Dutch insurer Achmea announced strong revenue and profit growth in 2024, its operational result increased to EUR 845 million, the company said in its press release.

In the Non-Life segment, the operating result was approximately the same as last year at EUR 300 million. At Achmea Pension & Life, the operational result increased to EUR 354 million (+70%), thanks to a better insurance result and better investment results. At EUR 241 million, the result at Health was also better than last year (+29%). In the Retirement Services segment, the operational result amounted to EUR 32 million, EUR 15 million lower than last year. This was partly caused by investments related to the pension transition. At International, the result was higher than last year and amounted to EUR 47 million.

The key takeaways of the report include:

• The operational result increased to EUR 845 million (+35%) thanks to a higher operational result in Pension & Life, Health, International and strong investment results
• The net result increased sharply to EUR 1.3 billion (+60%) and was supported by higher operational and investment results
• Premium volume up to EUR 25 billion (+12%) due to strong increase in almost all segments  
• Assets under Management rose sharply to EUR 265 billion (+22%), as a result of the acquisition of Blue Sky Group Asset Management, financial market developments and organic growth
• Solvency solid at 182% (year-end 2023: 183%)
• The customer satisfaction scores of brands Centraal Beheer, Interpolis and Zilveren Kruis remain high with relational NPS scores between +15 and +27
• The sustainability goals are on track, with good progress on carbon emissions reduction. The ambition of allocating at least 10% of own investments to impact investing by the end of 2025 is on schedule
• The announced partnership with Sixth Street and Lifetri creates additional growth opportunities in the pension buyout market and will provide more than 500,000 new Centraal Beheer customers.

“In 2024, we were successful with our growth strategy and achieved strong financial results. Additionally, we made significant strides in further developing our digital operating model, which is highly valued by our customers. The customer satisfaction and reputation scores of our brands remain consistently high, as does the engagement of our employees”, commented Bianca Tetteroo, chair Executive Board.

“The environment in which we operate remains dynamic. Geopolitical tensions and international conflicts are an ongoing concern. The associated uncertainty also increases the risk of volatility in financial markets. However, these markets developed favourably last year, which was positive for investment returns. The ECB cut interest rates several times in 2024, a signal that inflation in Europe is getting better under control. In the Netherlands, however, inflation remained relatively high, also in the second half of the year. This resulted, among other things, in higher costs for health care and damage repair”, Bianca Tetteroo added.