2004 key figures for Delta Lloyd Group Including Delta Lloyd Insurance, OHRA Insurance, ABN AMRO Insurance, Delta Lloyd Banking, Delta Lloyd Asset Management, Delta Lloyd Belgium, Delta Lloyd Germany and ENNIA.
2004 key figures for Delta Lloyd Group
Including Delta Lloyd Insurance, OHRA Insurance, ABN AMRO Insurance, Delta Lloyd Banking, Delta Lloyd Asset Management, Delta Lloyd Belgium, Delta Lloyd Germany and ENNIA.
- Result before taxation and exceptional items €409 million (+32%)*
- Net result €302 million (+22%)*
- Total group income €8.0 billion (+9%)
- Total gross premium income €5.6 billion (+13%)
- Shareholders’ funds €2.6 billion (+18%)
- Total assets under management €47.0 billion (+14%)
- Solvency of Dutch insurance operations 240% (year-end 2003: 220%)
- BIS ratio of Delta Lloyd Banking 12.8 (year-end 2003: 14.4)
Delta Lloyd Group can look back on an excellent 2004, with pre-tax and after-tax results both hitting record levels at €409 million and €302 million respectively. This good performance was partly attributable to the stable cost level, while premium income showed healthy organic growth of 13% to more than €5.6 billion.
In the life insurance & pensions sector in particular, Delta Lloyd Group is a prominent player. Gross Life & Pensions premium income increased to €3.6 billion (+16%) and new business in NAPI terms (consisting of 10% of new single premiums and 100% of new annual premiums) also made good headway.
Full-year NAPI rose to €321 million (+16%) in the Netherlands, to €81 million (+35%) in Germany and to €67 million (+54%) in Belgium. With total Life & Pensions gross premium income of €2.5 billion (+13%) in the Netherlands, Delta Lloyd Group is Dutch market leader in terms of new life and pensions business.
General premium income surged 16% to €1.1 billion, boosting the result to €135 million. All units contributed to this sterling performance. The premium income of ABN AMRO General soared 72% to €295 million. Health premium income was marginally lower at €834 million due to the termination of the underwriting activities of Delta Lloyd Health.
Delta Lloyd Banking achieved strong profit growth, and reinforced its position in the mortgage market with mortgage origination of €2 billion. The Group’s assets under management advanced €47 billion (+14%), mainly due to several large group contracts. Net new assets of Asset Management, through investments in mutual funds and mandates, totalled €1.2 billion (+61%).
(*) Based on disclosed 2003 results. In 2004, Delta Lloyd switched over to new accounting principles, with all realised capital gains on shares and property being taken to the profit and loss account. To this end, the net results for 2003 have been restated on the basis of the new regulations and are therefore not directly comparable with data disclosed previously. An extensive explanation to this can be found on pages 6/7, while the restated results are also shown in the consolidated profit and loss account on page 12. These changes have no impact on the Group’s shareholders’ funds.
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For more information
Please contact David Brilleslijper, Corporate Communication Director, Delta Lloyd Group, tel +31 20 – 594 44 88