By Ian Walker

NN Group NV said Tuesday that it has agreed to sell its former MetLife pension business in Poland to Assicurazioni Generali SpA for an undisclosed sum.

The Dutch insurance and asset-management company said the sale, which followed a review of its options for the business, will have an immaterial impact on its operating capital generation and operating result.

The business being sold has 2.4 billion euros ($2.43 billion) of assets under management.

NN Group said the sale, which is expected to close in the first quarter of next year, won't affect the existing pension business of Nationale-Nederlanden Poland.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

September 13, 2022 01:34 ET (05:34 GMT)

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