NETHERLANDS – The Dutch competition authority has approved the previously announced merger between pension management firms Interpolis and Achmea.

According to the plans, Interpolis’ parent Rabobank and Vereniging Achmea will become the parent companies of the joint venture.

The authority, known as the NMa, stated that the venture would become active in the banking, insurance, pension administration, and labour and reintegration sectors.

After consultation and research, the NMa said it had not found any reason to expect competition constraints in their respective markets.

The new venture would increase its overall market share substantially, especially in the insurance and life segments.

The merger – to form the largest player in the Dutch market – was announced in April. Under the terms of the deal Interpolis will become a part of Achmea, while Rabobank would receive an increase shareholding position in Eureko, Achmea’s parent.