Delta Lloyd Group
Corporate brand
UnclaimedA Dutch insurance and financial-services group that operated in the Netherlands, Belgium and Germany before being acquired and legally merged into NN Group in 2017.
Last updated August 22, 2026
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Overview
Delta Lloyd Group was a Dutch insurance and financial-services group whose businesses included life and non-life insurance, pensions, savings, investment management, financial planning and limited banking activities. Its principal market was the Netherlands, where the group was described as one of the country’s largest insurers, while it also maintained operations in Belgium and Germany. The group brought together several established insurance and financial brands, most notably Delta Lloyd, OHRA and ABN AMRO Verzekeringen. The company’s roots extended back to 1807, when the Hollandsche Societeit van Levensverzekeringen was established. Over the following decades, the predecessor businesses expanded through combinations and acquisitions. Hollandsche Societeit merged with Amstleven, formally known as the Amsterdamsche Maatschappij van Levensverzekeringen, in 1966 and adopted the Delta name. The broader organization subsequently merged with NedLloyd in 1967. Its predecessor companies had also developed non-life activities and specialist businesses, including pleasure-craft insurance through Nereus, an affiliate of the Arnhemsche Verzekering maatschappij. In 1973, all shares in Delta were acquired by Commercial Union, the British insurance group that later became part of Aviva. A major later step was the 1999 merger between Delta Lloyd and OHRA. The combined company was renamed Delta Lloyd Group in 2002. This created a broader financial-services platform combining insurance, savings, pensions and investment-related activities under a group structure that continued to use multiple consumer-facing brands. Delta Lloyd became a listed company on NYSE Euronext Amsterdam on 3 November 2009. The initial public offering reduced Aviva’s ownership while allowing a substantial portion of the shares to trade publicly. Aviva subsequently sold its remaining stake in stages during 2012 and 2013, leaving approximately 95% of the group publicly traded. Nuts OHRA, a Dutch foundation associated with the group’s history, retained a minority holding. The group’s operating businesses included Delta Lloyd’s core insurance and financial-planning activities, OHRA’s direct and consumer-oriented insurance operations, and ABN AMRO Verzekeringen, a joint venture with ABN AMRO through which Delta Lloyd held exclusive rights to distribute insurance via ABN AMRO offices. Delta Lloyd also operated a bank with products such as savings accounts and mortgages. Its health-insurance presence was comparatively limited; the health-insurance division was sold to CZ Group with effect from 1 January 2008. Delta Lloyd’s independent existence ended after NN Group announced an acquisition proposal in October 2016. Following negotiations, NN Group and Delta Lloyd agreed in December 2016 on a cash offer of €5.40 per share, valuing the transaction at approximately €2.5 billion. The proposed combination was intended to strengthen the parties’ positions in pensions, non-life insurance and asset management in the Netherlands and Belgium and to produce cost efficiencies. The transaction also generated concern about employment reductions, with the trade union CNV Vakmensen warning that between 1,000 and 1,500 positions could be affected. The merger became legally effective on 1 June 2017. Delta Lloyd shareholders received NN Group shares, Delta Lloyd shares traded for the final time on 31 May 2017, and the Delta Lloyd corporate entity ceased to exist as an independent listed group.
History
Delta Lloyd Group developed from a long succession of Dutch insurance businesses. Its earliest identified predecessor was the Hollandsche Societeit van Levensverzekeringen, founded in 1807. The predecessor organization later operated alongside or acquired non-life insurance companies, including Koepel and Bataafsche. Amstleven, the common name for the Amsterdamsche Maatschappij van Levensverzekeringen, acquired the Arnhemsche Verzekering maatschappij in 1964; the latter’s affiliated businesses included Nereus, a specialist pleasure-craft insurer. In 1966, Hollandsche Societeit and Amstleven merged, and the resulting organization adopted the name Delta. Before the group could complete its consolidation, Delta merged with NedLloyd in 1967. The businesses had previously operated from offices distributed around Amsterdam’s central canal district. The group subsequently built a head office in Amsterdam Slotervaart, and its non-life operations were moved there in 1969. A decisive ownership change occurred in 1973, when the British insurer Commercial Union acquired all shares in Delta. Commercial Union later became part of Aviva, linking Delta Lloyd’s corporate history to one of the United Kingdom’s major insurance groups. Delta merged with OHRA in 1999. The combined organization was renamed Delta Lloyd Group in 2002, establishing the group identity that remained in use until its later acquisition. Delta Lloyd Group operated as a multi-line insurer and financial-services organization. Delta Lloyd formed its central business and offered insurance, savings products and financial planning. OHRA, originally established in 1925 as a mutual health-insurance fund for senior civil servants, became a significant consumer-facing brand. The group also participated in ABN AMRO Verzekeringen, a joint venture with ABN AMRO that gave Delta Lloyd exclusive rights to sell insurance through ABN AMRO offices. In addition, Delta Lloyd maintained limited banking operations, including savings accounts and mortgages. Its health-insurance division was sold to CZ Group effective 1 January 2008. The group entered the public markets on 3 November 2009 through a listing on NYSE Euronext Amsterdam. The offering placed between 38% and 42% of the shares with public investors, while Aviva reduced its holding from approximately 92% to a range of roughly 50% to 54%. Nuts OHRA retained an 8% stake at that stage. Aviva later sold its remaining shares in July 2012 and January 2013, after which approximately 95% of Delta Lloyd was publicly owned. In October 2016, NN Group announced an unsolicited offer for all Delta Lloyd shares. The proposed combination would bring together two Dutch insurance groups and was intended to create a stronger position in pensions, non-life insurance and asset management in the Netherlands and Belgium. NN Group increased its proposal by €0.10 per share during the negotiations, and the parties reached an agreement in December 2016 at €5.40 per share. The transaction was reported at approximately €2.5 billion. The companies also projected substantial cost benefits, while CNV Vakmensen expressed concern that the integration could eliminate between 1,000 and 1,500 jobs. The acquisition was completed through a legal merger on 1 June 2017. Delta Lloyd shareholders received NN Group shares. Delta Lloyd’s final trading day was 31 May 2017, after which the group disappeared from the stock exchange and ceased to exist as a separate corporate entity.
