Achmea and Achmea Pension & Life Insurance, the joint venture between Achmea and Sixth Street, have announced the completion of two longevity reinsurance transactions by Achmea Pension & Life Insurance. Together, the transactions cover approximately €8bn in pension liabilities and roughly half of Achmea Pension & Life Insurance’s longevity risk exposure.
The agreements have been entered into with Munich Re and Pacific Life Re, and the risk transfer is effective as of 1 January 2026, with the agreements remaining in force until the portfolio has fully run off. Services and guarantees provided by Achmea Pension & Life Insurance to its policyholders are unaffected by the transaction.
“Transferring roughly half of our longevity risk exposure is a deliberate and significant next step in executing our long-term strategy. The associated capital benefit will support our strategic growth ambitions in the area of pension buyouts, as well as the further optimisation of our investment portfolio. This will be done in close collaboration with Sixth Street and Achmea Investment Management,” said Arthur van der Wal, Chief Executive Officer of Achmea Pension & Life Insurance.
Aon, directed by Roelant de Haas in the Netherlands and Martin Bird in the UK, led the reinsurance broking and structuring.
“Aon’s expertise and experience in the Dutch longevity market enabled us to bring this transaction to a timely and highly successful conclusion. The transaction is a significant next step in executing our long-term strategy. The associated capital benefit will support our strategic growth ambitions in the Dutch buyout market, as well as the further optimisation of our investment portfolio,” said Michiel Dijkstra, Head of Balance Sheet Management at Achmea Pension & Life Insurance.
“We are pleased to have supported Achmea on this strategically important capital solution and to have brought together a united Aon team with in-depth market expertise, industry insights and strong broking capabilities to deliver a successful transaction,” said Roelant de Haas, CEO of Aon Reinsurance Solutions Netherlands.
“The global longevity reinsurance market remains highly competitive and has large scale capacity to deploy, with a strong appetite in relation to the Dutch market. By using Aon’s Demographic Horizons software for modelling mortality and other demographics – including the leading base mortality postcode model for the Netherlands – as well as our broader reinsurance market insight and broking expertise, we were able to syndicate this milestone transaction for Achmea,” added Martin Bird, Senior Partner and UK Head of Risk Settlement at Aon.
Hogan Lovells International provided legal advice to Achmea, with Macfarlanes and NautaDutilh advising Munich Re and Debevoise & Plimpton advising Pacific Life Re.
