Syntrus Achmea has received a mandate to manage a government bond portfolio for Achmea worth around €8 billion. The portfolio consists mainly of insurance premiums invested for Dutch customers. Syntrus thus continues to expand its role in Achmea's asset management.
Achmea chose Syntrus Achmea following a selection process in which quality of service, risk management and good investment performance were key criteria. Syntrus Achmea has proven that it can achieve good returns within the chosen risk profile. Both parties operate on the same cooperative principles.
In 2012, Achmea awarded a mandate to Syntrus Achmea to manage alternative investments of almost €1 billion. Syntrus Achmea also took over the management of the part of Achmea's derivatives portfolio used to hedge its balance sheet risk. The underlying value of this portfolio is €20 billion. Achmea's real estate portfolio has been managed by Syntrus Achmea for some time. Achmea's total investment portfolio was worth around €42 billion as at 30 June 2013.
Huub Arendse, Achmea's Chief Financial Officer: "We take a multi-manager approach, imposing strict quality and outsourcing requirements. On that basis, we have selected Syntrus Achmea as an ideal partner to manage this large government bond portfolio."
Hans Snijders, chairman of Syntrus Achmea's Management Board: "We are proud to be awarded such a large management mandate. Achmea sets the highest quality standards when outsourcing management of its investment portfolio. We meet Achmea's standards in all respects."