Achmea acquires license to operate on Australian insurance market

Dutch based insurance company Achmea is partnering with Rabobank in its international strategy. Achmea acquired a license from the regulators, to sell insurance in Australia. Under the brand name 'Achmea Australia' the Sydney based branch will offer insurance solutions for the agricultural sector, to be sold predominantly to Rabobank clients.

Achmea was founded in 1811 in Achlum, when 39 local farmers joined forces to prevent personal disaster and poverty in the future: the founding of one of the first mutual insurance companies in the Netherlands became a fact.

Nowadays, Achmea is the largest mutual insurer in Europe, the 5th largest non-life insurer and the 12th largest overall insurer. According to the ICMIF Annual Mutual Market Share & Global 500, Achmea is 'a global leader among cooperatives'. Today, more than 200 years later, Achmea still values the basic principles of insurance: covering each other's unforeseen 'risks of life and work' for a premium as low as possible. Achmea is an unlisted insurance group with cooperative roots, equally balancing the interests of clients, partners, employees and shareholders.

In the Netherlands Achmea is the number one insurer of agricultural risks, working closely with Rabobank as the number one food & agri bank. Following the agricultural and cooperative roots of both companies and their natural connection, it is a strategic next step to introduce insurance solutions to the unique Australian farming community.

Roelof Konterman, Member of the Executive Board of Achmea: "We are extremely happy with the trust given to us by the Australian regulators. We will work hard to meet all expectations and maintain a high service level for years to come. The best way to do so is providing farmers with good risk coverage for fair prices and with excellent claim handling. Australian farmers can count on us. Our aim is to advise them in such a way that they are neither over- or under insured."

Thos Gieskes, CEO of Rabobank Australia: "In the Netherlands Rabobank and Achmea already have a longstanding partnership. We therefore have the fullest confidence that Achmea's proven products will help the Australian agribusiness to reduce their risks. We will continually challenge each other to deliver the best possible financial solutions and advice for our customers.