Fortis, the Belgian Dutch banking insurance and financial services group, is set to acquire Holland’s ASR Verzekeringsgroep, one of the country’s largest insurers, through a public cash and stock offering.
ASR shareholders will receive three Fortis shares for each ASR share and approximately €3.70 ($3.22 ) in cash.
The new group, to be known as AMEV Stad Rotterdam, would become the largest insurer in the Dutch market. ASR had premium income of approximately € 2 billion ($1.75 billion) in 1999.
Topics Mergers & Acquisitions Carriers
Was this article valuable?
Here are more articles you may enjoy.
Eli Lilly Wins Court Order in Fraud Allegations Against Florida, TN Pharmacy Groups 
Appetite for Insurance M&A Remains as AI Enters the Chat, Says PwC 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
Hacking Group Claims Major Hack of Novo Nordisk and Attempted $25M Extortion 
