M&A Activity • Jan 8, 2026
M&A Activity
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Utrecht, the Netherlands, 8 January 2026, 08.00 CET
ASR Nederland N.V. (a.s.r.) has reached an agreement with BOVAG on the full acquisition of all insurance activities of Bovemij N.V. (Bovemij). Customers will continue to receive advice and distribution of insurance products through the trusted Bovemij and ENRA brands. To facilitate this, BOVAG and a.s.r. will each hold a 50% stake in a new to be established joint venture.
Bovemij specialises in insurance and additional services for the mobility sector and has been active since 1963. The gross written premiums of the insurance activities in 2024 amounted to circa € 400 million.
The acquisition of Bovemij's insurance activities aligns with a.s.r.'s strategy to grow organically and through targeted acquisitions. With this transaction, a.s.r. strengthens its position as a non-life insurer and secures a strong position in the mobility sector with the well-established Bovemij and ENRA brands, trusted by entrepreneurs and consumers for decades.
For Bovemij and ENRA customers, the acquisition by a.s.r. means greater expertise and capacity to meet the growing demand for tailored insurance solutions in a rapidly changing mobility market, while maintaining the familiar service and brand names Bovemij and ENRA. This ensures customers are better served with specialised, future-proof insurance solutions for the mobility sector. The continued involvement of BOVAG guarantees sector-specific knowledge and a strong connection to the practical needs of mobility businesses.
Jos Baeten, CEO of a.s.r.: 'We are pleased with this transaction, which fits within our growth strategy and enables a sustainable partnership with BOVAG. Bovemij is a strong player with a rich history and extensive expertise in mobility. Together, we can serve our customers even better with innovative products and services. For employees, this represents an opportunity to combine knowledge and experience and jointly build a futureproof organisation. We look forward to welcoming Bovemij's employees and customers to a.s.r. in the near future.'
Christianne van der Wal, Chair of BOVAG: 'This strategic partnership is an important step for the mobility sector. By bringing the knowledge, experience and strengths of BOVAG and a.s.r. together, we create a solid foundation for sustainable growth and innovative solutions for our members. We recognise that this change will have an impact on colleagues at Bovemij Group. Together, we will ensure a careful transition.'
The acquisition is subject to approval by the Netherlands Authority for Consumers and Markets, obtaining a declaration of no objection from De Nederlandsche Bank, and the advisory process of the works councils.
Nienke Abid
T: +31 (0)6 410 742 81 T: +31 (0)30 – 257 8600 E: [email protected] E: [email protected] www.asrnl.com www.asrnl.com
Media Relations Investor Relations
Bovemij Group is the leading specialist in the mobility sector. Since its founding in 1963 by BOVAG, Bovemij has been supporting mobility businesses with solutions that work. The group comprises four strong brands: Bovemij Verzekeringen (car and garage insurance), ENRA (bicycle and e-bike insurance), RDC (data services) and Autotrust (extended warranties). For more information, visit http://www.bovemijgroup.nl
BOVAG is a trade association representing more than 8,000 entrepreneurs active in the mobility sector. Its members include businesses specialising in passenger cars, classic cars, commercial vehicles and trucks, two-wheelers, caravans, trailers, engine overhaul, car rental and car sharing, car washing and detailing, driver training, automotive damage repair and fuel stations. In addition, BOVAG serves as a quality mark for customers of these businesses. BOVAG members ensure that customers can enjoy their mobility with confidence and peace of mind. And mobility comes in many forms – from bicycles to caravans and from cars to scooters.
ASR Nederland N.V. (a.s.r.) is the second-largest insurer in the Netherlands. a.s.r. helps its customers share risks and build up capital for the future. We do this with services and products that are good for today, tomorrow and always, in the fields of insurance, pensions and mortgages for consumers, businesses and employers. a.s.r. is also active as an asset manager for third parties. a.s.r. is listed on Euronext Amsterdam and is included in the AEX Index. For more information, please visit www.asrnl.com
Cautionary note regarding forward-looking statements.
The terms of this disclaimer ('Disclaimer') apply to this document of ASR Nederland N.V. and all ASR Nederland N.V.'s legal vehicles and businesses operating in the Netherlands ('ASR Nederland'). Please read this Disclaimer carefully.
Certain of the statements contained herein are not (historical) facts but are forward looking statements ('Statements'). These Statements may be identified by words such as 'expect', 'should', 'could', 'shall', 'target' and similar expressions. The Statements can change as a result of possible events or factors. The Statements are based on our beliefs, assumptions and expectations of future performance, taking into account information that was available to ASR Nederland at the moment of drafting of the document. The Statements are based on the assumption of normal (financial) markets, environmental and economic conditions (including current expectation of the forward interest rate term structure) at the moment of drafting of the document and no material regulatory changes. ASR Nederland warns that the Statements could entail certain risks and uncertainties, so that the actual results, business, financial condition, results of operations, liquidity, investments, share price and prospects of ASR Nederland could differ materially from the Statements.
Factors which could cause actual results to differ from these Statements may include, without limitation: (1) changes in general economic conditions; (2) changes of conditions in the markets in which ASR Nederland is engaged; (3) changes in the performance of financial markets in general; (4) changes in the sales of insurance and/or other financial products; (5) the behavior of customers, suppliers, investors, shareholders and competitors; (6) changes in the relationships with principal intermediaries or partnerships or termination of relationships with principal intermediaries or partnerships; (7) the unavailability and/or unaffordability of reinsurance; (8) deteriorations in the financial soundness of customers, suppliers or financial institutions, countries/states and/or other counterparties; (9) technological developments; (10) changes in the implementation and execution of ICT systems or outsourcing; (11) changes in the availability of, and costs associated with, sources of liquidity; (12) consequences of a potential (partial) termination of the European currency: the Euro or the European Union; (13) changes in the frequency and severity of insured loss events; (14) catastrophes and terrorist related events; (15) changes affecting mortality and morbidity levels and trends and changes in longevity; (16) changes in laws and regulations and/or changes in the interpretation thereof, including without limitation Solvency II, IFRS, sustainability regulations and taxes; (17) changes in the policies of governments and/or regulatory-or supervisory authorities; (18) changes in ownership that could affect the future availability of net operating loss, net capital and built-in loss; (19) changes in conclusions with regard to accounting assumptions and methodologies; (20) adverse developments in legal and other proceedings and/or investigations or sanctions taken by supervisory authorities; (21) risks related to mergers, acquisitions, and divestments (22) other financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results and (23) the other risks and uncertainties detailed in the Risk Factors section contained in recent public disclosures made by ASR Nederland.
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