Nn Group N.v. · EURONEXT:NN
Nn — Delta Lloyd Group — Investor Presentation (January 2013)
20 slides from Nn's investor presentation, Jan 10, 2013
Slide 1: Delta Lloyd applies for listing on NYSE Euronext Brussels
Delta Lloyd applies for listing on NYSE Euronext Brussels 10 January 2013
Slide 2: Table of contents
Table of contents I. Delta Lloyd Group II. Delta Lloyd in Belgium III. Appendix 2
Slide 3: Building on 200 years history
Building on 200 years history 1807 Amstleven Hollandsche Societeit Nedlloyd 1967 Delta 1969 Delta Lloyd 1973 delisting 1999 Nuts / OHRA Delta Lloyd Nuts OHRA 2002 2003 ABN AMRO Insurance IPO Delta Lloyd Group 2009 2013 Free float > 99% Listing Belgium
Slide 4: Delta Lloyd Group reliable partner since 1807
Delta Lloyd Group reliable partner since 1807 FY 2011 GWP by Geography1 • A strong Group secured on 200 years Belgium of reliability and trust 15% • An insurance company and financial services provider – Life & Pension insurance, General The Insurance, Asset Management and Netherlands 85% Banking To
Slide 5: Delta Lloyd's 5-pillar strategy provides a solid foundation
Delta Lloyd’s 5-pillar strategy provides a solid foundation Future Secured Creating value for our customers, shareholders and employees Certainty Distribution Simplicity Expertise Core Values • Most solid and • Employing • Efficiency in • Regarded as • Respect at the trustworthy distribution process
Slide 6: Focus on attractive Dutch and Belgian markets
Focus on attractive Dutch and Belgian markets • Second largest pension market in the world • Opportunity to transfer pension liabilities to insurance market The Netherlands • Delta Lloyd well positioned with state of art proposition in growing defined contribution market • Stable cash flows of low r
Slide 7: Progress on key management objectives
Progress on key management objectives H1 2012 • Life new business value (EEV-based) € 41.7m Business • Life new business internal rate of return ≥ 9% 9% performance • Combined ratio of 98% or better across the cycle 98.2% • Management cost base < € 820m (on FY basis) € 399m Operational Profitability
Slide 8: IGD Group solvency and S&P ratings
IGD Group solvency and S&P ratings IGD Group solvency (€m) • IGD Group solvency more conservative and not 199% 194% comparable with the more commonly used 174% solvency for insurance entities 1,821 1,743 • IGD Group solvency based on liquid ECB AAA 1,340 including newly introduced Ultimate Forward R
Slide 9: Strong reputation and excellent track record
Strong reputation and excellent track record Delta Lloyd Group • Marked-to-market valuation immediately gives clear incentive to take action in volatile market environment Track record • Market volatility of taking ― outperformance of asset portfolio against benchmark action when ― hedging strategy
Slide 10: Cross listing rationale
Cross listing rationale Confirms importance of Belgium as second home market Reinforces profile and visibility in Belgian market Strengthens the Group’s strategic flexibility Further diversification of investor base; broader access to capital markets 10
Slide 11: Table of contents
Table of contents I. Delta Lloyd Group II. Delta Lloyd in Belgium III. Appendix 11
Slide 12: Overview of Delta Lloyd Group: simplified group structure
Overview of Delta Lloyd Group: simplified group structure Delta Lloyd NV Belgium The Netherlands Delta Lloyd Bank Delta Lloyd General Insurance Delta Lloyd Life Delta Lloyd Life Insurance ABN AMRO Insurance (51%) Delta Lloyd Bank Delta Lloyd Asset Management 12
Slide 13: Delta Lloyd in Belgium
Delta Lloyd in Belgium 1998 • Acquisition of Smeets Securities 2001 • Emergence of Delta Lloyd Life from a merger of CGU Life, OHRA Life & NU 2001 • Merger of Bankunie and Bank of Limburg to Delta Lloyd Bank; • Acquisition Nagelmackers 2008 • Doubling of premiums due to takeover of Swiss Life Belgiu
Slide 14: Life Insurance in Belgium
Life Insurance in Belgium • Belgium activities have gained significant scale post Swiss Life Belgium acquisition Delta Lloyd – #4 in Group Life with an excellent customer segments coverage from Key Market Managers & Self-Employed up to SMEs & Large Corporates Position – #8 player in Individual Life
Slide 15: Delta Lloyd Bank in Belgium
Delta Lloyd Bank in Belgium • Bank for niche market (Mass Affluent Clients; assets > €75k) Delta Lloyd • Specialized in Wealth Planning and Asset Management Bank Belgium • Over 260 years of experience through Bank Nagelmackers 1747 • Added value to clients who appreciate a personal approach Institut
Slide 16: Timeline dual listing Brussel
Timeline dual listing Brussel 2013 10/1 Announcement of listing on Euronext Brussel 23/1 Expected first day of quotation 28/2 FY 2012 publication 16
Slide 17: Table of contents
Table of contents I. Delta Lloyd Group II. Delta Lloyd in Belgium III. Appendix 17
Slide 18: Description of Group share capital as at 10 January 2013
Description of Group share capital as at 10 January 2013 Number of ordinary Number of preference As % of total As % of total % Voting rights shares owned shares A owned Aviva - - - - - Fonds NutsOhra - - 13,021,495 100% 6.9% Free Float 175,210,816 99.1% - - 93.1% Total (excluding own 175,210,816 99.
Slide 19: Key performance indicators
Key performance indicators Delta Lloyd Group €m H1 2012 H1 20111 % / pp GWP 2,877 2,818 2% Operational expenses 399 424 (6)% Net operational result 218 227 (4%) Net operational RoE 11.3% 9.8% 1.5pp Result before tax (1,281) (505) n/a Net result (942) (342) n/a Shareholders’ funds 2,860 4,021 (29)% G
Slide 20: Disclaimer
Disclaimer • This presentation is being supplied to you solely for your information and used at the presentation held in January 2013. • Certain statements contained in this presentation that are not historical facts are "forward-looking statements". These forward-looking statements are based on man
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