Achmea follows call from EIOPA and DNB and suspends dividend distributions
Achmea has decided to suspend dividend distributions to shareholders until there is greater clarity regarding the impact of the coronavirus. By taking this action, the company follows the call from the European regulator EIOPA and the Dutch Central Bank (DNB). In the second half of 2020, Achmea will determine if a distribution on the shares can take place then, based on developments related to the coronavirus and the financial position.
On 2 April 2020, EIOPA and DNB urged insurers to maintain their financial buffers and to refrain from dividend distributions at the moment. This is because the impact of coronavirus on the economy is significant and the scale and duration of the crisis are still uncertain.
Willem van Duin, chairman of the Executive Board: “The coronavirus is having a major impact on us all. As a cooperative insurer, we are doing everything to help our ten million customers as best we can even in these exceptional circumstances. The health and safety of our customers and employees is our priority. Although our solvency and liquidity positions are robust, we have decided to follow the call of EIOPA and DNB and to suspend dividend distributions on the shares until further notice.”
Achmea’s Annual General Meeting will be held on Tuesday 28 April 2020. At the meeting, it will be proposed to add the profit for 2019 to the reserves.