NETHERLANDS - Dutch insurance groups Achmea and Interpolis have launched their recently-combined pension fund administrator arm as Syntrus Achmea.
The new business, which combines PVF Achmea, Interpolis Pensions, Achmea and Interpolis' real estate arms, and Interpolis Pensions Asset Management, is a direct consequence of the Achmea/Interpolis merger.
The merger was announced in 2005 when Interpolis-owner Rabobank took a stake of 5% in Eureko, the parent company of Achmea. The two combined are now the largest insurer in the Netherlands.
"The new entity has preserved its identity as administrator of the pensions of around five million members," read a news release this morning.
With over 80 industry-wide and company pension funds now in its portfolio, Syntrus Achmea is the largest pension administrator in the Netherlands in terms of number of members, followed by ABP and PGGM.
The company added the merger has made Syntrus Achmea the third largest in terms of outsourced pension asset management.
Guus Wouters, chief executive officer of the entity, commented yesterday the new brand would make things clearer for the two firms' customers.
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