On 30 December 2008 the merger between Delta Lloyd Life and Swiss Life Belgium was concluded.
On 30 December 2008 the merger between Delta Lloyd Life and Swiss Life Belgium was concluded*.
This took place through the notarisation of the document by notary F Liesse. The new entity thus becomes the fourth-largest player in the group insurance market and seventh in terms of individual life insurance policies. Delta Lloyd Life is also promoting its non-life insurance activities on the Belgian market under the highly valued trading name, Zelia. The trading name Swiss Life disappears from the Belgian market from 1 January 2009.
Delta Lloyd Life and the former Swiss Life Belgium bring together 585 employees and achieved gross revenue from premiums in 2007 of approximately 820 million euros. Delta Lloyd Life is looking in the future to shore up its prominent position in the medium and large enterprise sector and to continue to increase its visibility amongst private clients and the self-employed. The Delta Lloyd Life board of directors is made up of five members and is chaired by CEO Frank Blankers.
A strengthened market position together
As a result of this takeover Delta Lloyd Life climbs from 11th to fourth place in the Belgian Top 10 group insurance providers. In terms of individual life insurance policies too, Delta Lloyd Life moves from ninth to seventh place.
Zelia’s non-life insurance activities provide robust supplementary business and strengthen Delta Lloyd Life in three areas: customers, fellow professionals and distribution.
The combined product range offers the customer a wider choice of insurance solutions, tailored to his or her financial requirements and stage in life.
A stronger player in a solid financial group
Delta Lloyd Life is a constituent part of the Delta Lloyd Group, an insurer with over 200 years’ experience and history. Delta Lloyd Group’s financial position is strong. With a solvency rating of at least double that required by law, Delta Lloyd Group’s financial position remains exceptionally good, despite the credit crisis.
Delta Lloyd Group is also one of those Dutch insurers that do not require any state support. That is why Standard & Poor’s has reaffirmed its very high AA- (stable outlook) assessment of Delta Lloyd Group.
Financial details
A further two separate annual accounts are being submitted by Delta Lloyd Life and Swiss Life Belgium for the end of the 2008 financial year. Both annual accounts ending on 31 December 2008 are being submitted during May 2009. From 1 January 2009 onwards the activities of the merged company will contribute to the consolidated financial results of Delta Lloyd Life.
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* Subject to the ruling of the CBFA: Delta Lloyd Life is authorised to provide its services freely in the 15 countries of the European Economic Area, each of whom in turn must formally make known any objections that they may have to the merger by the beginning of February 2009.