Developments in the distribution sector in 2023 show that the distribution landscape remains fluid. Ongoing consolidation and growth of larger distribution companies remain the key developments in this market. The general trend of further growth in the market share of distribution companies continued in 2023; the top 50 distribution companies further increased their market share through organic growth and acquisitions. With the acquisition of Aegon NL, a.s.r. also strengthened its position in the distribution market through the addition of the Robidus and Nedasco companies. Hybrid distribution models of insurance products, such as intermediaries and the online channel, also remain. a.s.r. is adapting to these developments in order to facilitate the independent intermediary channel.

Strategy and achievements

The D&S business, combined with organic growth of the distribution businesses acquired in previous years, strengthened a.s.r.’s market share in the distribution landscape. The business activities of these distribution companies grew compared with the corresponding period in 2022.

The top holding company Distribution and Services Holding B.V. has held responsibility for the distribution businesses since 2022. This top holding directs and coordinates (the management of) the businesses. All companies under this top holding are working to realise a.s.r.’s strategy and ambition to be a major player in the Dutch distribution market and in key sectors. Nedasco is added to the subsidiaries of this holding company on 1 January 2024.

Van Kampen Groep

Van Kampen Groep (VKG) is one of the major full-service providers in the Dutch market. It provides financial advisors with access to a wide range of financial services for retail and business customers, combined with quick and efficient handling. In 2023, VKG focused on optimising the operational processes, the cost basis and on building a future-proof IT environment and systems. ANAC, a service provider specialised in back-office services, was also added to VKG. Past acquisitions were transferred from VKG to D&S Participaties BV, with separate management, so that VKG can focus fully on future growth.

Dutch ID

Dutch ID’s activities (Boval and Felison brands) are based on its mission: to let businesses conduct business. This is reflected in the sectoral service strategy, in which knowledge of industry, trade and customers is used to provide the best possible service to SMEs. This is implemented in conjunction with (sectoral) organisations such as the Netherlands Agricultural and Horticultural Association (LTO Nederland), evofenedex, and the Dutch Transport Operators’ Association (Transport en Logistiek Nederland). a.s.r.’s mission is also reflected in the service strategy. In line with this strategy, Dutch ID plays an active role in the changing field of service provision, technological development and views on the insurance chain. Owing to its versatility and flexibility, Dutch ID has built a strong position as a service provider in this playing field and further strengthened its market share in 2023, primarily through the growth of its income portfolio at its subsidiary Felison.

SuperGarant

SuperGarant operates as an advisor and underwriting agent, offering services based around four main themes: insurance, absence management, other services and training. A number of past acquisitions were transferred from SuperGarant to a new entity under the top holding company with separate management, so that SuperGarant can focus fully on future growth.

Poliservice

Poliservice B.V. is a financial services provider with retail and business customers throughout the Netherlands. These services consist mainly of advising and mediating in insurance, savings, income and pensions, and mortgages.

Nedasco

Nedasco is one of the large full-service providers in the Dutch market. It offers a wide range of products and financial services from different insurers. Nedasco is active in both the commercial and the private segments and combines  service with fast and efficient handling, often using automated processes. The company has achieved organic growth in recent years, primarily in the commercial damage and income segments.

Robidus

Robidus is a broker for income insurances and a service provider with a firm position in the market for large and corporate employers. It helps organisations with the execution of social security regulations. Robidus operates as a financial risk advisor and offers claim and case management services around three main themes: employability, absence and disability and occupational health. Robidus has an autonomous growth plan based on employees with in-depth knowledge and an entrepreneurial mindset. Due to its position and services in between the Employee Insurance Agency (UWV), insurers, employers and employees, it plays a vital role in people’s lives to enable them to earn their own income. On a larger scale, Robidus contributes to the discussion within politics and Independent Commission on the Future of the Occupational Disability System (Onafhankelijke Commissie Toekomst Arbeidsongeschiktheidsstelsel; OCTAS) to provide solutions and ideas for solving execution challenges in social security.

Robidus reports to the D&S segment. It is a separate entity with their own strategy and it is not governed through the D&S holding company.

TKP

TKP administers pension rights for large corporate and industrial pension funds as well as other pension providers. Additionally, TKP takes care of the communication for these clients: from mandatory pension statements to customer contact and digital customer service. All these participants rely on TKP for correct and timely pension payments and clear and accessible pension information and communication.

In 2023, the focus laid on the transition to the new pension system. TKP entered into a new partnership with a leading IT supplier for the renewal of pension administration. The focus in the coming years is on a controlled and reliable transition to the new pension system. The first pension fund clients are expected to switch to a new pension scheme on 1 January 2025.

As a pension administrator, TKP reports to the D&S segment. It operates as a separate business line under the Life segment.

Outlook for 2024

In 2024, D&S will focus on implementing its strategy. D&S expects to increase market share through two key points. Firstly, by taking over portfolios through acquisitions, and secondly, by expanding existing portfolios at the present entities through commercial activities.

Synergy between the entities will also be strengthened further, enhancing overall service. This will be achieved through joint activities, knowledge-sharing, and the creation of a single IT landscape.

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