Dutch insurer Delta Lloyd Group has entered into an agreement to acquire Belgium-based insurer, ZA Verzekeringen, from Amodo Group, to boost its presence in the country by providing a comprehensive assortment of products.
Delta Lloyd Group executive board member Onno Verstegen said that the acquisition will strengthen its distribution network in the Belgian market.
ZA Verzekeringen specializes in term life insurance and will enable the acquirer to boost its distribution network in Belgium, leveraging its distribution agreements with banks and independent brokers.
Furthermore, the Dutch-based insurer would be able to focus on the Belgian market, offering ZA Verzekeringen's products combining Delta Lloyd Life's strategic focus on protection and pensions.
The acquirer said that it will provide the term life insurance products to its new and existing clients.
Following completion of the transaction, the acquirer plans to combine ZA Verzekeringen into Delta Lloyd Life.