Decision to opt for sustainable growth pays off
Financial
- Result before taxation doubles to € 474 million, the result after taxation doubles to € 378 million, partly due to rising long-term interest rates.
- Gross premium income stable at over € 3 billion
- Group solvency further improved to 271% (+ 64pp).
Operational
- Margin on new life business rises through focus on profitable growth.
- COR on general insurance operations continues to improve, falling to under 90%.
- Net new assets of Delta Lloyd mutual funds grow substantially to € 609 million, particularly thanks to the successful distribution through the banking channel.
Strategic
- Health strategy takes further shape through announced collaboration between the health insurers of Delta Lloyd Group, Agis and Menzis.
- Distribution power strengthened by rebranding of German activities in Delta Lloyd Leben.
Niek Hoek, Executive Board chairman of Delta Lloyd Group:
‘The results of the first six months of 2006 clearly show that our strategy is paying off. The focus on profitability is helping to increase margins, and our programmes to promote customer loyalty are proving effective. Our prudence in the previous financial year helped to boost profit in the period under review. Nor are we losing sight of the need for commercial strength: the collaboration with banks such as ABN AMRO Bank and Rabobank in the sale of mutual funds is producing good results.’
Delta Lloyd Group key figures1
| Delta Lloyd Group key figures1 | |||
|---|---|---|---|
| (in millions of euros) | Half-year 2006 | Half-year 2005 | Change |
| Result before taxation | 474 | 238 | 99% |
| Net result after taxation | 378 | 189 | 100% |
| Gross premium income | 3,164 | 3,260 | -3% |
| - of which gross premium income Netherlands | 2,812 | 2,756 | 2% |
| Shareholders' equity | 3,852 | 3,145 | 22% |
| Solvency | 271 | 207% | 64pp |
1Including Delta Lloyd Insurance, OHRA Insurance, ABN AMRO Insurance, Delta Lloyd Banking, Delta Lloyd Asset Management, Delta Lloyd Life Belgium and Delta Lloyd Germany.
For more information
Please contact David Brilleslijper, Corporate Communication Director, Delta Lloyd Group, tel +31 20 – 594 44 88
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