Document background
The Buy And Sell Agreement (Insurance) is a crucial document used in the Dutch insurance market for transferring insurance policies, portfolios, or entire insurance businesses between parties. This agreement type is particularly relevant when insurance companies are restructuring their portfolios, divesting non-core business lines, or conducting strategic acquisitions. The document must comply with Dutch insurance regulations, particularly the Financial Supervision Act (Wet op het financieel toezicht) and the Dutch Civil Code (Burgerlijk Wetboek). It includes detailed provisions for policyholder protection, regulatory approvals, transfer mechanics, and operational continuity. The agreement typically requires approval from the Dutch National Bank (DNB) and must address specific requirements for different types of insurance products, from life insurance to property and casualty coverage. The document's structure ensures thorough coverage of all aspects of the transfer while maintaining compliance with Dutch and EU insurance regulations.
