Netherlands: Strong result for 2010 underscores robust position of Delta Lloyd Group

03 March, 2011

Commercial success; Gross written premium up 8%

• Gross written premiums rose organically by 8% to €4.8 billion (2009: €4.5 billion); including Germany, gross written premiums totalled €5.2 billion  
• Life written premiums in Belgium increased by 36% 
• Asset Management: net new assets of €762 million 
• Growth in banksparen continued: savings balances more than doubled to €715 million (2009: €297 million) 

Simplification of organisation: costs down 5%

• Operating expenses again lower and well below target at €924 million (2009: €976 million) 

Strong development of results (up 15%)

• Operational result after tax and non-controlling interests: up 15% to €422 million 
• Result before tax and non-controlling interests: €1,457 million (2009: €-124 million) before additional strengthening of longevity provision 
• Additional strengthening of longevity provision: €422 million net (€ 566 million before tax) 
•  Result after tax and non-controlling interests: €621 million 

Final dividend € 0.60 per ordinary share; total dividend for 2010: €1.00 (2009: € 0.50)

Equity (up 19%) and solvency demonstrate financial strength

• Shareholders' funds grew by 19% to € 4.6 billion 
• 91% tangible assets 
• IGD Group solvency stable at 199% (2009: 201%) 

Executive board chairman Niek Hoek: "This performance reflects our solid market position. Our operational result and shareholders' funds showed robust growth, while our solvency remained stable and well above target. Our immediate full provision for the increased longevity risk creates a healthy basis for our results going forward. It is good for our customers and shareholders to see that we are genuinely committed to achieving cost reductions and quality improvements.

"With our advanced risk management and marked-to-market balance sheet, it is clear where we stand. We are a sustainable financial services provider committed to delivering security and achieving solid progress. Our performance in 2010 reaffirms this."

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Presentations of 2010 results

Press conference: 3 March 2011, 9.30am
Analysts presentation: 3 March 2011, 11.30am
Location: Delta Lloyd Group, Amstelplein 6, 1096 BC Amsterdam

Both presentations can be viewed via webcast at www.deltalloydgroup.com.

Download 2010 Delta Lloyd full release in English (PDF 199KB)