Insurance and reinsurance group Athora Netherlands said it is ‘reconfiguring’ its asset management capabilities via the sale of Actiam.
It described the decision as “an important milestone in the execution of [its] strategy to focus on pension solutions”.
Financial details were not disclosed.
Cardano is a privately-owned, Anglo-Dutch, risk, advisory and investment management group.
As part of the deal, it will provide asset management services to Athora’s unit-linked business under a 10-year exclusivity agreement.
Once the sale completes, which is expected in the first quarter of 2022, Cardano will have over 500 employees based across London, Nottingham and Rotterdam.
Actiam chief executive Frank Kusse said: “I am convinced that Cardano and Actiam fit together perfectly. The deal secures the expertise in impact investing and ESG-focused equity and fixed income asset management, while leveraging Cardano’s leading expertise in investment advisory and risk management.”