The Dutch insurance sector expanded rapidly in the second half of the 19th century and the early years of the 20th century, driven by strong economic growth and increasing prosperity.

Board of Groot Hollandsche

This growth was halted by the outbreak of World War I in 1914, which led to massive disruption across Europe. The years immediately after the war were marked by economic uncertainty, high inflation and rising unemployment. Despite these difficult conditions, the insurance sector again grew quickly.

By 1920, nationwide income from premiums had almost doubled from 1913 levels.  

First Female InspectorsMeanwhile, facing increasingly volatile business conditions in the Dutch East Indies, Nillmij had turned its attention to the more stable Dutch market.

In 1938, Algemeene Friesche and Groot Noordhollandsche announced that they had joined forces in one of just a few mergers to take place during the inter-war years. Both continued to operate under their original names. 

The return of war in Europe in 1939 brought more upheaval to the Dutch insurance business. Dutch insurers were forced to hand over property belonging to Jewish investors. After 1945, many families would return to reclaim their property.

Discover Aegon's History 1945-1980 >

updated May 8, 2012

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