NN Group to acquire a 70% stake in Heinenoord for €176m.

NN Group, one of the largest insurance and asset management companies in the Netherlands, agreed to acquire a 70% stake in Heinenoord, an insurance broker and service provider, for €176m ($208m). "As Heinenoord plays an active role in the value chain between customers, traditional brokers and insurance companies, this acquisition will strengthen our distribution capabilities, and reinforce our leading position in the Dutch non-life market. NN is committed to continuing Heinenoord’s successful strategy to grow to a top 5 position in the Netherlands. Heinenoord will retain its independent position as a broker, and will remain dedicated to servicing its long-standing customer relationships and partnerships," David Knibbe, NN Group CEO.