Delta Lloyd Group again achieved an excellent performance in the first six months of 2007.
€ 380 million net result and rising premium income
Delta Lloyd Group again achieved an excellent performance in the first six months of 2007. The result of € 380 million after taxation equalled the record 2006 result. An increase in gross premium income to € 3.4 billion, good investment returns, rising interest rates and the release of provisions contributed to this performance. The restructuring aimed at fuelling continued strong growth in the coming years is well on track.
Executive Board chairman Niek Hoek: "Delta Lloyd Group has managed to repeat the excellent performance of 2006 at Delta Lloyd, OHRA and ABN AMRO Insurance in the first half of 2007. Life and General performed particularly well. Rising premium income, improved margins and solid investment return underpin the outstanding net result. We are clearly reaping the fruits of our investment strategy and our prudent provisioning policy, which is the basis for our financial reliability."
Financial: excellent first half
- Gross premium income up 7% to € 3.4 billion
- Net result of € 380 million is at the 2006 record level (€ 378 million)
- Solvency at 326% of statutory minimum and shareholders’ equity of € 5.4 billion (+33%) are developing very well
Operational: profitability increases
- New life business margin improves 0.5 percentage point to 1.6%
- Embedded value at € 6,282 million; up 28% compared to first half 2006
- The Belgian activities show a strong improvement of results
Strategic: 'The Future Secured' strategy makes good progress
- Alliance with CZ gives Health the necessary scale and creates good cross-sell opportunities at Group level
- Takeover of Cyrte Investments strengthens position in distinctive fund management strategies
- Delta Lloyd Insurance acquires Erasmus Group
- The Sharing programme, which is aimed at enhancing efficiency and boosting growth, takes shape at Health, IT, OHRA and General
Delta Lloyd Group key figures1
| Delta Lloyd Group key figures1 | |||
|---|---|---|---|
| (in millions of euros) | Half-year 2007 | Half-year 20061 | Change |
| Result before taxation | 466 | 474 | -6% |
| Net result after taxation | 380 | 378 | 1% |
| Gross premium income | 3,400 | 3,164 | 7% |
| - of which gross premium income Netherlands | 3,022 | 2,812 | 7% |
| Shareholders' equity | 5.366 | 4,030 | 33% |
| Solvency | 326% | 271% | 55 pp |
1Figures as reported on 9 August 2006, see page 2 of this release for further information
Contact
David Brilleslijper
tel (+31) 20 594 44 88
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