Annual Report 2022

a.s.r. ranks among the top three P&C insurers in the Netherlands, with a market share of 13.81 in 2021 (2020: 14.1%), measured by gross written premiums (GWP). a.s.r. offers P&C products for the retail and commercial markets under the brands a.s.r., Ditzo and Europeesche Verzekeringen. The a.s.r. brand focuses on the retail and commercial markets via advisors and mandated brokers, and Ditzo via direct online distribution to individuals. Additionally, the underwriting company Corins operates independently on the Dutch co-insurance market. In addition to a.s.r., Corins represents a panel of reputable international (re)insurers, serving VNAB brokers on the Dutch insurance exchange market. a.s.r.'s market position has been significantly strengthened in recent years through the acquisition of Generali Nederland and through strong organic growth in a market characterised by disciplinary and economic pricing. Europeesche Verzekeringen offers travel and recreational insurance via travel agents. The COR is 93.9% (2021: 91.9%), the increase primarily reflects the claims as a result of the impact of the February storms and the normalisation of claims following the abolishment of the COVID-19 measures.

Combined ratio P&C

(in %)


The Dutch P&C market is fairly consolidated. The three top P&C insurers have a combined market share of 64%2 (2020: 64%). Consolidation has also occurred among the distribution parties and mandated brokers.

Government measures in recent years due to COVID-19 drove further digitalisation of customer service such as more online distribution, the use of customer portals, advice via video calls and the use of live chats. The ending of the COVID-19 lockdown measures had a positive impact on the travel market and consequently, on the turnover of Europeesche Verzekeringen.

The government intends to make service commission for retail P&C insurance transparent. Advisors will be required to actively inform customers of the average amount of commission per product and per person. This could provide a stimulus for change in the distribution landscape.


a.s.r. offers a wide range of P&C products in the retail and commercial markets. This includes products in the following categories:

  • Motor policies provide third party liability coverage for motor vehicles and commercial fleets, property damage and bodily injury as well as coverage against theft, fire and collision damage.

  • Fire policies provide coverage against various property risks, including fire, flood, storms and burglary. Private coverage is provided on both a single-risk and a multi-risk basis, with multi-risk policies providing coverage against loss of, or damage to, dwellings and damage to personal goods.

  • Other P&C insurance products such as liability, legal aid, travel and recreation, and transport insurance.

Product share P&C

(in %)

Strategy and achievements

a.s.r. has a strong track record being profitable, with a good customer satisfaction score. Long-term growth is typically driven by the increase of the gross domestic product. a.s.r. is strongly represented among advisors, mandated brokers and in the co-insurance market, via Corins. In the direct channel the revenue of a.s.r. (via the Ditzo label) is stable and profitable. a.s.r. expanded its traditional product portfolio with offering sustainable P&C insurance at the end of 2021 via ASN Bank. In 2022, more products have been launched.

Simplifying and modernising the IT landscape is an important part of the strategy. In 2022, the P&C commercial portfolio was converted to the AXON platform and the old systems were decommissioned. This enables further digitalisation of the chain, improvement of services to customers and advisors, and cost reduction.

Through further digitalisation, the personal online environment My a.s.r. (Mijn a.s.r.) for customers has been expanded. By the end of 2022 over 166,000 customers had created accounts for Mijn a.s.r. (2021: approximately 80,000). Customers assign P&C a NPS-c score of 59 (2021: 59).


(score, -100 to 100)

New sustainable features are continually added to a.s.r.'s products and services. Cover for solar panels, charging units, (mini) wind turbines, heat pumps, green roofs and secondary flooding is already available. For damage repair, a.s.r. works with a sustainable repair network (affiliated to Stichting Groen Gedaan). Corporate customers receive sustainability advice after the risk assessment. The underwriters assess whether risks that are more difficult to insure from a technical insurance perspective, but that have a strong positive impact on climate change, can nevertheless be insured, partly in order to stimulate such initiatives. To encourage corporate customers to improve the sustainability of their companies, a.s.r. has set up a pilot in partnership with Klimaatroute. Customers and intermediairies may find information for example on how to make an energy transition or how to adapt to climate change on our ‘sustainable living’ internet platform.

Outlook for 2023

a.s.r. expects further growth of the P&C portfolio, by 3-5% per annum, with growth opportunities primarily in the commercial market. The COR target (combined with Disability) for 2023 is 93-95%. Inflation is continuously monitored in relation to the claims and pricing of the products.

In order to strengthen its position in the commercial market, a.s.r. will improve and simplify the business proposition. Additional measures will be implemented towards further digitalisation of the chain, in order to improve a.s.r.'s customer service. Mijn a.s.r. will be expanded and further digitalisation of the claims handling process is planned.

Products and services will become more sustainable, partly through further stimulation of sustainable repair (e.g. replacement with refurbished items) and the expansion of new sustainable insurance products, including tiny houses and other buildings.

The expected business combination with Aegon Nederland N.V. will have impact on P&C during 2023. For information about the proposed business combination, please refer to At a glance.

  • 1Source: Market shares DNB 2021. Market shares 2022 are not available yet.
  • 2Source: Market shares DNB 2021. Market shares 2022 are not available yet.