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.
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch 
Trump’s EPA Rollbacks Will Reverberate for ‘Decades’ 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
