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Delta Lloyd hires advisors to prepare bid for SNS Reaal's insurance arm

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Delta Lloyd Group has hired external advisors to prepare a bid for Vivant, the insurance arm of Dutch nationalized financial institution SNS Reaal N.V., newspaper de Telegraaf reported.

SNS Reaal's insurance unit is valued at an estimated €700 million to €1 billion ($923.44 million to $1.32 billion), reports Reuters citing the newspaper.

SNS Reaal's insurance operations registered €124 million ($170.4 million) in net profit in 2013, down from €402 million ($530 million) in 2012.

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