Union Investment has signed a long-term lease agreement with the Municipality of Amsterdam for its department Verzekeringsbedrijf Groot Amsterdam (VGA).

VGA’s lease agreement includes 630 sq m of office space on the second floor of UN Studio Tower. VGA is a modern insurance company representing the risk-, insurance- and claims interests of the municipality of Amsterdam, institutions affiliated to the municipality and the employees of these organisations. The ownership of an insurance company is not uncommon among large companies. However, the ownership of an insurance company by a public institution is considered unique.

Irene van Esseveld, Associate Director at Savills Property Management in the Netherlands, adds: "UN Studio Tower remains a location where many different types of companies are established. The arrival of VGA adds another layer to the diversity of this building."

DRS Makelaars advised the departing tenant and played a key role in the successful completion of the deal. Union Investment was advised by Savills Property Management B.V.