Clearwater advises Achmea on the sale of Syntrus Achmea Pensioenbeheer to Centric

Clearwater advises Achmea and Syntrus Achmea Pensioenbeheer on the sale of pension activities to Centric

Clearwater has advised Achmea, one of the largest suppliers of financial services in the Netherlands, and Syntrus Achmea Pensioenbeheer (SAP), on the sale of part of the pension administration activities of SAP, to Centric, a Dutch IT firm.

The divestment comprised the financial administration, management support, legal advice, and pension communication activities for five mandatory industry pension funds with a total of 190,000 participants.

SAP, since January 2018 known as Achmea Pensioenservices, decided to focus entirely on pension services for corporate and occupational pension funds, therefore ceasing its services to mandatory industry pension funds. Achmea was pleased to transfer the activities for these pension funds to Centric, as Centric turned out to be the best-suited partner for the funds, due to its extensive knowledge of complex administrative processes and IT requirements.

Achmea Pensioenservices carries out the pension administration for, and provides pension advice to, company pension funds, occupational pension funds, voluntary industry pension funds, and the Centraal Beheer Generic Pension Fund. The company is a 100% subsidiary of Achmea, which is the largest insurance group in the Netherlands, with activities in five countries. With 15,300 employees, in 2017 the company realised a turnover of €19.3bn.

Centric offers software solutions, IT outsourcing, business process outsourcing, and staffing services. In 2017, the company employed 4,300 staff and had a turnover of €468m. Centric is active in the Netherlands, Belgium, Germany, Switzerland, Romania, Norway, Sweden, and Lithuania.