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Delta Lloyd Deutschland 2001 2000 In millions of euros – Gross premium income 619.0 579.6 – Return on investments 24.0 195.3 DELTA LLOYD GER MANY – Interest 5.3 4.9 – Commission 11.2 7.4 – Other income 2.8 2.1 Revenue 662.3 789.3 Result (before taxation) 15.9 12.0 Shareholders’ funds - 25.6 98.2 Staff numbers 986 961 Financial results 2001 The major divisions of Delta Lloyd Deutschland are the insurance companies Berlinische Leben, Hamburger Leben, Gries & Heissel Bankers and Delta Lloyd Investment Management (former Schroders Investment Management). The pre-tax result for Delta Lloyd Deutschland amounted to € 15.9 million in 2001. Total gross premium income increased by 7 % in comparison with 2000. Objectives 2002 – Focus on customer – Launch Riester products – Enhance brand awareness – Transform Life insurer into financial services provider – Integrate insurers Saarbrücken – Aim at acquisitions and forms of co-operation – Carry on with Business Process Redesign
‘German pension market offers great opportunities’ 2001 was quite satisfactory for Delta Lloyd Deutschland. Results were slightly above expectation and the increased rate of new Life business was in line with the market. On the other hand, premium income for single premium policies was slightly behind plan, but both the annual premium policies and the single premium policies increased when compared with 2000. The management team was changed and reduced from five to four persons. All activities took place also under the name of Delta Lloyd from 1 July. The conversion to the euro single currency had been successfully completed by mid 2001. Strategy, vision and implementation of the Delta Lloyd corporate values were laid down and put into practice. Four Delta Lloyd investment funds were introduced to the market. The distribution channel was reorganised which meant closing down some smaller regional offices, as occurred in 2000. The so-called tied-agents portfolio was reorganised as well. Strategy Delta Lloyd Deutschland, with its head office in Wiesbaden, consists of Berlinische Leben, Hamburger Leben, Gries & Heissel Bankiers and Delta Lloyd Investment Management. The latter organisation is the continuation of Schroder Investment Management, with whom Delta Lloyd had a joint venture. The stake of Schroder was taken over in 2001. This fits the strategy of Delta Lloyd Deutschland: to become a financial services provider rather than a life insurer alone. The company works with intermediaries and tied agents, but contacts via the Internet were also extended. The mission may be summarised as: following the end consumer’s life cycle with a range of adjusted products. This includes not only income insurances, but also banking products and investment funds. The brand awareness of Delta Lloyd Deutschland received a good incentive when an agreement was concluded with bmw, which has a solid reputation in Germany as a top quality organisation. This company has several investment funds for bmw drivers and the administration of these funds was contracted out to Delta Lloyd Investment Managers GmbH. The management of the funds is charged to the international fund manager Frank Russell. The new products of Delta Lloyd Deutschland received very good marks from consumer organisations. Market developments Germany is one of the spearheads in the Delta Lloyd group. In Germany too, the Government moves away from social security issues which creates major opportunities for watchful insurers. The state pension will be phased down from 2002 so that people will have to arrange their own supplementary provisions via privatised pension funds or otherwise. Tax incentives have been made which led to a reduction in the expected rise in new business. The public were waiting for clarity in this respect. In view of this new tax legislation, socalled Riester products were developed. Germany is one of the fastest growing markets in Europe in the field of investment funds. 55 delta lloyd deutschland
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actor • acupuncturist • adminis
Page 3 and 4: Delta Lloyd nv Delta Lloyd Insuranc
Page 5: Contents 7 key figures 8 notes from
Page 8 and 9: 8 Notes from the Supervisory Board
Page 11 and 12: The Executive Board’s Report
Page 13 and 14: Financial results 2001 Objectives 2
Page 15 and 16: The post-tax results of Ennia Carib
Page 17 and 18: Saving by means of single premium p
Page 19 and 20: Inflation Due to falling raw materi
Page 21 and 22: TA UR Financial results 2001 Object
Page 23 and 24: Market developments The market for
Page 25 and 26: ‘Well prepared for growth of the
Page 27 and 28: Delta Lloyd General Insurance 2001
Page 29 and 30: Income insurances A pilot absence c
Page 31 and 32: ‘Increase in market share’ Afte
Page 33 and 34: ohra Insurance 2001 2000 In million
Page 35 and 36: Nationaal Spaarfonds Nationaal Spaa
Page 37 and 38: ‘Major opportunities in the marke
Page 39 and 40: ‘Call ohra today, have your polic
Page 41 and 42: ‘Increase in market share through
Page 43 and 44: Asset Management Division 2001 2000
Page 45 and 46: Development Delta Lloyd Funds Sourc
Page 47 and 48: Development ohra Funds Source: Data
Page 49 and 50: Delta Lloyd Banking Division 2001 2
Page 51 and 52: Strategy The strategy was adjusted,
Page 53: ‘A controlling organisation’ 20
Page 57 and 58: Delta Lloyd België 2001 2000 In mi
Page 59 and 60: Plans for 2002 A great number of ac
Page 61 and 62: ‘Good results’ 2001 was a good
Page 63 and 64: Plans for 2002 The process of integ
Page 65 and 66: Extra notice on female employees Th
Page 67: An important element of the Risk &
Page 71 and 72: Insurance agents have been Delta Ll
Page 75 and 76: Farmers Doing business in the field
Page 79 and 80: Young families In addition to marri
Page 83 and 84: Internet users There are many peopl
Page 87 and 88: Annual accounts
Page 89 and 90: Liabilities 31|12|2001 31|12|2000 g
Page 91 and 92: Consolidated Cash flow statement In
Page 93 and 94: 2 valuation of assets and liabiliti
Page 95 and 96: Insurance liabilities These are gen
Page 97 and 98: Fund for General Banking Risks This
Page 99 and 100: Explanatory notes to the consolidat
Page 101 and 102: The cost price of the other financi
Page 103 and 104: The market value of the savings fun
Page 105 and 106:
The difference of the redemption va
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This rate is indexed annually by 1%
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Share reinsurers 31|12|2001 31|12|2
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Short-term creditors 31|12|2001 31|
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31|12|2001 31|12|2000 Off balance s
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Summary return on equity investment
Page 117 and 118:
Explanatory notes to the consolidat
Page 119 and 120:
Consolidated technical account Gene
Page 121 and 122:
Marine Fire and other General Other
Page 123 and 124:
Consolidated technical account Care
Page 125 and 126:
Consolidated profit and loss mediat
Page 127 and 128:
Explanatory notes to the consolidat
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pension rights executive board In t
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verslag van de raad van bestuur 113
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The cost price of the stocks at 31
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Revaluation reserves 31|12|2001 31|
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Outline of major group companies cg
Page 139 and 140:
Other details
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Auditors’ report introduction We
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1998 2 1997 3 1996 3 1995 3 1994 3
Page 145 and 146:
R.H.P.W. Kottman Position Chairman
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