The Netherlands' Achmea, Lifetri and Sixth Street have finalised a strategic partnership, officially launching Achmea Pension & Life Insurance N.V., which will focus on sustainable growth and customer-centric solutions.

The partnership, initially announced in November 2024, has now received all necessary regulatory approvals and a positive recommendation from the Works Councils.

It consolidates the pension and life insurance portfolios of Achmea and Lifetri into a single joint venture designed to strengthen their position within the evolving Dutch pensions landscape.

Under the terms of the agreement, Sixth Street, which owns Lifetri, will acquire a 20.45 per cent stake in the joint venture through the contribution of Lifetri and a payment of €461m to Achmea.

The firms claimed the partnership is expected to generate an additional €100m in capital from 2028 onwards, with a limited impact on Achmea’s overall capital position.

The newly formed entity aims to capture a 20 per cent market share in the growing pension buyout segment, a market expected to see between €20bn and €30bn in opportunities in the coming years as Dutch pension reforms drive further fund consolidation and increased demand for insured solutions.

Indeed, Achmea completed its first buyout under the new structure earlier this year, acquiring €1.5bn in pension obligations from FrieslandCampina.

The joint venture will be led by chief executive officer, Arthur van der Wal, effective 1 October 2025.

Van der Wal, formerly chair of Achmea’s Pension Division, has overseen preparations for the launch since January 2025.

He is joined by CFO, Mohamed Ahmadan, CRO, Theo de Ruijter and COO, Hanneke Scherjon.

Meanwhile, the supervisory board includes chair, Daphne de Kluis, Michel Lamie, Rohan Singhal, Else Bos, Delfin Rueda Arroyo, and Mike Nawas.

Lifetri confirmed that its customers with funeral, life, and pension insurance will continue to receive services under Achmea’s 'Centraal Beheer' brand, gaining access to its digital platform, which offers a full range of insurance, savings, and investment products.

However, all Lifetri employees will transfer to Achmea as part of the integration.

Achmea and Sixth Street will also collaborate on investment activities for the joint venture.

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