Netherlands: Delta Lloyd Group further strengthens financial base

• Net operational result¹ up 19% at €366 million
• Shareholders’ equity² 23% higher
• Proposed dividend of €0.50 per ordinary share

• Net operational result up 19% at €366 million (2008: €308 million)
• Operational result before tax €541 million (2008: €455 million)
• Net result³ (IFRS) -€124 million (2008: -€161 million)
• Shareholders’ equity: €3,888 million, up 23% on 2008 level (€3,150 million)
• Operating expenses: €976 million, down 13% on 2008 level (€1,122 million)
• Solvency⁴: strengthened to 201% (regulatory) and 256% (IFRS)
• Life Insurance: embedded value (MCEV) up 23% at €4.2 billion
• General Insurance: combined ratio of 98%
• Belgium: integration of activities makes good progress, excellent result
• Germany: intention to cease sales of new business
• Mortgage business: Arena transaction of €0.9 billion reopens continental European securitisation market
• Organisation: focus in 2010 on simplification of organisation and efficiency enhancement
• Stock exchange listing: included in Midkap (AMX index) from 2 March 2010

Executive board chairman Niek Hoek of Delta Lloyd Group, said: "Delta Lloyd Group once again demonstrated its solidity and financial strength in 2009. This was not only reflected in the successful IPO in challenging economic times, but definitely in the reinforcement of shareholders’ equity by 23% to €3.9 billion. The latter was accomplished despite the IFRS-based result of -€124 million, which was caused partly by the negative results on hedging transactions and impairments. The operational result developed strongly, underpinned by the cost reductions we were able to achieve.

"Delta Lloyd Group’s solvency improved substantially. Our proven risk management, which is aimed at protecting the interests of our stakeholders, contributes to this stability and reliability, which is also reflected in a dividend of €0.50 per share. In short, the objectives we set at the time of the IPO were virtually achieved in a challenging market. The focus of our prudent approach will remain on margin improvement and volume growth in 2010. We expect growth opportunities in group pensions, in our bank products and in our online insurance products."

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¹ 

Operational result after tax and non-controlling interests
² Total share capital and reserves excluding non-controlling interests
³ Result after tax and non-controlling interests
⁴ Insurance solvency

For further information:
David Brilleslijper
Corporate Communications
Telephone: (+31) 20 594 44 88 (press) (+31) 20 594 96 93 (analysts)