Zeist,
02
October
2025
|
07:30
Europe/Amsterdam

Achmea and Sixth Street launch top three player in pension and life insurance

Achmea, Lifetri and Sixth Street have finalised their strategic partnership in pension and life insurance. The partnership, which was announced in November 2024, has been approved by the regulators, and the Works Councils have issued a positive recommendation. The joint venture, Achmea Pension & Life Insurance N.V., will operate from today onwards as a top three player, concentrating on sustainable growth, customer focus and reinforcing its position in a dynamic pensions landscape. 

Broadly speaking, the partnership entails the following:

  • Achmea and Lifetri are consolidating their pension and life insurance portfolios, with more than 2.1 million customers, in the joint venture Achmea Pension & Life Insurance.
  • Sixth Street (which owns Lifetri), will receive 20.45% of the shares in the joint venture by contributing Lifetri and making a payment of € 461 million to Achmea.
  • The joint venture is well positioned to benefit further from growth opportunities in the pension buyout market and aims for a market share of 20%.
  • Lifetri’s more than 500,000 customers will continue to receive services under the Centraal Beheer brand. Lifetri’s employees will transfer to Achmea.
  • Thanks to the partnership, the capital generation of Achmea Pension & Life Insurance is expected to increase by approximately € 100 million from 2028 onwards.
  • The impact of this transaction on Achmea’s capital position is limited.


Executive appointments 
Arthur van der Wal has been appointed Chief Executive Officer of the joint venture, effective from 1 October 2025. He was Chair of Achmea’s Pension Division until 31 December 2024, and has been responsible since January 2025 for the preparations for the joint venture. The management team also includes Mohamed Ahmadan (Chief Financial Officer), Theo de Ruijter (Chief Risk Officer) and Hanneke Scherjon (Chief Operating Officer). 

Supervisory Board
The Supervisory Board of the joint venture consists of Daphne de Kluis (Chair), Michel Lamie, Rohan Singhal, Else Bos, Delfin Rueda Arroyo and Mike Nawas. 

Market developments boost demand for insured solutions
Pension reforms in the Netherlands are expected to lead to further consolidation among pension funds and an increased demand for insured solutions. The pension buyout market in particular offers significant opportunities for growth. In the coming years, €20 to €30 billion is expected to become available in this segment. Thanks to its strong profile in risk and capital management, asset management and customer-focused solutions, the joint venture presents pension funds with an attractive alternative by means of a buyout. The ambition is to achieve a market share of 20%. Achmea announced its first buyout in May 2025, acquiring € 1.5 billion in pension obligations from FrieslandCampina.

Excellent customer service 
Lifetri has more than 500,000 customers with funeral, life and/or pension insurance. At Centraal Beheer, these customers will benefit from excellent service and a digital platform providing a comprehensive range of insurance, savings and investment products. 

Financial and social return on investment
Achmea and Sixth Street will also collaborate in the area of investments on behalf of the joint venture. This offers additional opportunities for value creation and growth in the pension and annuities market. Achmea Investment Management, a leader in impact investments in the Netherlands, will shape the ambition of the joint venture to align financial returns with social impact and climate goals, embedding these values in its polices and operations.