Netherlands News

Delta Lloyd Uncertainties Persist Amid Concern It May Need to Plug Capital Gap

Delta Lloyd NV extended a record decline on Tuesday after Goldman Sachs Group Inc. cut the shares to neutral amid concern the insurer may need to ask shareholders for funds to plug a capital gap. The stock plummeted 8.2 percent …

Update: Delta Lloyd’s $588 Million First Half Loss Raises Capital Concerns

Delta Lloyd NV fell the most on record after interest-rate hedging and declines in bonds spurred a first-half loss, raising concern the Dutch insurer may need to raise capital. The shares fell 20 percent to 13.17 euros at 5:30 p.m. in Amsterdam, …

Delta Lloyd’s CFO Resigns After Court Upholds Fine for Information Abuse

Delta Lloyd NV Chief Financial Officer Emiel Roozen stepped down after a court upheld a central-bank decision fining the insurer for making trades based on confidential information. Supervisory Board Chairman Jean Frijns will also resign on Oct. 1, the Amsterdam-based company said, …

ING to Sell $1.3 Billion of Shares in Insurer NN Group to Institutional Investors

ING Groep NV is selling a 1.2 billion-euro ($1.3 billion) stake in insurer NN Group NV as it seeks to exit the company by the end of next year. ING is selling 45 million shares of NN to institutional investors, decreasing its …

DUAL Launches Marine Operations in The Netherlands

DUAL, the underwriting agency arm of Hyperion Insurance Group, has opened its first office in The Netherlands. The Rotterdam office will initially write marine and energy lines with DUAL’s complete suite of products added over time, according to DUAL in …

Delta Lloyd Drops Plan to Sell Belgian Bank Unit

Dutch insurer Delta Lloyd NV abandoned plans to sell its Belgian bank, saying talks with a would-be buyer fell through on terms including the price. The bank, which is profitable, will now stay part of Delta Lloyd and remain a …

ING in New Deal with EU over State Aid, Punishment

The Netherland’s based ING Groep NV has agreed to a deal with European regulators on when it will repay the remaining €3 billion ($3.84 billion) it still owes in state aid. The bank, which fell afoul of EU laws when …

Barclays Bank Shows Retail Intent with Takeover of ING Direct

Barclays’ new chief executive set the course firmly towards retail banking on Tuesday with his first deal since replacing Bob Diamond – the takeover of ING’s British savings and loan business and its 1.5 million customers. Antony Jenkins, previously head …

Moody’s Changes EU Rating Outlook to Negative

Moody’s Investors Service has changed its outlook on the ‘Aaa’ rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU’s four biggest budget backers: Germany, France, UK …

Swiss Re Corporate Solutions Opens Netherlands for Benelux Market

Swiss Re Corporate Solutions announced that it has opened an office in Amstelveen, the Netherlands, to “reinforce its presence in the Benelux region. The office will provide insurance solutions to large and upper-middle market corporations domiciled in the region, offering …