THE HAGUE, the Netherlands, August 9, 2012 /PRNewswire/ --
Higher underlying earnings driven by growth, cost reductions and favorable currency movements
- Underlying earnings increase 10% to EUR 443 million
- Impairments of EUR 42 million remain at low level
- Net income of EUR 254 million includes one-time charge of EUR 265 million before tax related to product improvements for unit-linked insurance policies in the Netherlands
- Return on equity of 6.8%, or 7.7% excluding run-off businesses
Total sales increase as a result of continued strong pension and asset management deposits
- Deposits up 45% to EUR 9.8 billion driven by sales of US pensions and new asset management mandates
- Accident and health sales increase 29% to EUR 187 million, driven mainly by growth in the Americas
- New life sales stable at EUR 428 million; strong US sales offset by lower sales in NL and UK
- Market consistent value of new business of EUR 117 million, mainly the effect of low interest rates
Interim dividend supported by strong capital position and cash flows
- IGD a) solvency ratio increases to 216%; IGD surplus capital of EUR 8.3 billion
- Capital base ratio increases to 74.6%; on track to exceed minimum of 75% by the end of 2012
- Operational free cash flow, excluding market impact and one-time items, amounts to EUR 296 million
- Interim dividend of EUR 0.10 per common share
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