The Dutch central bank has given approval for the takeover of insurance group Vivat by sector peers NN Group and Athora, Vivat has said in a press release.

Vivat, which owns the Reaal and Zwitserleven brands, was put up for sale by Anbang in early 2019 as part of a ‘strategic reorientation’. It had been taken over by Anbang in 2015 following the nationalisation of SNS Reaal at the beginning of 2013.

Under the terms of the deal, NN will take over Vivat’s non-life activities and Bermuda-based Athora, which has been keen to expand in Europe, will keep the life and asset management units.

Vivat said it expected the takeover to be finalised in April.