VIVAT Annual Results 2016

• Accelerated reorganisation completed in 2016, bringing down the annual expense base by EUR 100 million
• Full new management team in place
• Solvency II ratio (standard model) of VIVAT NV increased to 175% at year-end 2016 from 161% at year-end 2015
• Increase in profit to EUR 159 million in 2016 (2015: EUR 109 million) despite the negative impact of reorganisation costs and the hail storm
• Strong commitment of shareholder, evidenced by refinancing loans and providing additional subordinated loans to support growth initiatives
• Decrease in gross premiums as a result of the individual life market shrinking; premiums Life Corporate and P&C remained stable in a very competitive market

Ron van Oijen, Chairman of the Executive Board:
“Reorganisation and stabilisation was the company's priority in 2016, the first full year following the acquisition by Anbang. A new organisational structure has been implemented with a full new management team in place. Various aspects of the strategy changes initiated in 2015 were accelerated, aimed at structurally improving VIVAT's foundations and creating a leading, customer-centric and innovation-driven insurance company that can respond to market developments effectively.”

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