Achmea Pension & Life Insurance reinsures half of its longevity risk

Today, Achmea and Achmea Pension & Life Insurance, the joint venture between Achmea and Sixth Street established on 1 October 2025, announce the completion of two longevity reinsurance transactions by Achmea Pension & Life Insurance. Together, the transactions cover an amount of approximately € 8 billion in pension liabilities and roughly half of Achmea Pension & Life Insurance’s longevity risk exposure. As a significant strategic milestone, the transactions materially strengthen Achmea Pension & Life Insurance’s capital position and provide additional financial capacity to accelerate growth in pension buyouts and further optimise its investment portfolio.

The agreements have been entered into with Munich Re and Pacific Life Re, two leading global reinsurers. The risk transfer is effective as of 1 January 2026, with the agreements remaining in force until the portfolio has fully run off. Services and guarantees provided by Achmea Pension & Life Insurance to its policyholders are unaffected by the transaction.

Arthur van der Wal, Chief Executive Officer of Achmea Pension & Life Insurance: “Transferring roughly half of our longevity risk exposure is a deliberate and significant next step in executing our long-term strategy. The associated capital benefit will support our strategic growth ambitions in the area of pension buyouts, as well as the further optimisation of our investment portfolio. This will be done in close collaboration with Sixth Street and Achmea Investment Management.”

At year-end 2025, Achmea Pension & Life Insurance’s Solvency II ratio was 187%. Based on the capital position per year-end 2025, the longevity reinsurance transactions announced today are expected to lead to an increase in the Solvency II ratio of about 49%-points. Directly related to this, Achmea’s Solvency II ratio, which stood at 193% at year-end 2025, is expected to increase by about 11%-points.

Further details will be shared during Achmea’s online Investor Update on 14 April 2026.

Aon acted as advisor on the transactions, with Hogan Lovells providing legal advice to Achmea Pension & Life Insurance.