Delta Lloyd will disappear from the Belgian market by the end of April, NN Insurance Belgium disclosed on Friday after finalizing its merger with its former rival.
The combined company will continue operating as NN Insurance Belgium and its headquarters will be transferred to Brussels. Some 300 persons who currently work at its site in Diegem will be transferred.
NN Insurance Belgium has a staff of 649. One of Belgium’s top four life insurance companies, it grosses 967 million euro in premiums annually.
“We’ve worked hard to prepare and achieve this phase,” NN Insurance CEO Jan Van Autreve said in a press release. “The objective of NN, to strengthen its position on the Belgian market and consolidate its capital position, has been legally endorsed today.”
“The purchase of Delta Lloyd in Belgium has broadened and enriched our range of products and gives us access to a vast network of professional agents,” Van Atreve added.