Insurer Delta Lloyd suffered a colossal loss of 100 million euros between 2010 and 2015 on investments in American life insurance policies. Investing premium income from customers is a core activity of Delta Lloyd, just like all insurers. 
Policyholders may assume that this is done in a prudent manner and that the insurer takes the management of the associated investment risks seriously. This has not happened sufficiently in this case. According to DNB (De Nederlandsche Bank  ), the investments of Delta Lloyd involved too many risks. 
The investments in American life insurance policies on which the group suffered such a substantial loss are a striking example of the risks that the banking and insurance world is taking. Delta Lloyd however continued to passionately defend its investment policy.
 The dispute between DNB and Delta Lloyd eventually went so far that DNB lost confidence in the most important directors and acted decisively. DNB imposed a record fine on Delta Lloyd.
This left huge scars and stains on Delta Lloyd. In this series of portraits I made, (former) employees of Delta Lloyd (now part of NN - Group) look back on this. 
NN - Group is one of the largest insurance and asset management companies in the Netherlands.
​​​​​​​Commissioned by NN-Group/Delta Lloyd

Other commissioned work

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