Gerard van Olphen leaves Achmea and becomes CEO at SNS Reaal

Gerard van Olphen, Chief Financial & Risk Officer of the Executive Board of Achmea, stands down as of 1 February and becomes CEO at SNS Reaal with immediate effect. Achmea announces this following a press conference hosted by the Dutch Ministry of Finance earlier today.

Mr. Van Olphen has been a member of the Executive Board of Achmea since 2002. In 2003 he was appointed CFRO of the Group and in 2008 Vice-Chairman of the Executive Board. Over the last decade, Achmea has become the largest insurer on the Dutch market. This position resulted from the effects of the privatisation of the Dutch health insurance sector combined with mergers of Achmea with other cooperative and mutual insurers, including the merger with Interpolis in 2006.

Willem van Duin, Chairman of the Executive Board of Achmea: "Gerard has been of great value to the Group, both in times of growth and in times when the Executive Board has had to pull out all the stops to deal with the financial crisis and the fast-changing markets. As his colleagues in the Executive Board we respect his motivations and the choice that has been made. We wish him every success with the important challenge that lies before him in his new position."

Erik van de Merwe, Chairman of the Supervisory Board: "Achmea has had a capable and versatile CFRO who, together with his colleagues, has made a major contribution to what Achmea has become and its current sound position on the Dutch and European markets. After 11 years of service with Achmea, we were discussing plans for his future with him for the last few months. His departure was part of these discussions and was decided upon by mutual agreement. We see it as a compliment to him and to Achmea that he has been asked to take on the position at SNS Reaal."

In the coming weeks the Supervisory Board will seek a successor for Mr. Van Olphen in the Executive Board. Until then, Gerard van Olphen's responsibilities will be assumed by Willem van Duin.