Delta Lloyd Groep : Steady commercial performance with strong capital generation

    Delta Lloyd Groep : Steady commercial performance with strong capital

Steady commercial performance in challenging markets

  *Total gross written premiums declined by 7% to €1.4 billion (first
    quarter 2012: € 1.5 billion)

           *NAPI^[1] of € 89 million (first quarter 2012: € 94 million)
           *Life gross written premiums 10% lower at € 951 million (first
             quarter 2012: € 1,053 million), as no large single premium
             contracts were signed

           *General Insurance gross written premiums stable at € 466 million
             (first quarter 2012:
             € 464 million)

  *'Banksparen' balances up 6% to € 1.9 billion (year-end 2012: € 1.8
    billion); growth continued in spite of lower rates

  *Inflow of retail funds and institutional funds/mandates increased to € 314
    million (first quarter 2012: € -282 million), due to ongoing strong demand
    for retail funds

Stable shareholders' funds: € 2.3 billion (year-end 2012: € 2.3 billion)

  *Based on more traditional accounting principles, as generally used in the
    insurance market, shareholders' funds would have been € 3.3 billion
    (year-end 2012: € 3.3 billion, corrected for pensions^[2])
  *Group embedded value stable at € 4.0 billion (year-end 2012: € 4.0

Marked increase in IGD group solvency to 193% (year-end 2012: 177%)

  *Regulatory solvency insurance entities at 226% (year-end 2012: 212%)

  *Introduction of IAS 19R did not affect Delta Lloyd's available regulatory

Executive board chairman Niek Hoek: "We continue to steer a steady course
through these challenging markets, and our proactive risk management has
helped to mitigate the impact of continued low interest rates. We further
strengthened our regulatory solvency ratio, and maintained a stable level of
shareholders' funds on a marked-to-market basis. We continued our successful
cost cutting programme, with an ongoing focus on efficiency. We remain
committed to our targets. Furthermore, our commercial performance is picking
up from a slow start in 2013. Our asset management, Belgian life insurance and
BeFrank businesses continued to show good sales progress in the first quarter,
and in our Dutch life business there is an attractive pipeline of new group
pension contracts."

Key figures
(in millions of euros, unless otherwise   Q1 2013 Q1 2012 Year-end 2012 Change
Gross written premiums^3                    1,418   1,517                  -7%
Total share capital and reserves            2,310                 2,306      -
IGD Group Solvency                           193%                  177%   16pp

For more information about this press release:

Media Relations    +31 (0)20 594 44 88
Investor Relations +31 (0)20 594 96 93

Conference call for media
On 2 May 2013 at 8.30 am (CET), with Niek Hoek (chairman Executive Board) and
Emiel Roozen (CFRO). The number for this media call (in Dutch) is +31 (0)20
531 58 50.

Conference call for analysts
On 2 May 2013 at 10.00 am (CET), with Niek Hoek (chairman Executive Board) and
Emiel Roozen (CFRO). The number for this call for analysts and investors (in
English) is +31 (0)20 531 58 55.

This press release is available in English and in a Dutch translation at

[1]NAPI: new annual premium income, consisting of 100% of new regular
premiums and 10% of new single premiums.
[2]Within the traditional accounting framework, adoption of IAS 19R is
mandatory as from 1 January 2013. Hence, we corrected the comparative 2012
traditional accounting figure to € 3.3 billion from € 3.6 billion.
[3]Excluding run-off and terminated activities.

PDF full press release IMS Q1


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information contained therein.

Source: Delta Lloyd Groep via Thomson Reuters ONE
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