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KBC Group: BC to acquire NN's Bulgarian pension insurance and life insurance businesses Brussels Stock Exchange:KBC


Brussels, 11 February 2021 (7.05 a.m. CET)
KBC to acquire NN’s Bulgarian pension insurance and life insurance businesses
Yesterday, KBC Group and the
Netherlands
all the shares of
all the assets and liabilities of NN Insurance Co. Ltd. – Sofia Branch (Bulgaria)
                       
 
The deal has a total consideration of 77.7 million euros and will only have an immaterial impact on KBC’s solid capital position. Upon closure, KBC Insurance’s Solvency II ratio – which stood at an excellent 222% at the end of 2020 - will be reduced by approximately 6 percentage points, but remain well above regulatory requirements, while KBC Group’s CET1 ratio will be maintained at an outstanding level (17.6% in 4Q2020, Basel III, fully loaded – Danish compromise). ....

Sofiya Grad , Czech Republic , Bruxelles Capitale , Pieter Kuss , Luc Popelier , Viviane Huybrecht , Johan Thijs , Stef Leunens , Peter Andronov , Nn Insurance Co , Group International Markets Business Unit , Sofia Branch Nn Life , Ann Group , Sofia Branch Bulgaria , Nn Pension Insurance Company , Life Insurance , Sofia Branch , International Markets Business Unit , General Manager , Investor Relations , Brussels Stock Exchange Kbc , Kbc Groep , சோஃபியா கிரத் , செக் குடியரசு , ப்ரூக்ஸெல்ஸ் தலைநகரம் , பீட்டர் குஸ் ,

KBC Group: BC to acquire NN's Bulgarian pension insurance and life insurance businesses


Brussels, 11 February 2021 (7.05 a.m. CET)
KBC to acquire NN s Bulgarian pension insurance and life insurance businesses
Yesterday, KBC Group and the
Netherlands
all the shares of
all the assets and liabilities of NN Insurance Co. Ltd. – Sofia Branch (Bulgaria)
                       
 
The deal has a total consideration of 77.7 million euros and will only have an immaterial impact on KBC s solid capital position. Upon closure, KBC Insurance s Solvency II ratio – which stood at an excellent 222% at the end of 2020 - will be reduced by approximately 6 percentage points, but remain well above regulatory requirements, while KBC Group s CET1 ratio will be maintained at an outstanding level (17.6% in 4Q2020, Basel III, fully loaded – Danish compromise). ....

Sofiya Grad , Czech Republic , Bruxelles Capitale , Pieter Kuss , Luc Popelier , Viviane Huybrecht , Johan Thijs , Stef Leunens , Peter Andronov , Nn Insurance Co , Group International Markets Business Unit , Sofia Branch Nn Life , Ann Group , Sofia Branch Bulgaria , Nn Pension Insurance Company , Life Insurance , Sofia Branch , International Markets Business Unit , General Manager , Investor Relations , சோஃபியா கிரத் , செக் குடியரசு , ப்ரூக்ஸெல்ஸ் தலைநகரம் , பீட்டர் குஸ் , ந் காப்பீடு இணை , குழு சர்வதேச சந்தைகள் வணிக அலகு ,