SNS Reaal insurance arm to be sold off this summer

The insurance arm of financial services group SNS Reaal will be sold off this summer, finance minister Jeroen Dijsselbloem told parliament on Friday.

SNS Reaal was nationalised in February 2013 and the Dutch government told the European Commission at the time that the restructuring should include dividing up the banking and insurance arms and selling them as separate entities.

Dijsselbloem now thinks this summer is the time to sell Reaal, the insurance arm, because ‘the markets are in better shape’.

He calls the sale ‘a logical first step in the restructuring of SNS Reaal’ and sees ‘no reason to wait’, according to the Nos.

ING is also planning an IPO for its insurance arm Nationale Nederlanden in the near term.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation