M&A Deal Summary

KBC Group Acquires NN Group N.V. - Bulgarian Pension & Life Business

On February 11, 2021, KBC Group acquired insurance company NN Group N.V. - Bulgarian Pension & Life Business from NN Group for 78M EUR

Acquisition Highlights
  • This is KBC Group’s 1st transaction in the Insurance sector.
  • This is KBC Group’s largest (disclosed) transaction.
  • This is KBC Group’s 1st transaction in the Netherlands.

M&A Deal Summary
Date 2021-02-11
Target NN Group N.V. - Bulgarian Pension & Life Business
Sector Insurance
Buyer(s) KBC Group
Sellers(s) NN Group
Deal Type Divestiture
Deal Value 78M EUR

Target

NN Group N.V. - Bulgarian Pension & Life Business

The Hague, Netherlands
NN Group has developed its business in Bulgaria with Pension and Life insurance products since its entrance into the market in 2001. NN Bulgaria has 138 employees, and the customer base consists of over 400,000 individuals and 400 corporate clients.

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Buyer(S) 1

Buyer

KBC Group

Brussels, Belgium
Category Company
Founded 1935
Sector Financial Services
Employees33,555
Revenue 10.8B EUR (2023)
DESCRIPTION

KBC Group is an integrated bancassurance group, catering mainly for retail, SME and midcap customers. It concentrates on its home markets of Belgium and certain countries in Central and Eastern Europe. KBC Group was founded in 1935 and is based in Brussels, Belgium.

DEAL STATS #
Overall 2 of 3
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 2
Country (Netherlands) 1 of 1
Year (2021) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 we.trade Innovation DAC

Dublin, Ireland

we.trade Innovation DAC is a digital trade platform based on the Linux Foundation's Hyperledger Fabric and runs on the IBM Blockchain Platform. We .trade digital platform delivers global trade transactions across trade finance, insurance, and logistics. we.trade Innovation was founded in 2017 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Raiffeisenbank

Bulgaria

Raiffeisenbank (Bulgaria) is a provider of banking, asset management, leasing and insurance brokerage services to retail, SME and corporate customers. Raiffeisenbank (Bulgaria) was founded in 1994 and is based in Bulgaria.

Buy -

Seller(S) 1

SELLER

NN Group

The Hague, Netherlands
Category Company
Founded 1845
Sector Insurance
Employees11,871
Revenue 11.0B EUR (2023)
DESCRIPTION

NN Group is an international insurance and asset management company offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group was founded in 1845 and is based in The Hague, the Netherlands.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 2 of 2
Type (Divestiture) 2 of 2
Country (Netherlands) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-07 VIVAT Schadeverzekeringen N.V.

Amstelveen, Netherlands

VIVAT Schadeverzekeringen N.V. is a provider of insurance services based in Amstelveen, Netherlands.

Buy €416M
Mergr

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