Dec. 4 (Bloomberg) -- Achmea BV, the biggest insurer in the Netherlands, plans to cut a fifth of its workforce in the next three years as more customers switch to online services.
The mutual insurer, which offers health care, property and casualty, pensions and life insurance, expects to cut 4,000 jobs of 19,000 employees in the Netherlands and other countries, the Zeist-based company said in a statement today. Compulsory job losses can’t be ruled out, it said.
The cuts are in addition to a program announced in 2009 to eliminate 2,500 jobs by 2011. Achmea, formerly known as Eureko, had 19.7 billion euros ($26.8 billion) in gross written premiums in 2011, according to the Dutch Association of Insurers, a trade group representing more than 95 percent of the industry. Rabobank Groep owns about 29 percent of the company.
“Our eight million customers are doing more and more online and also want to be able to arrange their insurance in that way,” Chairman Willem van Duin said in the statement. “That is why we’re accelerating our adjustments.”
--Editors: Jon Menon, Steve Bailey