Achmea profits disappear

Profits of the insurer Achmea decreased drastically over the previous year, reaching the level of 16 million euros, reports De Telegraaf. The contraction is dramatic compared to 2013 when Achmea accumulated over 120 million euros in profits over the first two quarters en route to a 344 million euro profit for the year.

Last year, the insurer spent 239 million in reorganization, with another 143 million euros had to be written off. Shrinkage in the operational revenue from 542 million in 2013 to 388 in 2014 accompanied the expenditures, diminishing the profit margin.

By the end of 2016, Achmea now intends to reduce the number of provided jobs by 4,000.

Achmea is one of the largest providers of financial services in the Netherlands that currently employs around 17,000 workers, and has been operating since 1811.