- 2017
Delta Lloyd ceases to exist as an independent group
[1]The legal merger with NN Group takes effect on 1 June 2017, following Delta Lloyd’s final stock-market trading day on 31 May.
- 2016
NN Group agrees to acquire Delta Lloyd
[1]Following an initial offer and subsequent negotiations, NN Group and Delta Lloyd agree to a transaction valued at approximately €2.5 billion.
- 2013
Aviva exits its remaining holding
[1]After staged disposals in 2012 and 2013, Aviva no longer retains its former controlling position and approximately 95% of Delta Lloyd becomes publicly traded.
- 2009
Initial public offering on NYSE Euronext Amsterdam
[1]Delta Lloyd Group becomes publicly traded on 3 November 2009.
- 2008
Health-insurance division is sold to CZ Group
[1]Delta Lloyd sells its health-insurance division to CZ Group, with the transfer taking effect on 1 January 2008.
- 2002
The group adopts the Delta Lloyd Group name
[1]The combined Delta and OHRA organization is renamed Delta Lloyd Group.
- 1999
Delta merges with OHRA
[1]Delta and OHRA combine, creating the corporate basis for the later Delta Lloyd Group structure.
- 1973
Commercial Union acquires Delta
[1]All shares in Delta are acquired by British insurer Commercial Union, later associated with Aviva.
- 1967
Delta merges with NedLloyd
[1]Delta merges with NedLloyd as the predecessor organizations continue their consolidation.
- 1966
Hollandsche Societeit merges with Amstleven
[1]The two insurance organizations combine and the resulting business adopts the Delta name.
Products and positioning
A Dutch multi-line insurer and financial-services group serving consumers and businesses through direct brands, banking relationships and institutional distribution. Its market proposition combined insurance, pensions, savings, investments and financial planning, with Delta Lloyd as the core brand and OHRA and ABN AMRO Verzekeringen as important associated businesses.
Insurance and financial services
Delta Lloyd
Delta Lloyd was the group’s core operating brand. It provided life and non-life insurance, savings products and financial-planning services, and was also associated with pension, investment and banking activities within the wider group.
Direct insurance · 1925
OHRA
OHRA was a consumer-facing insurance brand within the Delta Lloyd structure. It originated in 1925 as a mutual health-insurance fund for senior civil servants and later became part of the group’s broader portfolio of insurance offerings.
Distributed insurance
ABN AMRO Verzekeringen
ABN AMRO Verzekeringen was a joint venture between ABN AMRO and Delta Lloyd. Delta Lloyd held the exclusive right to sell insurance through ABN AMRO offices, giving the group access to the bank’s customer-distribution network.
Banking products
Delta Lloyd Bank
Delta Lloyd’s banking activities were limited in scope compared with its insurance operations. They included savings accounts and mortgage products, complementing the group’s insurance, investment and financial-planning services.
Brand decisions
2017
Legal merger into NN GroupM&ABackground
The acquisition agreement required the integration of Delta Lloyd into NN Group.
Action taken
The legal merger took effect on 1 June 2017, and Delta Lloyd shareholders received NN Group shares.
Aftermath
Delta Lloyd’s shares traded for the last time on 31 May 2017, and the group ceased to exist as an independent listed company.
2016
Agreement to be acquired by NN GroupM&ABackground
NN Group sought to combine its larger insurance platform with Delta Lloyd’s positions in Dutch and Belgian insurance, pensions and asset management.
Action taken
After NN Group increased its proposal by €0.10 per share, the parties agreed in December 2016 to a €5.40-per-share transaction.
Aftermath
The combination was expected to create operating efficiencies, while trade union CNV Vakmensen warned that between 1,000 and 1,500 jobs could be lost.
Reported transaction value. Approximately €2.5 billion (December 2016 agreement)
2009
Initial public offeringOtherBackground
Delta Lloyd Group moved from ownership dominated by Aviva toward a publicly traded structure.
Action taken
The company listed on NYSE Euronext Amsterdam on 3 November 2009, placing a substantial portion of its shares with public investors.
Aftermath
Aviva reduced its stake, and later disposals in 2012 and 2013 left approximately 95% of the group publicly traded.
2008
Sale of the health-insurance division to CZ GroupM&ABackground
Delta Lloyd was a relatively small participant in the Dutch health-insurance market and decided to transfer its health-insurance division to CZ Group.
Action taken
The division was sold to CZ Group, with the transaction taking effect on 1 January 2008.
Aftermath
Delta Lloyd continued as a broader insurer and financial-services group while reducing its direct health-insurance exposure.
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