Delta Lloyd Group

Early history

The earliest predecessor of Delta Lloyd, the Hollandsche Societeit van Levensverzekeringen, was founded in 1807. In 1966, it merged with the Amsterdamsche Maatschappij van Levensverzekeringen- also known as Amstleven and was renamed Delta. The "Hollandsche Societeit" had a few non life companies, like the "Koepel" and "Bataafsche", while Amstleven had acquired the Arnhemsche Verzekering maatschappij N.V. in 1964. Daughter of the Arnhemsche was the specialist pleasurecraft insurer "Nereus. Before the "Delta" group could consolidate properly in 1967, Delta merged with NedLloyd (not to be confused with the shipping company of the same name).

As all offices of the various companies were spread around Amsterdam- CBD - within the canal belt - it was decided to build a new head office in Amsterdam Slotervaart at the Nachtwachtlaan. All non life business moved there in 1969. In 1973, all shares in Delta were bought by the British firm Commercial Union (now part of Aviva). In 1999, Delta Lloyd merged with OHRA, the resulting company being renamed to Delta Lloyd Group in 2002.

Initial public offering

The Delta Lloyd Group officially went public on the NYSE Euronext Amsterdam on 3 November 2009. Delta Lloyd made 38–42% of its shares public, with its major shareholder Aviva reducing its ownership from 92% to 50–54%. Delta Lloyd's other previous shareholder, Nuts OHRA, retained its 8% stake. In July 2012 and January 2013, Aviva sold its stake, making the group 95% publicly traded.

Acquisition by NN Group

On 5 October 2016 NN Group unexpectedly made an offer for all Delta Lloyd shares; the offer had a cash value of 2.4 billion euros. Delta Lloyd, the fourth-largest insurer in the Netherlands, had 3.2 million customers in the Netherlands and Belgium and 5,200 employees. NN Group was much larger than Delta Lloyd; it had four times as many customers and double the number of employees. In December 2016, the two reached an agreement after NN Group raised the bid by 10 euro cents to €5.40 per share. The combination would become a strong player in pensions, non-life insurance and asset management in the Netherlands and Belgium. Furthermore, it would be able to work more efficiently, achieving significant cost benefits of at least €150 million by 2020. Trade union CNV Vakmensen feared that between 1,000 and 1,500 jobs will be lost in the process. On 1 June 2017 Delta Lloyd ceased to exist for good. The legal merger with NN Group took effect on that day. Delta Lloyd shareholders received NN Group shares. On May 31, Delta Lloyd shares traded for the last time and the company disappeared from the stock exchange.