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Daily Insurance Industry News
Monday 28th of May 2018
October 5, 2009

Aviva announces IPO for Delta Lloyd Group

by Gill Montia

Story link: Aviva announces IPO for Delta Lloyd Group

Aviva announces IPO for Delta Lloyd Group

Aviva has announced an initial public offering (IPO) of its Delta Lloyd Group unit, which will be listed on NYSE Euronext Amsterdam.

Delta Lloyd is a financial services provider offering life insurance, general insurance, fund management, and banking products and services.

Its core markets are in the Netherlands and Belgium where the group mainly operates under the brand names of Delta Lloyd, OHRA and ABN AMRO Insurance.

Aviva will use the IPO to sell a minority of its holding in the business; ordinary shares will be offered to institutional and retail investors in the Netherlands and to institutional investors outside the Netherlands.

The listing should be completed in November and will support Delta Lloyd’s growth strategy, which includes consolidation options already identified in the Netherlands and Belgium.

The business reported gross premium income of €2.8 billion in the first half of 2009 and total assets stood at €63.1 billion as at 30th June.

 

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