LONDON, Aug 29 (Reuters Breakingviews) - NN Group (NN.AS) is reaping the benefits of scale in its Dutch backyard. Benign weather in the Netherlands, one of the few European states to escape extreme summer weather, helped. But the seeds of NN’s resurgence lie back in 2016 when it began a 3 billion euro deal splurge, first on domestic rival Delta Lloyd and then VIVAT’s general insurance arm. That helped it hike a 10% share of the general insurance market to 24% as of 2021. NN has outperformed its country rival Aegon (AEGN.AS), boosting shareholder returns by 64% since it bought Delta Lloyd in 2016.

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Persons: David Knibbe, Elliott Advisors, Elliott, Delta Lloyd, Aimee Donnellan, Mukesh Ambani’s, Didi, George Hay, Oliver Taslic Organizations: Reuters, Chief, Delta, Aegon, Delta Lloyd, Thomson Locations: Netherlands