Achmea Bank acquires mortgages from a.s.r. up to an amount of €1 billion annually

Achmea Bank and a.s.r. reached an agreement to continue their cooperation in the mortgage field for three years. Each month during this period, Achmea Bank will acquire newly originated mortgages with a short-term fixed-interest period from a.s.r., up to an amount of €1 billion annually. In the new agreement, Aegon Asset Management will be acting as the relationship manager for Achmea Bank. 

The acquisition will not affect customers in the portfolio; a.s.r. remains their point of contact and the agreement and terms and conditions will not change.

Pierre Huurman, chairman at Achmea Bank’s Executive Board: “Achmea Bank and a.s.r. have been working together in the mortgage field for quite some time now. The two organisations reinforce each other and so we are pleased to continue our strategic alliance. This extension underlines our growth ambitions in financial services.”

Patrick Klijnsmit, chief executive at a.s.r. asset management: “We have found in Achmea, for several years now, a suitable partner with a long-term vision and proven knowledge of mortgages. Today we announce the continuation of our three-year agreement from 2021. However, the true origin of our partnership in mortgages dates back from 2019, when Achmea Bank acquired the largest part of the then banking operations of a.s.r. bank. This turned out to be the start of a fruitful partnership in which we also confine a lot of trust in the future.”

Bas NieuweWeme, global chief executive at Aegon AM: “We are excited to play a part in this successful mortgage agreement. Our involvement follows our long-term strategic partnership with a.s.r. This partnership was created after combining Aegon’s Dutch insurance, pension, banking and mortgage activities with that of a.s.r. early 2023.”

Achmea Bank and a.s.r. entered into a three-year alliance at the end of 2021. Since then, Achmea Bank has acquired the target volume of some €2 billion of mortgages from a.s.r. This was done mainly through portfolio transactions and also with newly-originated mortgages with a fixed-interest period of up to five years.