance and asset management, the company also offers some banking products such as
mortgages.
NN Group
During the
financial crisis of 2007–2008,
ING Group received financial support from the Dutch State. As part of the support deal, ING Group was mandated to split off ING Direct USA and all insurance and asset management activities. In 2013, a new company, ''NN Group'', was formed, which became the parent of the European and Japan insurance and asset management activities of ING Group, for example including Nationale-Nederlanden and NN Investment Partners. In 2014, NN Group was listed on the
Euronext Amsterdam
Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange, it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The reg ...
stock exchange in an
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
. The split from ING Group was finished in 2016, when it sold all remaining stock in NN Group.
Criticism
In June 2018, the NN Group was criticized by environmental organizations for its investments in tar sands oil companies and pipelines. NN Group reacted by stating that active engagement with the companies delivers more result than divestment from these companies.
See also
*
ING Group
References
{{Authority control
Insurance companies of the Netherlands
ING Group
Dutch brands
Financial services companies established in 1963
Companies based in The Hague
Companies listed on Euronext Amsterdam
Dutch companies established in 1963