Developments in the distribution sector in 2024 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 2024; the top 50 distribution companies further increased their market share through organic growth and acquisitions. Hybrid distribution models of insurance products, such as intermediaries and online, also remain. a.s.r. is on top of these developments in order to facilitate, and support 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 to 2024.

The top holding company Distribution and Services Holding B.V. is responsible for the distribution businesses since 2022. This top holding directs and coordinates the businesses and their management. 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.

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 2024, VKG focused on optimising the operational processes, the cost basis and on building a future-proof IT environment and system.

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 P&C and income segments.

Dutch ID

Dutch ID’s activities (Boval and Felison brands) are based on its mission: to let businesses conduct business (laat de ondernemer ondernemen). 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 (Land- en Tuinbouw Organisatie Nederland - LTO), 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 value 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 2024, 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, training and other services.

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. In 2024, the portfolio of employee insurance was transferred from Poliservice to a.s.r.'s consulting firm. This aligns with the positioning of Poliservice as an independent intermediary.

D&S Participaties

D&S Participaties focuses on taking over portfolios and financial services organisations in the Netherlands, in order to further expand the share of a.s.r. in the distribution landscape.

Outlook for 2025

In 2025, 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.

Robidus

Robidus is an independent subsidiary of a.s.r. It is not a part of D&S Holding and therefore has its own strategy and its own Supervisory Board.

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 (Uitvoeringsinstituut Werknemersverzekeringen - UWV), insurers, employers and employees, Robidus plays a vital role in people’s lives to enable them to earn and protect their own income. Current problems with UWV put pressure on the system of social security. Robidus participates in several pilots initiated by the ministry of social affairs to improve the execution of the system. For clients, Robidus is focusing on developing practical solutions to prevent customer employees from becoming absent. Crucial initiatives to reduce pressure on the system in the end.

TKP

TKP administers pension rights for 16 large corporate and industry-wide pension funds and 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 and 2024, the emphasis was on transitioning to the new pension system. The focus in the coming years is on a controlled and reliable transition to the new pension system. The first pension fund client is expected to switch to a new pension scheme on 1 May 2025. The other clients are expected to switch on 1 January 2026, 1 July 2026, 1 January 2027, 1 July 2027 and 1 January 2028.

The results of TKP are consolidated in the D&S segment. As a pension administrator, TKP operates as a separated business line under the Life segment.

This page is intentionally left blank.