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Zurich Financial Sells Dutch Life Unit

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NU Online News Service, May 22, 2003, 5:11 p.m. EDT – SNS Reaal Groep N.V., Utrecht, Netherlands, has agreed to acquire the Dutch life insurance operations of Zurich Financial Services Group, Zurich.

SNS also will acquire Zurich’s personal and small-business property-casualty lines in the Netherlands, Zurich says.

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The price of the deal and other terms are confidential, but Zurich says the Dutch operations it is selling generate more than $200 million in annual premium revenue.

Although Zurich is selling its personal and small-business Dutch property-casualty businesses, it plans to keep its Dutch corporate property-casualty insurance business, the company says.