Annual Report 2021
Business performance
Distribution and Services segment

The Distribution and Services segment includes activities related to the distribution of insurance contracts and the financial intermediary business of PoliService B.V., Van Kampen Groep Holding B.V. (VKG) and Van Kampen Geld B.V., Dutch ID B.V., SuperGarant Verzekeringen B.V. and Corins B.V.

Financial performance

Total income

Total income increased by 20 million to 119 million (2020: 99 million). This increase was mainly driven by acquisitions, but also organic business growth in various portfolios and selective tariff adjustments. The range of services provided was further broadened by adding several (smaller) distribution partners and service providers.

Operating result

The operating result increased by 9.2% (2 million) to 28 million (2020: 25 million). This increase was driven by the contribution of acquisitions and expansion of services, which also increased total income.

Operating expenses

Operating expenses increased by 22 million to 94 million (2020: 72 million). This increase was mainly due to acquisitions, organic growth of the business and integration costs.

Result before tax

Result before tax

(in million)


2020: -6

Result before tax

(in million)


2020: -6

The IFRS result before tax increased by 16 million to 10 million (2020: -6 million). This increase was mainly due to a less negative impact of incidentals, including an impairment of goodwill and start-up costs for the a.s.r. Vitality programme.

Distribution and Service entities


Developments in the distribution business in 2021 showed that the distribution landscape remains fluid. The ongoing consolidation and growth of larger distribution businesses remain the most important developments in this market. The overall trend is for larger distribution businesses to gain market share on the strength of both organic and inorganic growth; the top 50 companies in the distribution field increased their power within the overall distribution landscape. Hybrid distribution models of insurance products also remain. a.s.r. wants to position itself to move along with these developments as well as for facilitating the independent intermediary channel.

Strategy and achievements

The distribution and services activities, combined with organic growth in the distribution businesses acquired in previous years, strengthened a.s.r.’s market share in the distribution landscape. The portfolio of the activities of these distribution businesses showed steady growth compared with the corresponding period in the prior year.

a.s.r.’s market share in the distribution landscape has given it forward integration into the insurance chain and improved insights into advisor and customer needs. a.s.r. believes this will help it align its product range more closely with customer needs and better connect it with the intermediary landscape.

a.s.r. also believes the acquisitions provide learning and innovation opportunities since they will facilitate the development and testing of new product ideas with direct input from the distribution and customer sides. The integrated chain approach enables a.s.r. to accelerate the implementation and marketing of innovations and new products.

Van Kampen Groep

Van Kampen Groep (VKG) is one of the large full-service providers in the Dutch market. Via VKG, Dutch advisors can place non-life insurance, income insurance and mortgages with one of the mandated brokerages of VKG or via VKG at regional insurers, banks and other financial institutions. VKG grew in 2021 through the acquisition of a number of portfolios, mandated brokers and participating interests in a number of advisors, as part of its growth strategy.

Dutch ID

The activities of Dutch ID (brands Boval and Felison) are based on its mission: Let entrepreneurs do business. This is reflected in the sectoral service strategy, under which sectoral, professional and customer knowledge is used to provide small and medium-sized enterprises (SMEs) with an optimal service. This is executed together with sectoral and other organisations such as LTO Nederland, evofenedex and Transport en Logistiek Nederland. The mission is also reflected in the service strategy of enabling the Dutch insurance market to get the best out of itself and the market. In order to meet these strategic targets, Dutch ID plays an active role in the changing field of service commission, technological development and the vision of the insurance chain. Through its versatility and flexibility, Dutch ID has built up a strong position as a service provider in this playing field.


Corins is a successful underwriting agency in the Dutch non-life co-insurance market. Since 2016, the company has operated as an autonomous entity within the a.s.r. group, with the strong a.s.r. brand with which it holds a stable and financially strong position. The company, along with a.s.r., has worked for years with a panel of reputable foreign risk-bearers to serve the Vereniging Nederlandse Assurantie Beurs (Insurance Exchange Association (VNAB)) brokers on the Dutch stock market. Its market position has strengthened considerably in recent years, following the integration with the Generali listed portfolio in 2018 and through organic growth.


The purpose of the services of SuperGarant is to enable businesses to focus on their core activities as far as possible. SuperGarant operates as an advisor and underwriting agent. SuperGarant does this by offering services focusing on four main themes: insurance, absences, service commission and training. In recent years, the activities of SuperGarant have been dominated by acquisitions aimed at creating a set of companies that are positions for further growth as a target group specialist. In 2021, SuperGarant focused on the integration of the acquisitions made in 2020.


ANAC is a service provider specialised in automotive concepts and full-service support for advisors. In 2020 and 2021, a number of large automotive contracts were cancelled, which had a major impact on the revenue. In 2022, ANAC will merge with VKG in order to retain sufficient scale for the provision of optimal support for its customers.


Poliservice is an intermediary for a.s.r. and its business. It sells, advises on and manages different types of insurance, gives direct mortgage and pension advice to its customers and manages the portfolios of advisors which have ceased to operate. Poliservice is also an insurance advisor for a.s.r.’s own employees. In 2021, a.s.r. integrated part of its independent advisor Anac Verzekeringen in Poliservice.

Outlook for 2022

From 1 January 2022, a.s.r. will transfer responsibility for the Distribution and Services group companies and associates to the newly-formed top holding company. This top holding company will steer and coordinate with (the management of) the companies. A strategic plan will be developed in order to realise an overall vision for all group companies and associates. This overall vision will be shared with all the Distribution and Services group companies and associates and will be developed in a step-by-step plan for all companies in the second quarter. From the start of the third quarter of 2022, all companies will work on the joint strategy and the ambition to be a key player in the Dutch distribution market and key sectors, for businesses that may operate in specific niches but also for businesses seeking a permanent home for the management or takeover of a customer portfolio in the consolidating market.