a.s.r. becomes full owner of the PPI
a.s.r. acquires the PPI of Brand New Day. What does this mean for you as a customer? We’re happy to explain.
What will change at Brand New Day?
We announced today that there will be a number of changes at Brand New Day. First of all, a.s.r. will acquire Brand New Day’s 50% stake in the PPI. a.s.r. already had a 50% stake in the PPI and will therefore become the sole owner of the PPI.
In addition, the shareholder structure of Brand New Day’s holding company will change. The shareholders a.s.r. (9.99% interest) and VvAA (9.17% interest) will sell their stakes to a.s.r. The existing shareholder Hartwig acquires their shares. After this, Brand New Day Houdstermaatschappij will have two shareholders: Hartwig (74% interest) and Brand New Day N.V. (founders and employees of the first hour of Brand New Day, 26% interest).
The sale to a.s.r. of the remaining 50%-interest in the PPI is expected to be completed in the first half of 2021 and is only subject to the approval of the Consumer & Market Authority (ACM). The change in the shareholder structure of Brand New Day will take place at the same time and is still subject to the approval of the Dutch Central Bank, the European Central Bank and the AFM.
Will the Brand New Day PPI continue to exist?
Until the acquisition becomes effective, nothing will change. For the time being, the PPI will continue to operate as a separate entity, with its own board of directors and supervisory board. In time, the PPI will be renamed. The acquisition is currently being worked out in more detail and is expected to be completed in 2023. As soon as we have more detailed information, we will get back to you.
Will the PPI’s product range change?
With a.s.r. we will have a wealthy shareholder who has enormous expertise in the pension field. The advantage of having one captain on the ship instead of two, is that you will have a single point of contact for investments and savings, and there will be one management that decides on the entire product range, i.e. both investment and insurance.
The details of the acquisition are currently being worked out further and are expected to be completed in 2023. As soon as we have more information, we will of course get back to you.
Will something change in the services in the short term?
No, for the time being the entire service provision will continue as you are accustomed to. You will have the same contact persons, changes can be passed on in the same way and collections will take place at the usual dates by the same IBAN’s of Brand New Day. For the time being, you will also keep exactly the same company pension as you currently have, with the existing conditions. As soon as something changes in the service, we’ll let you know well in advance.
A big thank you
Over the past ten years, the Brand New Day PPI has grown from a fun attic room initiative to one of the most successful PPIs in the Netherlands, serving 5,800 very satisfied companies and 145,000 equally satisfied participants. We have grown tremendously and that is of course thanks to the trust you have placed in us as a customer. Many thanks for that! We are confident that in the coming years we will be able to maintain this growth and further increase the satisfaction of our customers.
Do you have a question?
Feel free to contact us. We are happy to answer all your questions!