• EN
  • Language: English (EN) Dutch (NL)

    VIVAT Annual Results 2015

    11 March 2016

    Strategic Review on Track

    Return to profit in 2015

    • Profit for 2015 at € 109 million (2014: loss of € 612 million)
    • Increase in net underlying result for 2015 to € 33 million (2014: € 0 million)
    • Strong capital position following € 1.35 billion capital injection by new shareholder Anbang reflected in Solvency I ratio of 240% at 31 December 2015
    • Solvency II ratio at year-end 2015 estimated to be approximately 160%
    • Commercial performance remains a challenge
    • VIVAT concluded strategic review; focus on innovation to improve customer experience, reduce complexity and cut costs

    Statement of the Executive Board

    “2015 was an impactful year for VIVAT. Its acquisition by Anbang marked the end of a challenging period for VIVAT following the nationalisation of SNS REAAL, its former shareholder. With Anbang’s support, as shown by the EUR 1.35 billion capital injection, VIVAT now has the opportunity to transform its business, allowing it to become an agile leading insurer in the Netherlands. Following substantial losses in both 2013 and 2014, VIVAT returned to profit in 2015, both on a net and an underlying basis. Due to the persistently challenging market, premium income remained under pressure. In order to maintain and increase its profitability on a structural basis, VIVAT concluded a strategic review to transform its organisation. VIVAT will increase its focus on customers, offering innovative products and sophisticated digital solutions. To create an agile organisation, VIVAT will simplify its governance structure and reduce the complexity of the organisation. With these plans, we expect to be able to achieve considerable cost savings. Our shareholder actively supports this transformation.”

    For the full press release about the Annual Results please download the pdf below.