Insurance company Achmea has set aside €315m for policy-holders who paid too much in costs on their investment-based savings schemes.

But two lobby groups representing victims said Achmea’s offer was far worse than deals already agreed with Delta Lloyd, ING, SNS Reaal and Fortis.
The Achmea offer covers 800,000 policies sold by Avero, Central Beheer, FBTO and Interpolis.
The issue of compensation relates to investment schemes which were sold to pay off mortgages or top up pensions. The final value of the policy would depend on investment results.
But huge costs attached to some policies means very little of the actual premium has been invested. Some six million investment-based policies have been sold since the beginning of the 1990s.
In 2008, the financial services sector ombudsman said that policy-holders faced with costs amounting to more than 3.5% of their total premium should get financial compensation.