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Retain top-three and top-five positions in individual Life and Pension insurance, respectively, in the Netherlands Improve our Value New
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Eureko operates its Life and Pensions business in the Netherlands, Ireland, Greece, France, Slovakia, Romania, Bulgaria and Cyprus.
Achmea has a top position in the saturated life market. In 2009, estimated market share in Life insurance declined to 12% (2008: 14%) and our share of the Pension insurance market remained stable at 11%.
In the bank channel of the life business, Interpolis still generates the largest part of our Life insurance premiumsan with an estimated market share of 6% (2008: 9%).
In the Life business through the direct channel we have a moderate, stable market share (estimated at 3%).
Through our Avéro Achmea brand we offer Life insurance products to the broker channel.
In the European life business market Eureko operates in Ireland, Greece, Romania, Slovakia, Bulgaria, Cyprus and France.
The following information offers a high-level overview of how Embedded Value developed in 2009. Eureko publishes a separate Embedded Value report,
VNB outside the Netherlands increased from €8 million in 2008 to €14 million at the end of 2009. VNB margins improved from 0.7% to 1.7%.
VNB is under pressure in the Dutch divisions. In the current financial markets, sales are too low to cover expenses and improve VNB results.