Health insurance companies can cut their premiums because they have almost €6bn more in their financial buffers than required by law, says the consumers association Consumentenbond.

The four big insurance companies, Achmea, CZ, Menzis and VGZ, made combined profit of €1.4bn last year, up 16% on 2012. They also have almost €10bn in their reserves but only need €3.9bn by law, the organisation points out. The four control 90% of the market.

‘This drive to set money aside is unnecessary,’ the organisation’s director Bart Combée is quoted as saying by broadcaster Nos. ‘Buffers are needed but these are very high. We want this money to go back to consumers.’

On Monday, insurance group DSW said it is freezing its fees for 2015. The cabinet said at the presentation of its 2015 spending plans it expected a €10 rise in monthly premiums.