Delta Lloyd abandons planned sale

Dutch insurer Delta Lloyd has discontinued the sale process of Delta Lloyd Bank Belgium as talks failed with the prospective buyer.

The bank will remain as part of Delta Lloyd. The insurer said that the negotiations with a prospective buyer had not resulted in agreement on price and considerations considered acceptable to Delta Lloyd.

Niek Hoek, executive board chairman, said: "Delta Lloyd Bank Belgium is a healthy, profitable business that is well able to operate independently within the group. We have every confidence in the bank's future and firmly believe that this decision provides continuity and clarity to customers and employees alike.

“Delta Lloyd Bank Belgium will continue developing its expertise in the areas of asset accumulation and wealth creation for the benefit of its customers, while also remaining an important distribution channel for life insurance and pension products of Delta Lloyd Life in Belgium."