224 121676

Information about 224 121676

Published on January 7, 2008

Author: Janelle

Source: authorstream.com

Content

Lehman Brothers Dutch insurance field trip :  Lehman Brothers Dutch insurance field trip Niek Hoek CEO Delta Lloyd Group Amsterdam, 1st September 2004 Agenda:  Agenda Powerful life market:  Source: AM Jaarboek 2003 / 2004 using 2002 data * Including ABN AMRO Powerful life market 4.5% of total European life premium income $1,345 per capita spending 5.7% of Dutch GDP CAGR 9.6% over 1980 - 2001 GWP life Euro 24 bn = 60% of total GWP 55% regular premium / 45% single premium 33% group life / 67% individual Average solvency margin 229% The Dutch insurance market is facing significant challenges ...:  ... but offers a wide range of opportunities for well-positioned professional players! The Dutch insurance market is facing significant challenges ... Regulator taking a more sophisticated approach on capital adequacy Enhanced consumer protection Tax relief on products under pressure Historically low long-term bond yields Profitability is highly geared to investment returns Demographic trends remain favourable to insurers Increasing demand for “private pensions” Government withdrawing from social security / healthcare Increasing value management Corporate tax decrease from 34.5% to 31.5% ( 2005 ) and 30.0% ( 2007 ) Dutch and Germans are less likely to take financial risks:  Dutch and Germans are less likely to take financial risks More likely to take financial risks Less likely to take financial risks Source: Aviva research by The Henley Centre on Consumer Attitudes to Savings Study, February 2004 Are you more or less likely to take financial risks than you were 5 years ago ? Dutch and Germans are most likely to keep on saving after retirement:  Dutch and Germans are most likely to keep on saving after retirement Source: Aviva research by The Henley Centre on Consumer Attitudes to Savings Study, February 2004 Do you save or invest on a regular basis during retirement ? ( Base: those who have already retired ) GWP and APE by distribution channel:  GWP and APE by distribution channel Total EUR 1,335 m Total EUR 146 m APE figures show Delta Lloyd well positioned …:  APE figures show Delta Lloyd well positioned … Aegon Delta Lloyd Group ( Netherlands ) Fortis ING Group EUR m / Dutch GAAP H1 2004 H1 2003 118 146 n.y.a. 145 148 139 n.y.a 141 Delta Lloyd’s key success factors in the Dutch pension market :  Delta Lloyd is a sophisticated player in the Dutch pension market with enormous distribution power and the potential to become the future market leader Delta Lloyd’s key success factors in the Dutch pension market Strong labels Innovative and profitable products Huge private, SME and corporate customer base Attractive partner for individuals, employers and brokers Innovative, flexible and efficient technical solutions for group pension business Delta Lloyd’s Universal Life concept: integrated proposition for individual, semi-group and large group life a step change in the Dutch insurance market for administrating group life business a highly efficient and unique system Via Internet: Real online access for employers on pension insurance data of there employees for alterations Dedicated pensionfunds services unit Agenda:  Agenda Strategy: 7 - 3 - 7 Model:    Strategy: 7 - 3 - 7 Model Multi Label - Multi Channel delivers a variety of choice for the customer:  Distribution channel linked to exclusive label Channel / label relation concerning product development, pricing and marketing Full range of competitive and profitable products No captive agents in the intermediary channel, but franchise formula Cross-selling potential between the sectors Access to a huge private, SME and corporate customer base Multi Label - Multi Channel delivers a variety of choice for the customer Intermediaries will remain the main distribution channel for financial service products:  Intermediaries will remain the main distribution channel for financial service products Source: Delta Lloyd own research ‘The future secured’ Strategy of Delta Lloyd Group:  ‘The future secured’ Strategy of Delta Lloyd Group Agenda:  Agenda Key benefits for Delta Lloyd:  The right venture at the right moment with the right partner! Key benefits for Delta Lloyd Expands distribution capabilities with minimal channel conflict Expands client base Creates leading market positions in new business Economies of scale / synergies through SSC strategy Conversion opportunities from ‘third party’ products to JV products Opportunity to market full product range to ABN AMRO clients Asset management opportunities Framework of the ABN AMRO joint venture:  Target: To double penetration ratio from current levels Framework of the ABN AMRO joint venture Exclusive distribution agreement with a 30 years duration Usage of ABN AMRO brand in The Netherlands Agreement covers existing Life and GI in-force business of ABN AMRO Delta Lloyd management control (51%/49%) Fund management (own risk) provided by Delta Lloyd Exclusive access to >500 ABN AMRO Bank shops and 78 regional offices Access to ABN AMRO customer base: 4.5 million private customers / 325,000 SME’s / 80,000 private / affluent banking clients ABN AMRO achieved a stand alone top 10 position in Dutch market / together with Delta Lloyd top 4 Achievements 15 months after start:  Achievements 15 months after start Products & Sales Brokered GI converted to own risk Reduced intermediary function for other suppliers Stopped writing loss-making direct annuities (was 50% of book) Full range of new pension products to cover SME demand Successful integration of Employee Benefit Consultants (EBC) New Flexible Pension Plan launched in 2004 (FPP product) Organisation & Synergies Restructured organisation Back-office integration started Administration of new products on Delta Lloyd systems ABN AMRO staff on DL Group payroll Significant reduction of operational expenses - EUR 8m achieved to date Agenda:  Agenda Group-wide focus on margin improvement and cost reductions:  Initiative Achievements 1H 2004 vs. 1H 2003 Future target Permanent staff numbers 3% reduction in FTE 3% reduction per year Cost reduction EUR 37m achieved ( 9% reduction ) Further reduction Margin improvement 1H 2004 margin to 31.9% mainly through change in product mix Expand margins further Group-wide focus on margin improvement and cost reductions Life achieved and MSSB profit development:  Results affected by poor financial market conditions Life achieved and MSSB profit development £ m / UK GAAP / BeNeLux Life new business volumes and margins:  ABN AMRO, expense control and other management actions all having a beneficial effect on margins £ m / UK GAAP / BeNeLux Life new business volumes and margins Conclusions:  Delta Lloyd - well positioned in a challenging market! Conclusions Strong brands give DL scope to become market leader in life new business sales ABN AMRO venture delivering strong returns Specific projects underway to increase operational efficiency Cost efficiencies/margin improvements achieved and targeted Increasing new business margins due to actions taken Distribution power is key End of presentation:  End of presentation

