The Dutch NDB Group becomes part of the GGW Group
Volendam/Hamburg – 27th January 2023
The owner-managed NDB Group, an insurance broker and underwriter based in North Holland, becomes part of the GGW Group. The NDB Group is thus starting a new growth phase in its corporate development. The dynamically growing GGW Group is expanding through the merger into another strategically important neighboring European country.
With a special focus on quality and integrated and scalable processes, the NDB Group has developed into one of the 40 largest providers on the Dutch market in recent years. In doing so, it has expanded into various regions of the Netherlands, where it has successfully established a leading regional position.
As the finance and insurance industry places increasing demands on compliance, data management and IT readiness, it is vital to keep up with these developments.
NDB takes these requirements into account at group level by providing its branches with a strong IT platform and centralized underwriting services under the “DiVerz” brand. The individual insurance brokers and financial consulting companies within the NDB Group retain their own identity and brand.
Jan de Boer, CEO of NDB Group, explains: “NDB Group has a strong and distinctive positioning in the Dutch market. We have attached great importance to the quality, history and content-related orientation of the companies within our group.nThe cooperation with the GGW Group enables us to continue on this path and further expand our position. NDB is therefore a very attractive partner for insurance brokers, underwriters and financial advisors in the Netherlands who want to join a group.”
The previous shareholders of the NDB Group have acquired shares in the GGW Group as part of the merger. You will continue to lead the NDB Group together with the previous management and will be responsible for the expansion and strategic development of the NDB Group in the Dutch market.
The GGW Group is an association of highly qualified and owner-managed insurance brokers (bundled under the umbrella brand LEADING BROKERS UNITED) and Assekuradure (bundled under the umbrella brand WECOYA UNDERWRITNG). The independence and entrepreneurial freedom of the individual companies are key features of the GGW Group.
The GGW Group was founded in early 2020, has since gained more than 30 partner companies and today employs more than 1,500 people. Together, the group manages more than EUR 1 billion in insurance premiums and has grown into a leading player in the industry within two and a half years. The company’s registered office is in Hamburg.
GGW Group works with like-minded entrepreneurs who foster intimacy, personal connections and responsibility of strong individual companies combined with the strength, stability and capabilities of a larger group.
Moritz Rutt, Managing Director of the GGW Group, says: “The GGW Group is characterized, among other things, by the fact that it is managed and accountable for by the owners of the group. The partners who joined the group became significant shareholders. That makes our culture unique. We rely on a high level of personal responsibility on the part of our partners, quick decision-making on site and customer proximity. This fits perfectly with the strategy of the NDB Group”.
As part of the merger with the GGW Group, the NVO Group based in South Holland will also become part of the NDB Group. The transaction is subject to the approval of the Dutch Financial Market Authority.