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LONDONLondon-based insurer Aviva P.L.C. is adding to its existing business in the Netherlands with the acquisition of Rotterdam, Netherlands-based property casualty and life insurer Erasmus Groep B.V.
Aviva's majority owned Amsterdam, Netherland's based insurer Delta Lloyd Group is to acquire Erasmus from Stuttgart, Germany-based Wustenrot & Wurttembergische A.G. for an undisclosed sum.
In a statement Aviva said the acquisition of Rotterdam, Netherlands-based Erasmus is in line with Delta Lloyd's ambition to further strengthen its position in the Dutch insurance market.
Henk Raue, member of the executive board for Delta Lloyd Group with responsibility for Delta Lloyd Insurance, said, "the acquisition of Erasmus will enable us to strengthen Delta Lloyd's position in the Dutch life and general insurance market."
Erasmus' gross premium income was €228 million ($296 million) for the year ended 31 Dec., 2005, with general insurance accounting for approximately 55% and life for 45%.