Interview: Delta Lloyd CRO – why an early move to market consistency paid off

An early adopter of a risk-based approach to managing its balance sheet, Dutch insurer Delta Lloyd’s economic approach left it as one of the few Benelux firms to exit the credit crunch with its risk management approach intact. Chief risk officer Theo Berg tells Aaron Woolner how it achieved this

 

Life & Pension Risk: Delta Lloyd was one of the first Dutch insurers to move to an economic balance sheet; does this mean Solvency II will only require a small transition?

Theo Berg, chief risk officer, Delta Lloyd: In theory, because we already run our company on an economic basis there shouldn’t be too much difference between how we operate now and in a post-Solvency II world. But in reality there will be a gap. This is because despite everyone calling Solvency II an economically-based