Netherlands-based Kas Bank has expanded its European business by acquiring the German investment management arm of Dutch insurer Delta Lloyd, as mergers and acquisitions activity in the asset management sector outpaces last year's levels.

Under the terms of the deal, the German unit of Delta Lloyd Investment Managers will be integrated into Kas Bank and will retain full responsibility for relationship management, growth of the client base and day-to-day securities services for its clients. The company will remain in Wiesbaden and operate under the new name KAS Investment Servicing.