Related presentations


Other presentations created by Janelle

web2001 5 potato fungicide
31. 12. 2007
0 views

web2001 5 potato fungicide

Acupuncture
04. 01. 2008
0 views

Acupuncture

Networking Devices
01. 01. 2008
0 views

Networking Devices

Som de Cinema
24. 10. 2007
0 views

Som de Cinema

Cataract  History  05
02. 05. 2008
0 views

Cataract History 05

GEC NEVC 0ct 06
28. 09. 2007
0 views

GEC NEVC 0ct 06

LECTURE 7
03. 10. 2007
0 views

LECTURE 7

TS2 2 1
04. 10. 2007
0 views

TS2 2 1

saferoom
07. 10. 2007
0 views

saferoom

cpt
16. 10. 2007
0 views

cpt

Presentation media use
17. 10. 2007
0 views

Presentation media use

MosbysNursingCONSULT Training
29. 09. 2007
0 views

MosbysNursingCONSULT Training

maws3 5883
23. 10. 2007
0 views

maws3 5883

Presentacion PPP Panama
22. 10. 2007
0 views

Presentacion PPP Panama

sankar jag
29. 10. 2007
0 views

sankar jag

G020213 00
29. 10. 2007
0 views

G020213 00

jan20wrf
03. 10. 2007
0 views

jan20wrf

Contexto Latinoamericano 2005
22. 10. 2007
0 views

Contexto Latinoamericano 2005

BLRB08 2 rbs
11. 12. 2007
0 views

BLRB08 2 rbs

CrystalPP
12. 10. 2007
0 views

CrystalPP

07 Pilz
19. 10. 2007
0 views

07 Pilz

Lec3 APS301 Slideshow
25. 10. 2007
0 views

Lec3 APS301 Slideshow

Hill Ch 003 part 3 03
31. 10. 2007
0 views

Hill Ch 003 part 3 03

Foolish Fragments
01. 11. 2007
0 views

Foolish Fragments

pp hematoma
06. 11. 2007
0 views

pp hematoma

file0068
06. 11. 2007
0 views

file0068

Biodiesel Production
07. 11. 2007
0 views

Biodiesel Production

turkey presentation
21. 11. 2007
0 views

turkey presentation

Turkey and the EU
23. 11. 2007
0 views

Turkey and the EU

chap14 07
14. 12. 2007
0 views

chap14 07

The Clash of Civilizations
23. 12. 2007
0 views

The Clash of Civilizations

grace agnew
20. 11. 2007
0 views

grace agnew

IX Aerosol
03. 01. 2008
0 views

IX Aerosol

Malignant Wounds
05. 01. 2008
0 views

Malignant Wounds

Monday lab ppt presentation
10. 10. 2007
0 views

Monday lab ppt presentation

Sailor Relationship Management
08. 10. 2007
0 views

Sailor Relationship Management

Schischke Penang Label v2
01. 10. 2007
0 views

Schischke Penang Label v2

tomography
15. 10. 2007
0 views

tomography

Flowering2
17. 12. 2007
0 views

Flowering2

INMET training course v4
28. 12. 2007
0 views

INMET training course v4

landmarks And Monuments
12. 10. 2007
0 views

landmarks And Monuments

EARSS december 1 06
19. 10. 2007
0 views

EARSS december 1 06

Presen 1
10. 10. 2007
0 views

Presen 1

P6S1
16. 02. 2008
0 views

P6S1

mtgbog07 smith
19. 02. 2008
0 views

mtgbog07 smith

Viktoras Seskauskas
28. 11. 2007
0 views

Viktoras Seskauskas

Canadian literature powerpoint4
12. 03. 2008
0 views

Canadian literature powerpoint4

ses3 1545 Sethu Raman
30. 09. 2007
0 views

ses3 1545 Sethu Raman

A105 024 Cosmo
16. 10. 2007
0 views

A105 024 Cosmo

communication 2
27. 11. 2007
0 views

communication 2

Performance of DFT
31. 10. 2007
0 views

Performance of DFT

investment strategy
09. 04. 2008
0 views

