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the executive board’s report
58
‘Ready for growth’
The Life company in Belgium looks back
at a challenging but satisfactory year.
Challenging because some mergers were
effected, satisfactory because premium
income increased beyond expectation.
The company moved into a new modern
building in Brussels. All life activities
have now been concentrated and Delta
Lloyd Life Belgium is now almost ready
with its position of a solid unit with a
strong brand and ready for growth.
Growth in Life is spearhead Expansion is
a spearhead in Delta Lloyd’s strategy.
The Life operations must therefore be a
significant player on the Belgian market
within a few years. Expansion is necessary
in that regard. After a merger was realised
between ohra Life, Antverpia Life, Het
Belgisch Verhaal and De Poperingse
Verzekering, new mergers were effected
in 2001. cgu Life and Norwich Union
were added to the organisation. cgu
General Insurance was sold to Winterthur.
The mergers, the move and the related
restructuring in the organisation
demanded an effort from staff. Newly
integrated teams had to be created, with
new jobs. The first team was created in
Marketing and Sales. The process will go
on into 2002. ict systems had to be
matched. In order to avoid that the focus
in this stage would be too much on
internal developments, a two-day staff
event was organised in October where
people could meet, where information
was given of the strategy and mission of
Delta Lloyd Life and where a pleasant
working atmosphere would be created.
Focus on market share The official launch
of Delta Lloyd Life for intermediaries took
place in October, in order that the brand
awareness could be enhanced. A new
product was introduced to the market in
December, the Delta Lloyd Top Account,
received much attention. Another
marketing expression which received
much notice, even outside Belgium, was
an advertising campaign in the Belgian
newspapers focusing on the Belgian
tennis champion Kim Clijsters.
The general interest for Life products in
Belgium, like in the Netherlands, grew
sharply. In Belgium too, the Government
is moving away from social security issues
and the population is ageing. As a result,
the interest for income and pension
products increased sharply and Delta
Lloyd Life has reacted with a package of
specific products. It appeared again that
the banks belonging to the Delta Lloyd
group are an important distribution
channel for new Life business. Delta Lloyd
Life in Belgium operates with intermediaries,
call centres and e-business as
well. The approach in the market is thus
characterised by a mono-brand policy
under the name of Delta Lloyd Life with
a multi-channel distribution system.
The image pursued is an insurer
distinguishing from other, traditional
insurers by service. The most important
target is an increase in market share.
Delta Lloyd Life Belgium ranks in the
top 20, but must reach the top five within
a few years.