Delta Lloyd is launching a review of the consequences of the planned acquisition of Erasmus. Erasmus employees were notified about this on 1 October. A few matters are subject to the agreement of the Works Council and the Dutch Central Bank.
Delta Lloyd is launching a review of the consequences of the planned acquisition of Erasmus. Erasmus employees were notified about this on 1 October. A few matters are subject to the agreement of the Works Council and the Dutch Central Bank.
The reasons behind the review are the change in market circumstances, the heavy competition as regards premiums and the need for low cost ratios on the indemnity insurance market. A strong capital basis is also important, into the bargain. Delta Lloyd expects to be able to consolidate its position on the personal indemnity insurance market through expansion and efficiency improvements. Delta Lloyd feels that it can grow in the personal life insurance market through innovation and strength.
Coming months
On 15 October 2008 the opinion request will be submitted to the Works Council. A review of the transition of Erasmus's Indemnity Insurance Section to Delta Lloyd Insurance will be set in motion following the opinion request. Erasmus's Life Insurance Section will continue to operate from Rotterdam as an independent label of Delta Lloyd Life.
Consequences for Erasmus employees
The decisions impact on the Erasmus employees in Rotterdam. The review into the Erasmus acquisition will clarify matters with regard to the consequences for the Indemnity Insurance Section employees. The review is set to start in October.
Consequences for brokers
The current contacts at Erasmus are still available for brokers. Careful attention will continue to be paid in the coming period to continuity, customer orientation and service. Erasmus has informed brokers.
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Further information:
Marijke Peijnenburg
Delta Lloyd Insurance Spokesperson
Telephone: (020) 594 2939
E-mail: pers@deltalloyd.nl