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2016-02-24

Delta Lloyd in 2015: good commercial and operational performance

Business highlights
* Strong performance in Life new business, NAPI[1]increased to € 432 million
(2014: € 418 million), of which € 235 million originated from new defined
contribution (DC) contracts
* Gross written premiums (GWP) in General Insurance was up 3% to € 1,353
million[2], combined ratio (COR) better than target at 96.2%[3](2014:
94.5%3)
* Delta Lloyd ranked the number one pension insurer by independent financial
advisors for fourth consecutive year, authorised agents (volmacht )
consider our service levels best in class, and we ranked number three in
the commercial General Insurance business segment
* Leon van Riet nominated to Executive Board
* Capital plan update: rights issue of € 650 million

Financial highlights
* Positive IFRS net result € 128 million (2014: € 361 million)
* Operational expenses in line with target of € 620 million at € 619 million
* Solvency II Standard Formula (SF) ratio: 131%; material uncertainties
addressed including LAC DT (subject to rights issue)
* Shareholders' funds at € 2,569 million (2014: € 2,468 million), mainly due
to equity offering in March

Hans van der Noordaa, Chairman of the Executive Board:
"Our core business delivered good results in 2015. Understandably a great deal
of attention was focused on our capital position, yet our employees continued
doing what we do best: serving our customers, working with our business
partners, generating profitable new business and building a strong company.
Delta Lloyd is a company in transition, with a new management team, a revised
strategy and working under a new regulatory regime. I am confident that our
'Closer to the customer' strategy, our capital enhancement plan and our focus
on efficiency will help us to create value for our customers, shareholders
and other stakeholders."

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| Key performance indicators |
| (in millions of euros, unless otherwise stated) 2015 2014 |
| New annualised premium income (NAPI) 432 418 |
| Combined ratio 96.2% 94.5% |
| Solvency II Standard formula (SF) ratio 131% na |
| Shareholders' funds after non-controlling interests 2,569 2,468 |
| Net IFRS result 128 361 |
| Gross operational result 940 618 |
| Operational expenses 619 605 |
| Customer centric dashboard score (AFM)* 3.5 3.6 |
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*Scores on a scale from 1-5 over 2014 and 2013; the 2015 scores will be
published in June 2016
Strategic and business overview
On 30 November 2015, Delta Lloyd announced a rights issue to raise additional
equity capital. The rights issue is part of a broader plan of management
actions and capital measures, along with our revised strategy, designed to
ensure Delta Lloyd is strongly positioned in the new era of Solvency II,
which became effective on 1 January 2016. Today, Delta Lloyd published a
separate press release with an update on the capital plan and the size of the
rights issue. This press release is not available in the United States,
Canada, Australia or Japan or any other jurisdictions in which the
distribution or release would be unlawful.

Our strategic priorities are aimed at creating future value for our customers,
shareholders and other stakeholders. Within the revised 'Closer to the
customer' strategy we will leverage the strengths of our business and focus
on capital efficiency and cost efficiencies. Our diversified life and general
insurance portfolio, the accelerated shift to more fee based and capital
light business and the continuous efforts to optimise our balance sheet for
Solvency II enhance capital efficiency.
Based on customer insights and our track record as an insurer, we will focus
on developing integrated solutions for individual customers in pension plans
and we will expand our digital and data capabilities, to be able to
proactively offer our clients relevant and timely advice. Furthermore, we
will develop sustainable, future-ready products, which are aimed at
prevention and take into account the new types of risks our clients are faced
with.

Leon van Riet appointed to the Executive Board
Today, Delta Lloyd's Supervisory Board announced the planned appointment of
Leon van Riet (51) to the Executive Board. Leon van Riet will succeed Onno
Verstegen, who resigned as member of the Executive Board on 1 February 2016.
The Dutch Central Bank (DNB) and the Netherlands Authority for the Financial
Markets (AFM) have approved the planned appointment of Leon van Riet.

Customers
Delta Lloyd has built a successful business across Life Insurance, General
Insurance and Asset Management, using a strong multi-channel, multi-label
platform, with well-known and respected brands such as Delta Lloyd, BeFrank,
OHRA and ABN AMRO Insurance. Our 4.2 million customers give us consistently
high customer satisfaction scores, as do our business partners. The
satisfaction, particularly in regards to levels of service of the
intermediaries that we work with is a key driver for the commercial business
lines in the Netherlands. In our pension business lines, Delta Lloyd achieved
the highest intermediary satisfaction in the market for the fourth
consecutive year in 2015: 7.6 (2014: 7.6)[4], BeFrank is included in this
score.
In the commercial General Insurance business segment, Delta Lloyd ranked third
in terms of intermediary satisfaction and its overall intermediary
satisfaction improved to 7.3 (2014: 7.0) in 2015. Authorised agents consider
Delta Lloyd's service levels to be best in class in the Netherlands. On the
Customer Centric Dashboard issued by the Dutch Financial Markets Authority
(Autoriteit Financiële Markten/AFM), we scored an average 3.5 out of 5 in
2014, above the 3.4 sector average.

In order to strengthen our distribution capabilities, the OHRA brand will be
transformed in a purely digital, non-life insurer. Online we will expand our
existing single portal for sales and services for commercial and individual
customers and brokers. To gain a better understanding of our customers' needs
and requirements, we created the new business unit Customer, Brand&Digital,
which stems from our 'Closer to the customer' strategy. This will allow us to
respond faster, more efficiently and more actively to the needs of customers
and to offer them the right solutions.

Sustainability
Delta Lloyd is committed to make a positive sustainable impact with our core
business activities, creating value both for society and our business. In
2015, we set a new sustainability strategy which consists of three pillars:
responsible insurance, responsible investing and the Delta Lloyd Foundation.
For example, we manage the Triodos mandate and we introduced a wind and tidal
energy insurance product. In September 2015, Delta Lloyd was again included
in the Dow Jones Sustainability Index (DJSI) World and in the DJSI Europe.
Delta Lloyd belongs to the industry best regarding customer centricity and
integrity. Delta Lloyd's sustainability report is to be published on 23 March
2016.

---------------------------------------[1]New Annualised Premium Income on IFRS basis, consisting of 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]Source: IG&H Management Consultants, Performance Surveys 2015, on a scale
from 1-10

FY2015 press release
http://hugin.info/142905/R/1988813/730333.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Delta Lloyd via Globenewswire

HUG#1988813

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