Netherlands: It's time to restore fair competition
31 January, 2011
Niek Hoek, CEO of Delta Lloyd Group, gave his New Year's speech on Monday, 31 January. Speaking to a gathering of customers and business partners of Delta Lloyd Group in the Concertgebouw, he looked back at 2010 and discussed various subjects, including the government's current role in the financial sector and the consequences for the market.
The CEO said that 2010 was another strong year for Delta Lloyd and the key focus was on enhancing trust, accessibility and simplicity. To this end, substantial investments were committed to making products better, easier to understand and more customer-friendly. Whilst keeping the customer's interests firmly in view, the organisation was radically simplified and costs were significantly reduced.
Niek Hoek went on to assert that the time had come to restore fair competition in the Dutch insurance market. After three years of government support, it is now time for the government-aided banks and insurers to stand on their own two feet again. Though the Dutch government needed to intervene at the start of the crisis, it must now work to increase the scope for fair competition, market dynamism and innovation.
Innovation has become a real core competence of Delta Lloyd Group, as is reflected in its sound investment and risk management strategy. The CEO pointed out that this enabled Delta Lloyd to maintain a strong balance sheet over the past years, even amidst extreme adverse economic conditions. "Today, as ever, we remain fully capable of offering our customers the security that is essential for a sustainable financial services provider like Delta Lloyd."
In conclusion, Niek Hoek mentioned the certificate that the Delta Lloyd Foundation received from the district authorities of Amsterdam South-East for its contribution towards promoting the financial self-reliance of the less advantaged in society.
The full text of the speech is enclosed and available on www.deltalloydgroep.com.
-ends-
Notes to editors
About Delta Lloyd Group
Delta Lloyd Group is a financial services provider offering life insurance, general insurance, fund management and banking products and services. Delta Lloyd Group's target markets are the Netherlands and Belgium. In the Netherlands it mainly operates under the brand names of Delta Lloyd, OHRA and ABN AMRO Insurance, in Belgium under the Delta Lloyd brand. Delta Lloyd Group employs 6,100 permanent staff and is listed on NYSE Euronext Amsterdam.
For more information please contact:
Delta Lloyd Group
Media relations +31 (0) 20 594 44 88
Investor relations +31 (0) 20 594 96 93
