Dutch insurer Achmea is to launch a greenfield insurance operation in Australia, in co-operation with Rabobank.

Achmea Australia will be based in Sydney and should be operational later this year.

“The focus… will be on the food and agri market in Australia,” a spokesman told insuranceNEWS.com.au. “We are still in the licensing process with the regulators. After that there will be regional field testing.”

Achmea is the Netherlands’ largest general and health insurer and is active in seven other European countries.

Rabobank, also based in Holland, operates in 47 countries. It is one of Australasia’s largest rural lenders, providing corporate financial services to the food and agribusiness sectors.

Achmea’s CEO in Australia is Timo van Voorden, a former VP Operations and Transformation in the company’s head office.