Niek Hoek, CEO of Dutch
composite insurer Delta Lloyd Group (DLG), has called on the
Netherlands’ government to restore fair competition in the
country’s financial services market.
After three of government
support, it is now time for the government-aided banks and insurers
to stand on their own two feet again, he stressed.
UK insurer Aviva has a 57.9%
stake in Delta Lloyd Group.
In 2008, the Dutch government
came to the aid of three of the country’s major financial sector
players. These were bancassurer ING Group, life insurer Fortis (now
Ageas), bancassurer SNS Reaal and ABN Amro Bank.
The Dutch government
announced recently that it plans to significantly reduce its
involvement in the financial sector, starting in 2011 and probably
extending over five years.
The Dutch government pumped a
total of almost €40bn ($54bn) into its support of financial