Holland Life Insurance (Hollandsche Sociëteit van Levensverzekeringen) was a Dutch life insurance company founded in Amsterdam in 1807 by Antoni Hartsen. It was the first life insurance company established on the European mainland. In 1967, it merged with Amstleven to form Delta, a predecessor of Delta Lloyd.
History
editThe Hollandsche Sociëteit van Levensverzekeringen was founded on 8 September 1807 and began operations in Amsterdam on 1 October. Antoni Hartsen served as its first director, supported by a supervisory board that included Cornelis Hartsen, Jacob Fock, Abraham Johannes Severijn, and Willem Willink Jr.[1] Before founding the company, Hartsen studied British mortality tables and life insurance practices and developed actuarial tables that became the basis of the company's premiums.[2] The company is generally regarded as the first life insurance institution established on the European mainland.[3] Hartsen built a network of brokers and correspondents across the Netherlands and several European cities, while maintaining centralized control over underwriting decisions.[4] The company rejected speculative life insurance and in 1808 declined a proposal to insure the life of Napoleon.[5] The firm remained relatively small during much of the nineteenth century, though it later introduced profit-sharing and expanded its sales organization. In 1896 it opened a branch in the Dutch East Indies, later transferring representation there to NILLMIJ.[6]
In 1954 the company entered the Canadian market by establishing Holland Life Insurance Society Limited in Toronto.[7][8] Led by Jan C. Tupker, the subsidiary was created to serve a growing Canadian market and the postwar Dutch immigrant community.[9] Business expanded rapidly, with insurance in force rising from more than C$2 million in 1955 to approximately C$12 million by 1957.[10][11] Branches were opened in Hamilton, Montreal, and Vancouver.[12] The Canadian operation remained active until its insurance portfolio was assumed by Commercial Union Assurance Company in 1977.[13]
Merger and successor companies
editAfter a series of acquisitions in the postwar period, Hollandsche Sociëteit merged with Amstleven in 1967 to form Delta, which became part of the Delta Lloyd Group. In 2016, NN Group acquired Delta Lloyd for €2.5 billion.[14]
References
edit- ↑ Westerwoudt, W.J.M. (1907). Gedenkboek ter gelegenheid van het honderdjarig bestaan der Hollandsche Sociëteit van Levensverzekeringen, 1807–1907 (in Dutch). Amsterdam: Joh. Enschedé en Zonen. OCLC 63452881.
- ↑ Directie der Algemeene Maatschappij van Levensverzekering en Lijfrente (1897). Bouwstoffen voor de geschiedenis van de levensverzekeringen en lijfrenten in Nederland (in Dutch). Amsterdam: Algemeene Maatschappij van Levensverzekering en Lijfrente. OCLC 924313319.
- ↑ Adriaanse, P. (1994). Op weg naar Delta Lloyd (in Dutch). Amsterdam: Delta Lloyd verzekeringsgroep. ISBN 978-90-9007441-2.
- ↑ Westerwoudt, W.J.M. (1907). Gedenkboek ter gelegenheid van het honderdjarig bestaan der Hollandsche Sociëteit van Levensverzekeringen, 1807–1907 (in Dutch). Amsterdam: Joh. Enschedé en Zonen. OCLC 63452881.
- ↑ Adriaanse, P. (1967). Het huis aan de bocht: restauratie 1964–1966 (in Dutch). Amsterdam: Hollandsche Sociëteit van Levensverzekeringen N.V. OCLC 713373643.
- ↑ Adriaanse, P. (1957). Gedenkboek ter gelegenheid van het honderdvijftigjarig bestaan van de Hollandsche Societeit van Levensverzekeringen N.V. (in Dutch). Amsterdam: Hollandsche Societeit van Levensverzekeringen N.V. OCLC 504789089.
- ↑ National Post, 3 April 1954, "Two Dutch Insurance Firms May Open Doors in Canada"; National Post. p. 1.
- ↑ National Post, 19 June 1954, "Dutch Insurance Firm Will Operate Here." p. 9.
- ↑ The Hamilton Spectator, 24 July 1954, "Investors in Holland Like Canadian Prospects". p. 18.
- ↑ Toronto Star, 24 November 1956, "Holland Life Finds Canada Good Business." p. 4.
- ↑ The Globe and Mail, 1 October 1957. 1 October 1957, "Holland Life Holdings Rise to $12,000,000." p. 21.
- ↑ National Post, 6 April 1957, "Holland Life. "p. 51.
- ↑ The Globe and Mail, 12 October 1977, "Public Notice: Holland Life Insurance Society Limited (H.S.V.L.)". p. B4.
- ↑ Belia Heilbron (23 December 2016). "Delta Lloyd stemt in met overnamebod NN Group" [Delta Lloyd agrees with takeover bid NN Group] (in Dutch). NRC Handelsblad.