Achmea Settles Insurance Policy Dispute For $439M

Law360, New York (May 26, 2009, 12:00 AM EDT) -- Achmea Holding NV, the Dutch life insurer owned by Eureko BV, has earmarked €315 million ($439 million) to settle claims that it overcharged policyholders in order to offset costs and commissions related to investments.

Approved by the Dutch Financial Services Ombudsman, the deal involves nearly 200,000 investment-based insurance policies taken out under four Achmea labels — Avero Achmea, Centraal Beheer Achmea, FBTO and Interpolis and their predecessors — before Jan. 1, 2008, that will qualify for compensation upon expiration, the Zeist, Netherlands-based insurer said Tuesday....
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