NN is buying a 50% stake in financial broker Finportal
Dutch group NN is buying a 50% stake in financial broker Finportal from Arca Capital. Arca’s creditors have already okayed the deal. NN, No.3 on the Slovak life insurance market, believes in synergies with one of the largest brokers, and promises that Finportal will keep its independence. Its founder, Rudolf Adam, is keeping his job as CEO. Arca Capital acquired the 50% stake in 2019, shortly before it defaulted on its debts.
In 2021, Finportal reported €36m sales and was No.3 on the market. It sold loans worth €1.1bn (+45% annually), the sale of life insurance policies rose 37% and non-life ones 55%. Its assets under management doubled to €102m.
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