NETHERLANDS – Dutch health care sector pension fund PGGM has named Jan Overmeer to its three-strong investment board committee.

Aegon will join the €71.5bn scheme when he retires from the board of insurance group Aegon on April 1, where he has overseen asset management, corporate and institutional clients and the TKP Pensioen business.

Overmeer joins Herman Wijffels and Jan Frijns on the board. He joined Aegon as a member of the management board in 1990. The company said in December last year that he would be replaced by institutional chief Erik van Houwelingen.

Last week Zeist-based PGGM disclosed that its coverage ratio was 119% at fair value, up 2 percentage points.

Else Bos, managing director, investments at PGGM said that the coverage ratio improved slightly, to 16.3% from 10.9%, as a result of good investments, taking into account last year’s declining interest rates.

She said that non-traditional asset classes did exceptionally well, private equity having a return of 33.5% and commodities 26.9%. The yield on PGGM’s equity investments was 21.2%, bonds 4.5% and real estate 17.6%.