Our history

Introduction

Our roots

NN’s roots lie in 18th-century the Netherlands, when regional funds were started to insure people of certain communities and professional groups, as well as widows and orphans. Later, more common insurance companies arose. These included the fire insurance company the Haagsche van 1805, the Hollandsche Sociëteit van Levensverzekeringen (the first company that based policies on actuarial calculated risks in 1807), and RVS, founded as a funeral fund in 1838.

Over the years, Nationale-Nederlanden acquired many of these funds and companies, or their successors.

Our founding fathers

Two pillars formed the company we are today. The first was De Nederlanden van 1845, a fire insurance company in Zutphen. The second was Nationale Levensverzekering-Bank, a life insurance company founded in Rotterdam in 1863. In 1963, these two prominent companies merged into Nationale-Nederlanden, which became the market-leading company in the Netherlands. Combining Nationale’s strong domestic position and De Nederlanden’s international experience was a strategic decision, designed to prepare the company for the future.

Our international expansion

Nationale-Nederlanden’s financial power allowed it to expand foreign operations. The United States was one of the largest areas of expansion. For example, in 1979, the Life Insurance Company of Georgia was acquired. Through this company, Nationale-Nederlanden also expanded its presence into Asia in the 1980s.

In 1991, Nationale-Nederlanden merged with NMB Postbank Groep, and formed a new, integrated financial services company: Internationale Nederlanden Group (ING). The company offered customers a broad range of insurance, banking and asset management products, and had a wide variety of distribution channels. ING had a strong position in the retail and corporate sectors.  A new legal sub entity – ING Insurance – absorbed all of Nationale-Nederlanden’s activities.

Becoming NN Group

In 2008, the financial crisis started and ING took a capital injection from the Dutch Government. As a condition the European Union demanded a number of changes to ING’s company structure. This resulted amongst others in an operational split from between ING Bank, and ING Insurance and Investment Management in 2012.

ING Insurance and Investment Management  accelerated preparations for a stand-alone future with European and Japanese insurance and investment management operations. (ING Group had already divested its insurance activities in the Americas, Australia, and in most Asian countries by this time.)

On 2 July 2014, NN Group became a listed company with shares on Euronext Amsterdam, under the listing name ‘NN Group’.

Today

NN Group is an international financial services company, active in 11 countries, with a strong presence in a number of European countries and Japan. With our 16,000 employees, NN provides retirement services, pensions, insurance, banking and investments to approximately 19 million customers. NN Group includes Nationale-Nederlanden, NN, ABN AMRO Insurance, Movir, AZL, BeFrank, OHRA and Woonnu.

1845 / Assurantie Maatschappij tegen Brandschade

In Zutphen, a small town in the east of the Netherlands, two cousins establish a fire insurance company. The company does not merely insure against fire and other risks, but also seeks to prevent risks by installing a voluntary fire brigade manned by all staff members of De Nederlanden. Several years later, the name changes to De Nederlanden van 1845 and the company moves to The Hague. It merges with the Nationale Levensverzekering-Bank in 1963 to form Nationale-Nederlanden.

1857 / Expansion abroad

Soon after its incorporation, focus shifts to expanding the scope of its operations in the Netherlands and abroad. De Nederlanden van 1845 expands first to the Dutch East Indies, then to other European countries and finally to the rest of the world. The first foreign agency is set up in Batavia in 1857. By 1900 there are over 400 representatives and agents.

1863 / Nationale Levensverzekering-Bank

Founded in Rotterdam in 1863, the Nationale Levensverzekering-Bank is one of the few Dutch life insurance companies at the time. The market was dominated by foreign life due to a provision in the law, which the Nationale helped abolish in 1880. Several takeovers consolidate the organisation, which merges with De Nederlanden van 1845 into Nationale-Nederlanden in 1963.

1883 / Verzekeringsbank Victoria

Victoria started out in 1883 as a sickness fund in Amsterdam, and soon expanded into life insurance. From 1925 the focus was purely on non-life. Victoria is taken over by De Nederlanden van 1845 in 1938 and merges with Vesta in 1971, becoming Victoria-Vesta.

1893 / Vesta

Founded in Amsterdam as a social life insurance company before moving to Arnhem. In 1931, the Nationale Levensverzekering-Bank acquires the company for its social insurance portfolio. In 1971, Vesta merges with Victoria to become Victoria-Vesta.

1896 / Eerste Rotterdamsche

In 1896, Eerste Rotterdamsche opens its doors with life, accident and disability insurances. From 1916, the company focuses solely on accident insurance. In 1928, the company is taken over by the Nationale Levensverzekering-Bank and continues operating under its own name until 1970.