Parcom prepares insurance provider TAF for exit

Josh O’Neill, Benaiah Moses
13 April 2022

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TAF is being prepared for sale by its private equity backer Parcom, which has hired Rothschild to oversee its exit from the Netherlands-based insurance provider, four sources familiar with the situation said.

The asset is expected to be marketed based on annual EBITDA in the region of EUR 30m, according to two of the sources. The auction is in the preparation phase and has yet to launch, another source added.

The business, which claims to be one of the largest of its kind in the Netherlands, is expected to be touted to both financial sponsors and strategic players, two of the sources said. ASR Nederland, a Dutch insurance peer, is a logical suitor for TAF, a fifth source familiar with the situation said.

Parcom acquired a majority stake in TAF in December 2018 for an undisclosed sum, as reported.

Founded in 1999, TAF is one of the top three life insurance providers in the Netherlands, with an active portfolio of more than 525,000 policies and over 775,000 insured lives.

Parcom and Rothschild did not respond to requests for comment.