Dutch Bank ABN Amro Splits, Sheds Insurance Business Unit

Law360, New York (April 13, 2012, 3:09 PM EDT) -- State-owned Dutch lender ABN Amro Bank NV will spin off its insurance business unit after it reached an agreement to sell its commercial insurance broker operations for its corporate clients to U.K.-based insurance risk management company Aon PLC, ABN Amro said Thursday.

Separately, the bank said it would transfer its insurance operations for its small- and medium-sized clients to its joint venture vehicle with Dutch insurance company Delta Lloyd Group.

The Dutch bank said Aon would acquire the commercial insurance activities of 74 of its 270...
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