Dutch insurance provider Achmea, technology-driven insurer Lifetri, and investment firm Sixth Street have finalised a strategic partnership in the pension and life insurance sector.
Initially announced in November 2024, the collaboration has now received regulatory approval, with the Works Councils providing a positive recommendation.
The newly formed joint venture, Achmea Pensioen & Levensverzekeringen N.V., begins operations today as one of the top three players in the Dutch pension market, aiming to drive sustainable growth, strengthen customer focus, and consolidate its position in a dynamic industry.
Under the partnership, Achmea and Lifetri are combining their pension and life insurance portfolios, collectively serving more than 2.1 million customers through the joint venture.
Sixth Street, the owner of Lifetri, will acquire 20.45% of the joint venture by contributing Lifetri and making a payment of €461 million to Achmea.
The joint venture is positioned to capture 20% of the pension buyout market, which is expected to see €20–30 billion in opportunities in the coming years.
Lifetri’s 500,000 customers will continue to receive services under the Centraal Beheer brand, while its employees will transfer to Achmea. Capital generation for the joint venture is expected to rise by approximately €100 million from 2028 onwards, with minimal impact on Achmea’s overall capital position.
Leadership of the joint venture will be provided by Arthur van der Wal as Chief Executive Officer, effective 1 October 2025. Van der Wal previously chaired Achmea’s Pension Division and has led preparations for the joint venture since January 2025.
The management team includes Mohamed Ahmadan (Chief Financial Officer), Theo de Ruijter (Chief Risk Officer), and Hanneke Scherjon (Chief Operating Officer). The Supervisory Board comprises Daphne de Kluis (Chair), Michel Lamie, Rohan Singhal, Else Bos, Delfin Rueda Arroyo, and Mike Nawas.
The partnership comes at a time of market change in the Netherlands, as pension reforms drive consolidation among pension funds and increase demand for insured solutions.
The joint venture between Achmea and Lifetri is designed to offer pension funds an attractive alternative for buyouts, drawing on their combined strengths in risk and capital management, asset management, and customer-focused solutions. In May 2025, Achmea completed its first pension buyout, taking on €1.5 billion in pension obligations from FrieslandCampina.
For Lifetri’s more than 500,000 customers, the partnership ensures continued access to high-quality service, supported by Centraal Beheer’s digital platform, which provides a wide array of insurance, savings, and investment options.
In addition, Achmea and Sixth Street will collaborate on investment strategies for the joint venture, opening up further opportunities for growth in the pension and annuities sector. With guidance from Achmea Investment Management, the joint venture will integrate financial performance with social impact and climate objectives, ensuring these priorities are embedded across its operations and offerings.
The post Achmea, Lifetri, and Sixth Street launch major pension and life insurance partnership appeared first on ReinsuranceNe.ws.
