Sixth Street, major shareholder of Lifetri, acquires 20% of the shares in Achmea Pensioen & Levensverzekeringen through a contribution from Lifetri and a payment of EUR 445 million to Achmea, while Achmea holds 80% of the shares.
According to the press-release, the joint venture is well positioned for growth opportunities in the pension buy-out market and aims for a 20% market share. The partnership is expected to increase Achmea Pension & Life Insurance's capital generation by approximately EUR 100 million from 2028 onwards.
Achmea Pensioen & Levensverzekeringen will be a pension and life insurer that will be among the top three in the Netherlands, measured by customer numbers.
"This is a great outcome of the strategic exploration that we have conducted over the past year. We are gaining more than half a million Lifetri customers, who we will warmly welcome from Centraal Beheer. Sixth Street is also a party that, like us, focuses on long-term value creation and has a lot of knowledge of the pension and life sector. In that respect, we fit well together and we are complementary in what we bring to the joint venture. We can benefit from economies of scale and synergy that are important for our service books. Various concrete growth opportunities also arise. I look forward to exploiting them together”, says Bianca Tetteroo, Chairman of the Executive Board of Achmea.
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