Insurer Achmea expects higher health insurance premiums in 2018

Achmea is preparing for an increase in health insurance premiums next year, CEO Willem van Duin hinted at while discussing the insurer's half-year figures on Thursday, ANP reports.

"In recent years, health insurers limited the price increase buy using our reserves. That is obviously not a sustainable situation", the CEO of the Netherlands' largest insurer said. Last year Achmea reserved an amount of over 430 million euros to compensate for premiums that weren't covering costs.

Earlier this month insurer DSW also stated that health insurance premiums may increase by an average of 30 euros per year. In response the Ministry of Public Health and industry association Zorgverzekeraars Nederland stressed that the health insurance premiums for 2018 are not fixed yet. Certainty over rates will only come in November.

Achmea managed to improve its performance in the first half of this year, according to ANP. The insurer reduced expenses by 8 percent and also increased its income from premiums for health- and damage insurance. This resulted in a net profit of 171 million euros, compared to a loss of 26 million euros in the same period last year.