Achmea Bank acquires mortgages from a.s.r. up to an amount of 1 billion annually
Achmea Bank and a.s.r. reached an agreement to continue their cooperation in the mortgage field for three years. Each month during this period, Achmea Bank will acquire newly originated mortgages with a short-term fixed-interest period from a.s.r., up to an amount of €1 billion annually. In the new agreement, Aegon Asset Management will be acting as the relationship manager for Achmea Bank.
The acquisition will not affect customers in the portfolio; a.s.r. remains their point of contact and the agreement and terms and conditions will not change.
Pierre Huurman, chairman at Achmea Bank’s Executive Board: ‘Achmea Bank and a.s.r. have been working together in the mortgage field for quite some time now. The two organisations reinforce each other and so we are pleased to continue our strategic alliance. This extension underlines our growth ambitions in financial services.’
Patrick Klijnsmit, chief executive at a.s.r. asset management: ‘We have found in Achmea, for several years now, a suitable partner with a long-term vision and proven knowledge of mortgages. Today we announce the continuation of our three-year agreement from 2021. However, the true origin of our partnership in mortgages dates back from 2019, when Achmea Bank acquired the largest part of the then banking operations of a.s.r. bank. This turned out to be the start of a fruitful partnership in which we also confine a lot of trust in the future.’
Bas NieuweWeme, global chief executive at Aegon AM: ‘We are excited to play a part in this successful mortgage agreement. Our involvement follows the long-term strategic partnership we have with a.s.r., after the combination of Aegon’s Dutch insurance, pension, banking and mortgage origination activities with that of a.s.r.’
Achmea Bank and a.s.r. entered into a three-year alliance at the end of 2021. Since then, Achmea Bank has acquired the target volume of some €2 billion of mortgages from a.s.r. This was done mainly through portfolio transactions and also with newly-originated mortgages with a fixed-interest period of up to five years.
About Achmea Bank
Achmea Bank, part of the cooperative insurer Achmea, provides mortgages, savings products and investment services to the retail market in the Netherlands via the Centraal Beheer and Woonfonds labels. Achmea Bank is licensed to provide financial services under the Financial Supervision Act (Wft). Achmea Bank has a lending portfolio of approximately €13 billion and manages savings of approximately €8 billion. Achmea Bank is located in Tilburg. www.achmeabank.com.
About Aegon Asset Management
Aegon Asset Management is an active global investor. Our 389 investment professionals manage and advise on assets of €295.6 ($321.2/£259.8) billion (as of March 31, 2023) for a global client-base of pension plans, public funds, insurance companies, banks, wealth managers, family offices and foundations. We organize our investment capabilities around four focused investment platforms where we have extensive asset-class expertise: Fixed Income, Real Assets, Equities and Multi-Asset & Solutions. Each platform has dedicated teams, organized globally and committed to maximizing their specialist areas. These platforms and the Fiduciary business are supported by a team dedicated to responsible investing. By organizing our investment teams globally, we work to harness our expertise and research resources across regional boundaries. We believe this enhances our performance potential and helps provide better investment outcomes for clients. Across platforms, we share a common belief in fundamental, research-driven active management, underpinned by effective risk management and a commitment to responsible investment. Our investment platforms have the flexibility to organize their resources and processes to best suit their area of focus. We are a global business: Our 1,200 employees work across Europe, the Americas and Asia. We invest globally and serve clients locally. For more information about Aegon Asset Management, visit www.aegonam.com.
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