Delta Lloyd Falls Most Ever as Loss Raises Capital Concerns
This article is for subscribers only.
Delta Lloyd NV fell the most on record after interest-rate hedging and declines in bonds spurred a first-half loss, raising concern the Dutch insurer may need to raise capital.
The shares fell 20 percent to 13.17 euros at 5:30 p.m. in Amsterdam, the biggest drop since an initial public offering in 2009 and wiping 748 million euros off its market value. Delta Lloyd said on Tuesday it made a loss of 533 million euros ($588 million) after a profit of 295 million euros a year earlier.