DELTA LLOYD : 07 AUGDelta Lloyd: Solid development of new business, solvency and IFRS result

• IGD group solvency up 23pp to 207% (year-end 2013: 184%), well above ambition of 200%, mainly due to perpetual subordinated note transaction

• IFRS result after tax and non controlling interests € 280 million (half-year 2013: € -92 million2)
• Group EEV up 2% to € 4.6 billion (year-end 2013: € 4.4 billion) at € 23.38 per share

Niek Hoek, Chairman of the Executive Board: "Delta Lloyd showed leadership in profitable new business, particularly in our group life insurance segment, which is performing strongly, enjoying good margins and a substantial increase in new life annual premiums. Our general insurance business is also performing well, given the market circumstances, and we have secured an excellent inflow of new mortgages. We continued our operational enhancement, increasing cost efficiency, while achieving higher customer satisfaction and expanding our market share. Delta Lloyd's capital position is robust, our regulatory solvency rose, as well as our shareholders' funds."

Key figures
(in millions of euros, unless otherwise stated)	Half-year 2014	Half-year 2013	Change
Gross written premiums	2,196	2,388	-8%
Operational expenses	369	379	-3%
Operational result after tax and non-controlling interests	191	206	-7%
Result (IFRS) after tax and non-controlling interests	280	-92	n.m.
COR	97.2%	96.1%	1.1pp

Key figures
(in millions of euros, unless otherwise stated)	30 June 2014	Year-end 2013	Change
Internal rate of return of new life sales (compared to half-year)	10%	8%	2pp
Shareholders' funds after non-controlling interests	2,826	2,621	8%
Regulatory (IGD) solvency insurance entities	240%	213%	27pp
Regulatory (IGD) group solvency	207%	184%	23pp
Group European Embedded Value	4,555	4,447	2%
Life European Embedded Value	4,539	4,403	3%

Key figures per Delta Lloyd ordinary share
(in euros)	Half-year 2014
Closing price on 30 June 2014	18.54
Shareholders' funds	14.51
Result (IFRS) after tax and non-controlling interests	1.44
Operational result after tax and non-controlling interests	0.98
Group European Embedded Value	23.38

On Thursday 7 August 2014, Niek Hoek (Executive Board Chairman) and Emiel Roozen (CFO) will give a presentation for analysts; the presentation can also be viewed via webcast on our site.

Analyst presentation:   7 August 2014, 11.30 am (CET)
                                               Conference call: +31 20 - 531 58 71 (English language)
Location:                             Delta Lloyd, Amstelplein 6, 1096 BC Amsterdam

This press release (in a Dutch translation) and the analyst presentation are also available at www.deltalloydgroep.com and on our iPad app for Investors and Media.

Media Relations             +31 (0)20 594 44 88
Martijn Donders, Anneloes Geldermans
mediarelations@deltalloyd.nl

Investor Relations          +31 (0)20 594 96 93
Roeland Haanen, Hans Duine, Marscha Corzilius
ir@deltalloyd.nl

• This press release contains the figures of the first six months of 2014 for Delta Lloyd NV ('Delta Lloyd'), inclusive of Delta Lloyd Levensverzekering, Delta Lloyd Schadeverzekering, ABN AMRO Verzekeringen, Delta Lloyd Life Belgium, Delta Lloyd Asset Management, Delta Lloyd Bank Netherlands, Delta Lloyd Bank Belgium and Delta Lloyd Deutschland.
• As the German business is in run-off and no commercial activities are undertaken by the German business, Delta Lloyd Deutschland is excluded from the volume based KPI's (Gross Written Premiums and New Business) in this press release. In all other KPI's Delta Lloyd Deutschland is included, as the run-off results of the German operations will be recorded in the books of Delta Lloyd.
• The results and income of the ABN AMRO Verzekeringen joint venture are fully consolidated in the figures. Adjustment for the 49% interest of ABN AMRO Bank Netherlands is included in 'non-controlling interests' in the consolidated income statement.
• The figures in this press release have not been audited. They are partly based on the enclosed interim financial report 2014 and partly on internal management information reports.
• The application of the new IFRS10 standard affected the financial figures of Delta Lloyd (see section 2.6.2 of the interim financial report 2014). Several investment funds now have to be consolidated; this leads to a balance sheet extension for the third party interests amounting to € 3,790.0 million at year-end 2013.
• Certain statements contained in this press release that are not historical facts are "forward-looking statements". These forward-looking statements are based on management's beliefs and projections and on information currently available to them. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Delta Lloyd Group's control and all of which are based on management's current beliefs and expectations about future events.
• Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Delta Lloyd Group undertakes no duty to and will not update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement as a result of risks and uncertainties facing Delta Lloyd Group and its subsidiaries. Such risks, uncertainties and other important factors include, among others: (i) changes in the financial markets and general economic conditions, (ii) changes in competition from local, national and international companies, new entrants in the market and self-insurance and changes to the competitive landscape in which Delta Lloyd Group operates, (iii) the adoption of new, or changes to existing, laws and regulations such as Solvency II, (iv) catastrophes and terrorist-related events, (v) default by third parties owing money, securities or other assets on their financial obligations, (vi) equity market losses, (vii) long- and/or short-term interest rate volatility, (viii) illiquidity of certain investment assets, (ix) flaws in underwriting assumptions, pricing and/or claims reserves, (x) the termination of or changes to relationships with principal intermediaries or partnerships, (xi) the unavailability and unaffordability of reinsurance, (xii) flaws in Delta Lloyd Group's underwriting, operating controls or IT systems, or a failure to prevent fraud, (xiii) a downgrade (or potential downgrade) of Delta Lloyd Group's credit ratings, and (xiv) the outcome of pending, threatened or future litigation or investigations.
• Should one or more of these risks or uncertainties materialise, or should any underlying assumptions prove to be incorrect, Delta Lloyd's actual financial condition or results of operations could differ materially from those described herein as anticipated, believed, estimated or expected.
• Please see the Annual Report for the year-ended 31 December 2013 for a description of certain important factors, risks and uncertainties that may affect Delta Lloyd's businesses.