Netherlands Mutual Life Insurance Company Signs ABN AMRO Mellon As Custodian, EUR850 Million

ABN AMRO Mellon Global Securities Services B.V. won the EUR850 million mandate for global custody services for Onderlinge Levensverzekering Maatschappij's Gravenhage U.A. (Onderlinge), a mutual life insurance company in The Netherlands. "Onderlinge's Gravenhage has a great name in the Dutch

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ABN AMRO Mellon Global Securities Services B.V. won the EUR850 million mandate for global custody services for Onderlinge Levensverzekering-Maatschappij’s-Gravenhage U.A. (Onderlinge), a mutual life insurance company in The Netherlands.

“Onderlinge’s-Gravenhage has a great name in the Dutch insurance market, and we are delighted to be able to provide global custody services that will meet their needs in a timely, cost-efficient and personalised manner,” said Nadine Chakar, CEO of ABN AMRO Mellon.

The mandate’s services will comprise core custody services, with the potential for value-added solutions, including investment accounting and performance measurement.

“There was intensive competition from the principal local market players for our mandate but, after careful review and consideration of all our business requirements, I was absolutely clear that the winner could only be ABN AMRO Mellon,” said Pieter Loyson, CEO of Onderlinge’s-Gravenhage. “They demonstrated a significant wealth of experience and expertise in meeting the demanding needs of insurance companies, as well as the ability to provide the best technology and solutions appropriate to our very specific requirements.”

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