Achmea expands scale of international operations with the acquisition of Aegon Slovakia’s property & casualty portfolio
Achmea is expanding its presence in Slovakia by acquiring Aegon’s property & casualty portfolio in Slovakia. The acquisition is being made by Achmea’s subsidiary, Union. The portfolio consists of more than 18,000 home insurance policies. Robert Otto, member of Achmea’s Executive Board: “This transaction is in line with our international strategy, which involves using our knowledge of digitisation to further strengthen our market positions. In doing so, we focus on the increased scale of non-life and health insurance via the online channel and banking distribution.”
Achmea targets its knowledge and experience where we expect rapid growth. For example, in 2018, we used technology and robotisation in Slovakia to improve our customer service.
Outside the Netherlands, Achmea operates in five countries: Greece, Turkey, Slovakia, Canada and Australia. International written premiums amounted to around €1.1 billion in 2018. In local currency, written premiums at Non-life rose by 7%, with an 11% increase at Health. We offer our non-life and health insurance policies outside the Netherlands mainly via banks or online.
The acquisition has been submitted to the local regulatory authorities for approval.