Delta Lloyd: commercial and operational performance shows robust progress
(Thomson Reuters ONE) -
Strategic and business highlights
* Increase in Life new business, NAPI[1] ? 342 million (9M 2014: ? 324
million), of which ? 182 million (9M 2014: ? 135 million) originated from
new defined contribution (DC) contracts
* Gross written premiums (GWP) General Insurance up 2% to ? 1,068 million[2],
combined ratio (COR) remained strong at 96.6%[3] (9M 2014: 95.8%(3))
* Update on capital and transition to Solvency II on 2 December 2015
Financial highlights
* IGD group solvency ratio of 181%[4] at end September (year-end 2014: 183%),
mainly impacted by assumptions recalibration
* Shareholders' funds -2% at ? 2,422 million at end September (year-end 2014:
? 2,468 million)
Hans van der Noordaa, chairman of the Executive Board:
"The first nine months of the year have shown a continued strong commercial and
operational performance. Our capital position and risk management remain our
main priorities. We have spent the last several months on a detailed analysis of
our capital position. We will update you on capital and transition to Solvency
II at our Investor Day on 2 December 2015."
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Key performance indicators
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(in millions of euros, unless otherwise stated) 9M 2015 9M 2014
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IGD group solvency ratio (compared to year-end 2014) 181% 183%
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NAPI 342 324
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Operational expenses 465 468
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Strategic and business overview
We made strong progress in executing actions aimed at creating a sound basis for
our future:
* We expect to announce our new CFO and member of the Executive Board shortly
* We are gearing the organisation towards a more agile and more customer
focused orientation
* We completed the sale of our non-core activities Delta Lloyd Bank Belgium
and Delta Lloyd Deutschland
* The shift from defined benefit (DB) to defined contribution (DC) has
accelerated
* We maintain a strong focus on the profitability of our new business
Customers
In the third quarter, we have taken new steps to meet our customers' and
business partners' demand for access to products and services at any time and
using any device. Later this year, we will launch the 'my Delta Lloyd' website,
where clients and advisors have access to information regarding their policies
and various self-service options. We launched a simplified application process
for online retail insurance products. For OHRA customers we implemented Touch ID
for the OHRA app; customers can log on to the OHRA app just using their finger
print. Customer satisfaction scores for Delta Lloyd and OHRA (both private and
commercial clients) over 2015 were higher than in 2014, and Net Promoter Scores
for all OHRA and Delta Lloyd commercial businesses were up.
Cost savings on track
In the first nine months of 2015, operational expenses amounted to ? 465 million
(9M 2014: ? 468 million), including the impact of higher pension service costs.
We have an ongoing commitment to drive cost efficiencies.
Important information
* This interim management statement contains figures for the first nine months
of 2015 for Delta Lloyd NV ('Delta Lloyd'), inclusive of Delta Lloyd
Levensverzekering, Delta Lloyd Schadeverzekering, ABN AMRO Verzekeringen,
Delta Lloyd Life Belgium, Delta Lloyd Asset Management and Delta Lloyd Bank
Netherlands.
* Delta Lloyd Deutschland and Delta Lloyd Bank Belgium have been sold; the
figures of these entities are excluded from the operational expenses and
commercial KPI's (a.o. Gross Written Premiums, Assets under Management and
New Business). However, the entities are not excluded from the IFRS-based
metrics (Delta Lloyd Deutschland is included for the first nine months and
Delta Lloyd Bank Belgium for the first seven months).
* Certain statements contained in this press release that are not historical
facts are "forward-looking statements". Forward-looking statements are
typically identified by the use of forward looking terminology such as
"believes", "expects", "may", "will", "could", "should", "intends",
"estimates", "plans", "assumes", "anticipates", "annualised", "goal",
"target" or "aim" or the negative thereof or other variations thereof or
comparable terminology, or by discussions of strategy that involve risk and
uncertainties. The forward-looking statements in this press release are
based on management's beliefs and projections and on information currently
available to them. These forward-looking statements are subject to a number
of risks and uncertainties, many of which are beyond Delta Lloyd's control
and all of which are based on management's current beliefs and expectations
about future events.
* Forward-looking statements involve inherent risks and uncertainties and
speak only as of the date they are made. Delta Lloyd undertakes no duty to
and will not update any of the forward-looking statements in light of new
information or future events, except to the extent required by applicable
law. A number of important factors could cause actual results or outcomes to
differ materially from those expressed in any forward-looking statement as a
result of risks and uncertainties facing Delta Lloyd and its subsidiaries.
Such risks, uncertainties and other important factors include, among others:
(i) changes in the financial markets and general economic conditions, (ii)
changes in competition from local, national and international companies, new
entrants in the market and self-insurance and changes to the competitive
landscape in which Delta Lloyd operates, (iii) the adoption of new, or
changes to existing, laws and regulations including Solvency II, (iv)
catastrophes and terrorist-related events, (v) default by third parties
owing money, securities or other assets on their financial obligations, (vi)
equity market losses, (vii) long- and/or short-term interest rate
volatility, (viii) illiquidity of certain investment assets, (ix) flaws in
underwriting assumptions, pricing and/or claims reserves, (x) the
termination of or changes to relationships with principal intermediaries or
partnerships, (xi) the unavailability and unaffordability of reinsurance,
(xii) flaws in Delta Lloyd's underwriting, operating controls or IT systems,
or a failure to prevent fraud, (xiii) a downgrade (or potential downgrade)
of Delta Lloyd's credit ratings, and (xiv) the outcome of pending,
threatened or future litigation or investigations, or other factors referred
to in this press release.
* Should one or more of these risks or uncertainties materialise, or should
any underlying assumptions prove to be incorrect, Delta Lloyd's actual
financial condition or results of operations could differ materially from
those described herein as anticipated, believed, estimated or expected.
* Please see the Annual Report for the year-ended 31 December 2014 for a
description of certain important factors, risks and uncertainties that may
affect Delta Lloyd's businesses.
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[1] New Annualised Premium Income, 10% of new single premium, 100% of new annual
premium
[2] Excluding terminated and run-off activities
[3] Excluding terminated and run-off activities and market interest movements
[4] Including the effect of 1pp from the sale of Delta Lloyd Deutschland
[5] Excluding Delta Lloyd Deutschland
Press release (ENG):
http://hugin.info/142905/R/1965696/717750.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delta Lloyd via GlobeNewswire
[HUG#1965696]
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2015 - 07:31 Uhr
Sprache: Deutsch
News-ID 433189
Anzahl Zeichen: 9532
contact information:
Town:
Amsterdam
Kategorie:
Business News
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