Netherlands: Strong first half for Delta Lloyd Group

• Net operational result up 5% to €167 million 
• Shareholders' funds grow by €666 million to €4.6 billion 
• Interim dividend of €0.40 per ordinary share
• Regulatory solvency 178%, BIS ratio of Delta Lloyd Bank 12.2%
• IFRS result € 1.069 million (H1 2009: €379 million), net result €767 million (H1 2009: €211 million), thanks to strong investment performance in a volatile market environment
• 5% organic growth in gross written premiums to €2,892 million  
• Belgian life business successful: 48% growth in gross written premiums  
• Net new assets of investment funds more than doubles: €825 million (H1 2009: €345 million)
• Continued growth in bank savings balances (up 78% compared to year-end 2009)
• Refined strategy and simplified organisation
• Organisational simplification yields €100 million in extra cost savings in 2011-2012
• Success of refocused consumer policy centres even more on customer interests.

Delta Lloyd Group enjoyed a good half year. The main targets were achieved and Delta Lloyd Group's strong independent financial position was particularly evidenced by the 17% growth in shareholders' funds. Customers are increasingly opting for bank savings products, and savings account balances increased strongly to €529 million. Life and general premium volume also grew compared with the same period in 2009. Belgium is an important life insurance market; premiums written rose by 48%. In line with the solid developments, the Group is paying an interim dividend of €0.40 per ordinary share.

Executive board chairman Niek Hoek:  "The first six months of this year went well. The IFRS net result is high but is a very volatile indicator, so we primarily measure our performance by the growth in shareholders' funds and operational result. We are meeting our commitment to shareholders to pay a stable dividend, based on the good operational result and healthy solvency.

"This confirms our solid position in the financial services market. In the next few months, we will be working hard on providing an even better service to our customers under the Group's refined strategy. By simplifying the organisation, by further improving processes, products and communications and by generating structural cost savings. This will help us implement our strategy and provide our customers with the transparent and reliable products and services appropriate to the current times."

Commentary on the results for the first six months of 2010
Press conference:           5 August 2010, 9.30 am
Analyst presentation:      5 August 2010, 11.30 am
Location:          Delta Lloyd Group, Amstelplein 6, 1096 BC, Amsterdam

Please see the PDF for full press release (PDF 182KB)

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