Fortis Set To Acquire Dutch Insurer

October 9, 2000

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.

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