History
Delta Lloyd Group’s history dates back two centuries: a two hundred-year track record of continuity and reliability.
Delta Lloyd Group finds its roots in one of the oldest life insurers on mainland Europe: Hollandsche Societeit van Levensverzekeringen founded in Amsterdam in 1807. This ancestor was one of the very first life insurance companies to draw up premium tables based on scientific calculations instead of charging speculative premium rates.
Thanks to its strong long-term focus and consistent strategy, this 19th century company gradually evolved – through organic growth as well as alliances, mergers and acquisitions – into the present-day financial service provider called Delta Lloyd Group.
Delta Lloyd Group finds its roots in one of the oldest life insurers on mainland Europe: Hollandsche Societeit van Levensverzekeringen founded in Amsterdam in 1807. This ancestor was one of the very first life insurance companies to draw up premium tables based on scientific calculations instead of charging speculative premium rates.
Thanks to its strong long-term focus and consistent strategy, this 19th century company gradually evolved – through organic growth as well as alliances, mergers and acquisitions – into the present-day financial service provider called Delta Lloyd Group.
Broadening of scope
In 1967, Hollandsche Societeit joined forces with Amstleven (Amsterdamse Maatschappij van Levensverzekeringen NV, a life insurance company set up in 1892) to form a new company called Delta. The combination considerably strengthened its position in the Dutch insurance and investment markets. Two years later, in 1969, the merger between Delta and Nedlloyd led to a further reinforcement and widening of the product range to include general insurance. The new listed company Delta Lloyd NV operated in the Dutch market through insurance intermediaries.
In the increasingly competitive national and international insurance world, the highly profitable Delta Lloyd was regarded as an attractive partner. In 1973, UK-based Commercial Union, a prominent insurer with an extensive international network, acquired the shares. This move opened up new opportunities for Delta Lloyd, which continued to operate autonomously in the Dutch market under its own brand name. Since the summer of 2002, after several mergers, the Group’s principal shareholder is called Aviva plc. Aviva, with a staff of 59,000, is European market leader and the fifth largest insurance group worldwide.
In the increasingly competitive national and international insurance world, the highly profitable Delta Lloyd was regarded as an attractive partner. In 1973, UK-based Commercial Union, a prominent insurer with an extensive international network, acquired the shares. This move opened up new opportunities for Delta Lloyd, which continued to operate autonomously in the Dutch market under its own brand name. Since the summer of 2002, after several mergers, the Group’s principal shareholder is called Aviva plc. Aviva, with a staff of 59,000, is European market leader and the fifth largest insurance group worldwide.
Distribution power
In the 1990s Delta Lloyd mapped out a clear new course. As a medium-sized insurer with a single distribution channel – the insurance intermediaries – Delta Lloyd aimed to develop into a company with a top position in the market. To achieve this, Delta Lloyd decided to reinforce its distribution power through the multi-channel concept and to expand its sales market.
Improving access to customers is perceived within Delta Lloyd as the key to success in the insurance market. In 1999, Delta Lloyd merged with NUTS OHRA Management, thereby bringing a direct writer under its roof. In addition, both NUTS and OHRA contributed large health insurance portfolios. Following this merger, Fonds NutsOhra has an interest of 8% in Delta Lloyd Group while Aviva holds 92% of the shares. In 2003, Delta Lloyd and ABN AMRO Bank established a joint venture in which Delta Lloyd acquired a majority stake of 51%. The joint venture has the exclusive right to sell insurance products through the distribution network of ABN AMRO Bank in the Netherlands.
At the end of March 2007, with retroactive effect from 1 January 2007, the takeover of Erasmus – part of German-based Wüstenrot & Württembergische – by Delta Lloyd Insurance became a reality. The transaction is in line with the aspiration to strengthen Delta Lloyd Group’s position in the Dutch insurance market.
Delta Lloyd Group and CZ reached agreement on a strategic alliance in July 2007. From 1 January 2009, CZ will take over, as risk bearer, the health insurance business of Delta Lloyd Group. The alliance opens up excellent strategic prospects: access to 3.3 million health insurance customers and a market share of 20%.
Customers in the Netherlands are now served through three distribution channels and three related brands: Delta Lloyd via the independent insurance intermediaries, OHRA via the direct channel and ABN AMRO Insurance via the Dutch branches of ABN AMRO Bank.
Improving access to customers is perceived within Delta Lloyd as the key to success in the insurance market. In 1999, Delta Lloyd merged with NUTS OHRA Management, thereby bringing a direct writer under its roof. In addition, both NUTS and OHRA contributed large health insurance portfolios. Following this merger, Fonds NutsOhra has an interest of 8% in Delta Lloyd Group while Aviva holds 92% of the shares. In 2003, Delta Lloyd and ABN AMRO Bank established a joint venture in which Delta Lloyd acquired a majority stake of 51%. The joint venture has the exclusive right to sell insurance products through the distribution network of ABN AMRO Bank in the Netherlands.
At the end of March 2007, with retroactive effect from 1 January 2007, the takeover of Erasmus – part of German-based Wüstenrot & Württembergische – by Delta Lloyd Insurance became a reality. The transaction is in line with the aspiration to strengthen Delta Lloyd Group’s position in the Dutch insurance market.
Delta Lloyd Group and CZ reached agreement on a strategic alliance in July 2007. From 1 January 2009, CZ will take over, as risk bearer, the health insurance business of Delta Lloyd Group. The alliance opens up excellent strategic prospects: access to 3.3 million health insurance customers and a market share of 20%.
Customers in the Netherlands are now served through three distribution channels and three related brands: Delta Lloyd via the independent insurance intermediaries, OHRA via the direct channel and ABN AMRO Insurance via the Dutch branches of ABN AMRO Bank.
Expansion
In the early 1990s Delta Lloyd purchased the Dutch branch of a foreign bank, and continued the operation under the name Delta Lloyd Bank. In addition, Delta Lloyd sought expansion abroad, acquiring several companies in Germany, including Berlinische Lebensversicherung and Gries & Heissel Bankiers. These acquisitions, together with Delta Lloyd Investment Managers, form Delta Lloyd Germany. In Belgium, Delta Lloyd Life, which arose from the merger of a number of smaller companies in 1991, managed to secure a top ten position in the local life market within a few years. This success is attributable primarily to the leveraging of the important brokerage channel and the simultaneous creation of a strong distribution franchise: Delta Lloyd Bank. In Belgium, Delta Lloyd Bank has built a medium-sized bank branch network through the merger of Bankunie, Bank Limburg and Bank Nagelmackers 1747 as well as the opening of new sales outlets.
Market leadership
By the start of the 21st century the Amsterdam-based life insurer founded in 1807 had developed into a prominent full financial service provider that is active in the Netherlands, Belgium and Germany. Delta Lloyd Group offers a broad range of products and services through the distribution channel of the personal and commercial customer’s choice.
With its multi-channel and multi-label strategy Delta Lloyd Group has secured a strong position among the leading Dutch insurers. And the first successful steps have been taken in the promising markets of Germany and Belgium. Delta Lloyd Group aims to develop rapidly in the coming years into a leading financial service provider in these countries as well.
With its multi-channel and multi-label strategy Delta Lloyd Group has secured a strong position among the leading Dutch insurers. And the first successful steps have been taken in the promising markets of Germany and Belgium. Delta Lloyd Group aims to develop rapidly in the coming years into a leading financial service provider in these countries as well.
