Delta Lloyd to sell German life business to Athene Holding
January 15 2015 - 1:31AM
Delta Lloyd NV ("Delta Lloyd") today announces 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."
About the
transaction
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[1].
[1] Pro forma
effect on shareholders' funds and IGD group solvency at 30
September 2014
Read the full press
release
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Delta Lloyd via Globenewswire
HUG#1886720
China Distance Education (NYSE:DL)
Historical Stock Chart
From Mar 2024 to Apr 2024
China Distance Education (NYSE:DL)
Historical Stock Chart
From Apr 2023 to Apr 2024