Founded in 1990, ZA Verzekeringen specializes in term life insurance services. Its annual gross written premiums total around 50m ($67.6m).
The acquisition will enable them to strengthen its distribution network in Belgium as ZA Verzekeringen’s distribution agreements with banks and independent brokers will become available for Delta Lloyd Life, the company said.
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Delta Lloyd Life will offer the term life insurance products to its new and existing clients. In addition, the profile of ZA Verzekeringen’s client base also opens up attractive commercial opportunities for Delta Lloyd Life and its existing distribution networks.
The pension solutions that Delta Lloyd Life offers are attuned to the wealthy personal client segment where ZA Verzekeringen has recorded strong growth in recent years.
With plans to fully integrate ZA Verzekeringen into Delta Lloyd Life, the products and the solid product development process of ZA will contribute to further enhance quality of service to customers and distribution partners.
The parties expect to complete the transaction in 2013, subject to approval by the Belgian regulatory authorities. The acquisition will have retroactive effect from 1 January 2013.
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