Delta Lloyd has been a trusted partner for insurance, pensions, investing and banking since 1807. Our roots are in one of the oldest life insurers in mainland Europe: Hollandsche Sociëteit van Levensverzekeringen. Over the years the company gradually evolved – through organic growth as well as alliances, mergers and acquisitions – into the financial services provider that is Delta Lloyd today.
Mergers and acquisitions
In 1967, Hollandsche Sociëteit joined forces with the Amsterdamse Maatschappij van Levensverzekeringen and was renamed Delta. Two years later, Delta merged with Nedlloyd, expanding into general insurance and creating the new, listed Delta Lloyd N.V.
Delta Lloyd was considered an attractive partner in the competitive insurance sector of the 1970s and was acquired by UK-based Commercial Union (now Aviva) in 1973, but continued to operate autonomously in the Dutch market under the Delta Lloyd name.
As a medium-sized insurance company with a single distribution channel – insurance intermediaries – Delta Lloyd set out on a new course in the 1990s to become a leading market player. We strengthened our distribution power with our multi-channel concept and expanded our sales market.
In 1999, Delta Lloyd merged with NUTS OHRA Management, a direct writer with a large health insurance portfolio. Fonds NutsOhra took an 8% stake in Delta Lloyd while Aviva retained the rest. In 2003, Delta Lloyd entered into a joint venture with ABN AMRO Bank, acquiring a 51% majority stake in ABN AMRO Verzekeringen, to sell insurance products through the bank’s distribution network in the Netherlands.
In 2007 we signed a strategic alliance with Dutch insurance company CZ to bear the risk for our health insurance business, opening up access to 3.3 million health insurance customers and gaining a market share of 20%.
As a result, Delta Lloyd now had three distribution channels in the Netherlands for its three Dutch brands: independent insurance intermediaries for Delta Lloyd; direct channels for OHRA; and ABN AMRO bank branches for ABN AMRO Verzekeringen.
Expansion in Belgium
In 2001, we turned our focus to the Belgian market. Within just a few years, Delta Lloyd Life, the result of several smaller companies merging in 1991, gained a top 10 position in the local life market. The company doubled in size when Delta Lloyd Life acquired pension insurer Swiss Life Belgium in 2008 and in 2013 life insurance company ZA Verzekeringen was added to the Belgian portfolio.
Today, Delta Lloyd is developing into a leading player in the Belgian pension and life insurance market, with a top four position in group insurance.
Initial Public Offering
In 2009, Delta Lloyd shares began trading on the Euronext Amsterdam. It was the biggest European IPO that year and the biggest in the financial services sector at the time. In the ensuing years Aviva gradually reduced its stake and by 2013 Delta Lloyd was a fully-independent listed company.