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NN Group to sell insurance brokerage Mandema & Partners

NN GroupNV agreed to sell Netherlands-based independent insurance brokerand risk adviser Mandema & Partners to Van Lanschot Chabot.

The deal, which is expected to be completed in the fourthquarter, is subject to regulatory approval and the advice of the workers'council of Mandema & Partners and Van Lanschot Chabot. Mandema& Partners is based in The Hague and has 145 employees.

NN Group said the transaction is based on its continuousstrategic assessment of its portfolio and is not expected to have a material effecton the capital position and operating result of the group.

Van Lanschot Chabot is 51% owned by De Goudse Verzekeringenand 49% owned by Van LanschotNV.