Delta Lloyd to sell German life business

17 January 2015

Delta Lloyd NV recently announced the sale of its German life business to Athene Holding Ltd. (“Athene”). Athene is a Bermuda-based insurance holding company and, through its subsidiaries, is a leading provider of products in the retirement savings market in the USA. In 2010, Delta Lloyd’s German life business stopped selling new business and has since been in run-off.

Hans van der Noordaa, chairman of the Executive Board: “This transaction supports the strategic focus on our core markets in the Netherlands and Belgium. We are pleased that Athene, as the new owner of our German activities, is committed to serve the interests of the policyholders and staff of Delta Lloyd Deutschland.”

Athene will acquire 100% of the shares in Delta Lloyd Deutschland AG. Subject to regulatory approvals,the transaction is expected to close by the third quarter of 2015. The transaction will have an effect on Delta Lloyd’s shareholders’ funds of – 5% and a small positive effect on IGD group solvency

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