Acquisition of VPZ by Aevitae definitive

On 23 March 2010, the Management Boards of VPZ Assuradeuren BV and Aevitae Group BV/ Aevitae Insurance Services BV signed a letter of intent in which parties expressed their intention to investigate a full acquisition of VPZ Assuradeuren BV by Aevitae Insurance Services BV.

Meanwhile the investigation has been completed and has led to a definitive acquisition of VPZ by Aevitae Group / Aevitae Insurance Services as of 1 January 2010. Closing took place on 27 May 2010.

The authorised underwriters and regulators involved have agreed to this takeover. The works councils of both companies made positive recommendations with regard to this deal.

Bert ten Hove, director of VPZ Assuradeuren BV, says he is happy about this deal. “This means VPZ Assuradeuren BV can undergo accelerated professionalisation; it’s also time to hand over control to someone else”. Ten Hove shall step back as director but will continue to act as an advisor to the board and management of VPZ for some time.

Harry Laeven, CEO of Aevitae Group BV, emphasises again the major synergy opportunities of this deal. “VPZ Assuradeuren BV will continue to operate as an independent company within the Aevitae Group. The first synergy benefits will be achieved by system integration and better coordination of work processes. In principle, there will be no change to contacts with collaborating intermediaries but improvements will be made where necessary. This deal will strengthen the position of our underwriting agency. The combination of both companies administers around 410,000 persons insured for health care”.

VPZ Assuradeuren BV’s new management board will be formed from Aevitae Insurance Services BV. The strict split between directing the activities of the underwriter and the direct commercial activities of Aevitae Group BV will be taken into account.

2010-03-23T08:00:00+00:00March 23rd, 2010|