On 8 July 2021 NN Group announced that it has reached an agreement to acquire 70% of the shares in Heinenoord for a total consideration of EUR 176 million.
Heinenoord is one of the largest insurance brokers and service providers in the Dutch insurance market offering amongst others policy administration, underwriting services and claims handling. The company is growing rapidly in both revenues and margin, and is active as a broker and mandated agent for a wide variety of non-life insurance products and insurers, servicing both the SME and retail market. Heinenoord is also a service provider for an extensive network of around 500 independent brokers.
Baker McKenzie has proudly advised the shareholders of Heinenoord in this transaction. The core Baker McKenzie team consisted of Mo Almarini, Koen Bos, Suzanne van Balen, Megan Ruigrok and Alexis Gavriilidis. Furthermore, many other colleagues from the Amsterdam office have assisted in this transaction.