investment strategy

Analyst meet
17. 04. 2008
0 views

Analyst meet

Sess 1 Zhang Xizhen
10. 10. 2007
0 views

Sess 1 Zhang Xizhen

2205 Joao Carlos
26. 11. 2007
0 views

2205 Joao Carlos

Single Payer101
07. 05. 2008
0 views

Single Payer101

dentalhealth
08. 05. 2008
0 views

dentalhealth

AACBelecs2004
08. 05. 2008
0 views

AACBelecs2004

Extending the SpanishWordNet
31. 10. 2007
0 views

Extending the SpanishWordNet

SCOPE991001
02. 05. 2008
0 views

SCOPE991001

SupportGroup031106
02. 05. 2008
0 views

SupportGroup031106

Martina OConnor
02. 05. 2008
0 views

Martina OConnor

dns pres michaelson roots
30. 10. 2007
0 views

dns pres michaelson roots

m101
09. 10. 2007
0 views

m101

CaseEUvirtuellefabrik
15. 10. 2007
0 views

CaseEUvirtuellefabrik

hou leong
10. 10. 2007
0 views

hou leong

DeSangroValencia
31. 10. 2007
0 views

DeSangroValencia

Intro to Pod biomech
30. 04. 2008
0 views

Intro to Pod biomech

wspa07 23
26. 03. 2008
0 views

wspa07 23

95 Romi 25mag
19. 10. 2007
0 views

95 Romi 25mag

Tue1530 137
09. 10. 2007
0 views

Tue1530 137

Helping students help themselves
30. 10. 2007
0 views

Helping students help themselves

XPath
18. 10. 2007
0 views

XPath

GSB presentation4
29. 12. 2007
0 views

GSB presentation4

tornado sample slides
02. 10. 2007
0 views

tornado sample slides

vbq
09. 10. 2007
0 views

vbq

sullivan list
08. 10. 2008
0 views

sullivan list

Moore Plasma Circulation ESSE06
02. 11. 2007
0 views

Moore Plasma Circulation ESSE06

biod145 lecture4 bb
16. 10. 2007
0 views

biod145 lecture4 bb

Final Spring 2003 Presentation
06. 03. 2008
0 views

Final Spring 2003 Presentation

Provisu SSIM2006
19. 10. 2007
0 views

Provisu SSIM2006

WDHSJuly505
20. 02. 2008
0 views

WDHSJuly505

30th Anniv USSP
17. 10. 2007
0 views

30th Anniv USSP

Prion2005
15. 10. 2007
0 views

Prion2005

imperialism 2
22. 10. 2007
0 views

imperialism 2

Lipchitz AFDonCatRisk
23. 10. 2007
0 views

Lipchitz AFDonCatRisk

Cumberland
26. 11. 2007
0 views

Cumberland

606
16. 11. 2007
0 views

606

GAIC5Oct04
31. 10. 2007
0 views

GAIC5Oct04

eceatcz
20. 03. 2008
0 views

eceatcz

upa nyc jonathan bloom
04. 10. 2007
0 views

upa nyc jonathan bloom

ssuo robo3
15. 11. 2007
0 views

ssuo robo3

nuccio lanza
15. 11. 2007
0 views

nuccio lanza

Haroldo Sustainab Develop 0607
30. 10. 2007
0 views

Haroldo Sustainab Develop 0607

presentation eichhorn jan
16. 11. 2007
0 views

presentation eichhorn jan

ling411 23
19. 11. 2007
0 views

ling411 23

DYB US PRC
16. 10. 2007
0 views

DYB US PRC

PHN0202a
13. 03. 2008
0 views

PHN0202a

10 2205 HISTORIA EUA
13. 11. 2007
0 views

10 2205 HISTORIA EUA

ChineseAmericans
30. 10. 2007
0 views

ChineseAmericans

apgrid ggf4
09. 10. 2007
0 views

apgrid ggf4

kur
26. 10. 2007
0 views

kur

HIS104 Lecture05
31. 10. 2007
0 views

HIS104 Lecture05

Harvard Presentation
12. 10. 2007
0 views

Harvard Presentation

wilhelmson
02. 10. 2007
0 views

wilhelmson

MLI Site Visit 4 98 overview
29. 09. 2007
0 views

MLI Site Visit 4 98 overview