Maarssen, 8 April 2025, 6 pm CET – Strategic partnership announced with Achmea, solvency on target level despite volatility, and continued focus on long-term guarantees.
- Strategic joint venture between Sixth Street, Achmea, and Lifetri announced, creating a top three Dutch pension and life Insurance provider.
- Significant opportunities exist in the pension buy-out market.
- Solvency II ratio at year-end 157%, reflecting the impact of interest rate changes, regulatory adjustments and the continued support from the shareholder with capital injections of total € 50 million.
- Net result was € -46 million, primarily due to interest rate effects and UFR step-down, partially offset by lower operating expenses.
- Asset portfolio continued to deliver strong investment results.
Rutger Zomer, CEO of Lifetri
“2024 was a transformative year for Lifetri. Our strategic goal has always been to provide long-term guarantees, with a particular focus on the pension risk transfer market. However, slower-than-expected market development and limited commercial traction led us to reassess our approach. As a result of this strategic review, we announced a landmark joint venture between Achmea, Sixth Street, and Lifetri. This new entity becomes a top three pension and life insurance provider in the Netherlands.
This partnership strengthens our financial position and market standing while delivering significant benefits to all stakeholders. Employees will transition to an established, future-proof employer with strong career development opportunities. Policyholders will gain access to enhanced services under the joint-venture, including an integrated digital platform. For our shareholder and bondholders, this means the joint venture is well positioned to capitalize on the growth in the pension buy-out market.
The financial year was marked by continued volatility in interest rates, affecting our solvency and net result. Our Solvency II ratio is on target level, decreased from 185% to 157%, reflecting the impact of interest rate developments, the step-down of the Ultimate Forward Rate, and basis risk effects, as well as capital injections of total € 50 million from the shareholder. Our operational efficiency improved, with total operating expenses decreasing from € 27.3 million in 2023 to € 24.4 million in 2024. We also focused on strengthening governance, risk management, and investment processes.
Looking ahead to 2025, we are focused on completing the integration of the joint venture with Achmea and leveraging our combined expertise to drive growth in the pension and life insurance market. We are confident that this strategic move will secure a strong future for Lifetri and all our stakeholders.”
Publication Annual Report
Today, Lifetri Groep B.V. published its Annual Report 2024, as well as the Annual Reports 2024 of Lifetri Verzekeringen N.V. and Lifetri Uitvaartverzekeringen N.V.
- Lifetri Groep BV Annual Report 2024 (pdf, 2 mb)
- Lifetri Uitvaartverzekeringen NV Annual Report 2024 (pdf, 2 mb)
- Lifetri Verzekeringen NV Annual Report 2024 (pdf, 2 mb)
- Lifetri Groep BV Solvency & Financial Condition Report (pdf, 2 mb)
Media contacts
Kees Jongsma, SPJ Financiële & Corporate Communicatie
cjongsma@spj.nl / +31 654 798 253
About Lifetri
Lifetri Groep (Lifetri) is a Dutch insurance group with a history that goes back seventy years. Lifetri is located in the Netherlands and under supervision of the Dutch regulators, the Dutch Central Bank (De Nederlandsche Bank) and the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten).
Lifetri focusses on guaranteed pensions, term life and funeral insurance in the Netherlands, servicing over 550,000 customers. Lifetri currently provides pension guarantees to (former) employees of Allianz Nederland and Klaverblad Verzekeringen.
Lifetri’s principal shareholder is Sixth Street. Sixth Street is a global investment firm with over $100 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 650 team members including over 280 investment professionals around the world.
Disclaimer
This press release is released by Lifetri Groep B.V. and contains information that qualifies or may qualify as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).
This press release exclusively contains factual information and must not be interpreted as an opinion or recommendation with regard to the purchase or sale of securities issued by Lifetri Groep B.V. This press release does not contain any value judgements or predictions with regard to the financial results of Lifetri Groep B.V. and/or its subsidiaries.
This press release contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation and should be read in combination with the Annual Report 2024 of Lifetri Groep B.V.
