Insurance group Achmea on Tuesday reported a strengthened financial position in the first half of 2015.

The operational result doubled from €142m in the year earlier period to €285m.

Net profit reached €272m compared with €16m over 2014 as a whole when a major reorganisation cut into the group’s earnings.The solvency ratio increased to 225% from 215%.

‘Net profit improved as a result of lower operational expenses, higher investment results and an incidental positive result in the health insurance segment,’ chief executive Willem van Duin said in a statement.

According to Van Duin the reorganisation, which will see the 17,000 workforce reduced by 4,000 by the end of 2016, is proceeding according to schedule. The aim of the ovehaul is not only to cut costs but to improve customer services,  he said.