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Insurance group Delta Lloyd says operating profit may slip 10%

Thursday 08 November 2012

Banking and insurance group Delta Lloyd on Thursday said its operating profit may be down 10% this year, compared with 2011.

Premium income was down 11% in the third quarter, with life insurance accounting for the bulk of the decline, the company said in a statement.

'The low interest rate environment is impacting our potential to grow the operational result,' chief executive Niek Hoek said. 'If interest rates persist at this low level we expect a 10% decrease in operational result.'

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