Athora's Belgium unit acquiring life portfolio with €3.3B of AUM

Athora Holding Ltd. unit Athora Belgium SA/NV has agreed to acquire a closed-book individual life portfolio with NN Insurance Belgium NV representing about €3.3 billion of AUM.

Terms of the deal were not disclosed.

The deal is expected to have a positive impact of roughly 1 percentage point on NN Group's Solvency II ratio.

The transaction is expected to close by mid-2022, subject to regulatory and other approvals.