Achmea closes new credit facility

Achmea announces that it successfully closed a new EUR 750 million senior unsecured multicurrency revolving credit facility ('RCF') with a syndicate of 12 international banks. This new facility replaces the current RCF of EUR 750 million which was signed in 2006. The new RCF will have an maturity of five years with two extension options of one year each.

The RCF is part of Achmea's liquidity management at holding level and is currently undrawn. The new RCF does not contain financial ratio covenants or banking covenants with the obligation to redeem in case of a rating downgrade.

Achmea also announces that its solid capitalization under Solvency II is confirmed by the recently performed Parallel Run. It is required by DNB for Dutch insurers under the scope of the Solvency II Directive to calculate their financial position for the financial years 2011 and 2012 in accordance with the expected principles of Solvency II. This additional reporting is referred to with the term “Parallel Run”.

With regard to Achmea, the main outcomes of the Parallel Run are that – compared to earlier quantitative impact studies – both available capital and required capital increase, resulting in a year-end 2011 Solvency II ratio on group level of 221% of the SCR (Solvency Capital Requirement) (2010: 205%).