Delta Lloyd is simplifying its organisation, reducing the number of directors by 20 to 32 and merging some departments, the insurance group said in a statement on Thursday.

The company says the aim of the revamp is to boost efficiency and transparency. ‘Processes, systems and communications must be drastically simplified if the organisation is to become more customer-focused and effective,’ Delta Lloyd said in a statement.
Announcing its first-half financial results, the company said first half net operating profit rose 5% to €167m, slightly below analysts expectations.
The company, majority-owned by British insurer Aviva, hopes the revamp will reduce costs by some €100m between 2011 and 2012
‘A simpler organisation, a less complex range of products and services and fewer risk bearers will also reduce costs. And this is needed as a result of lower margins and increased price pressure,’ the statement said.