Delta Lloyd Group and ABN AMRO Bank Netherlands are to continue their insurance joint venture. After previous indications that ABN AMRO had wanted to exercise its right to buy out Delta Lloyd Group, both parties have now decided to continue the successful partnership.
Delta Lloyd Group and ABN AMRO Bank Netherlands are to continue their insurance joint venture. After previous indications that ABN AMRO had wanted to exercise its right to buy out Delta Lloyd Group, both parties have now decided to continue the successful partnership.
The agreement now reached effectively represents the continuation of the original joint venture agreement concluded between Delta Lloyd Group and ABN AMRO Bank Netherlands in 2003. With this, the joint venture remains the exclusive insurance partner not only for the current but also for the future Dutch banking operations of ABN AMRO.
In light of the altered conditions in the past six months, the parties have decided that continuation of the current successful partnership is the most sustainable option. The partnership, which started in 2003, has yielded good results both in gross written premium and profitability. This decision also has the support of the Dutch State as shareholder of ABN AMRO.
Niek Hoek, CEO of Delta Lloyd Group: "The continuation of the joint venture fits in excellently with our strategy as a leading insurer to serve our customers through all distribution channels. In the past years we have shown we can make this joint venture a success for customers, employees and shareholders and we will now prove that once more."
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Further information:
David Brilleslijper
Telephone: (+31) 20 594 44 88
Notes to editors:
Delta Lloyd Group is a financial services provider that offers its customers security through a wide range of insurance, pension, banking and investment products. Delta Lloyd Group operates under the brand names of Delta Lloyd, OHRA and ABN AMRO Insurance. In 2007 Delta Lloyd Group achieved total income of € 9 billion, including € 6.6 billion in gross premium income. In 2007 the Group recorded a net result of € 781 million.