Insurance group Achmea booked net profit of €453m in 2012, overturning the €208m loss booked in 2011. The negative result was due to write-offs on its life activities and Greek state bonds.

Total revenue was up 9% at €25bn. ‘Despite the continuing difficult market conditions, the group’s different divisions booked satisfactory results,’ chief executive Willem van Duin said in a statement.

Achmea is the biggest player in the Dutch healthcare market and includes Zilveren Kruis and De Friesland among its brands.

The company did not make a profit forecast for 2013 but Van Duin said he hoped to trim costs by €200m by 2015.