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IPE special report May 2018

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Aviva to float Delta Lloyd

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  • Aviva to float Delta Lloyd

GLOBAL - Aviva is planning to float some its holding in Delta Lloyd, the Netherlands-headquartered life insurance operation, in a bid to give the firm more capital and ahead of what officials claim will be consolidation in the Netherlands.

Officials today revealed within the group's half-year financial report that it would launch an initial price offering (IPO) on the Amsterdam Stock Exchange for a "minority" of its 92% shareholding, as this would allow it to reallocate existing capital "to other profitable opportunities" or rebalance its balance sheets through "restructuring opportunities".

Part of the intention is to use assets to assist the growth of the firm's Benelux presence as it claimed "a public listing would help to better position Delta Lloyd ahead of anticipated consolidation in the Netherlands".

No date has yet been set for the IPO but work has already begun, officials said.

Elsewhere within the Aviva Group, the investment management business - Aviva Investors - reported it saw net new business flows of £3bn (€3.5bn).

That said, its funds managed by Aviva Investors actually fell slightly by the end of June from £236bn at the end of December 2008 to £222bn in the first half of 2009.

Aviva said the major fall in equity values in the second half of last year has had a knock-on effect for its funds this year, alongside further capital declines on its real estate, which in turn has lowered its fees paid and profits.

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email julie.henderson@ipe.com

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