Building confidence Building confidence Profile With nearly 4,500 employees and having generated € 4.7 ASR Nederland 2010 annual report billion in revenue for 2010, ASR Nederland is the third largest insurance company in the Netherlands. ASR Nederland offers insurance products, such as pensions, life insurance, non-life insurance, occupational disability and health insurance contracts, to Dutch retail and corporate clients. ASR Nederland also sells mortgages and provides ASR Nederland 2010 annual report banking services (ASR Bank and ASR Hypotheken). ASR Nederland’s labels include ASR Verzekeringen, De Amersfoortse, Ardanta, Ditzo, Europeesche Verzekeringen and ASR Vastgoed. Products and services are offered using a distribution model that gives customers a choice of buying insurance contracts from intermediaries or via direct channels, e.g. online, as needed. ASR Nederland has regard for the interests of customers, distribution partners, the shareholder, employees, non- governmental organizations (NGOs) and other stake- holders, having duly embedded the principle of care in its processes. ASR Nederland’s corporate social responsibility and concern for the environment are reflected in its compliance with the principles of socially responsible investment (SRI). ASR Nederland is the largest private land owner in the Netherlands. A socially responsible investor, its land ownership includes Landgoed De Utrecht, a 6,671-acre estate in the south of the Netherlands. ASR Foundation supports many community initiatives every year, one example being the ‘Verzekerd van Jeugdzorg’ (Assured of Youth Care) programme. The Dutch State has been ASR Nederland’s sole shareholder since 3 October 2008. Building confidence Building confidence Profile With nearly 4,500 employees and having generated € 4.7 ASR Nederland 2010 annual report billion in revenue for 2010, ASR Nederland is the third largest insurance company in the Netherlands. ASR Nederland offers insurance products, such as pensions, life insurance, non-life insurance, occupational disability and health insurance contracts, to Dutch retail and corporate clients. ASR Nederland also sells mortgages and provides ASR Nederland 2010 annual report banking services (ASR Bank and ASR Hypotheken). ASR Nederland’s labels include ASR Verzekeringen, De Amersfoortse, Ardanta, Ditzo, Europeesche Verzekeringen and ASR Vastgoed. Products and services are offered using a distribution model that gives customers a choice of buying insurance contracts from intermediaries or via direct channels, e.g. online, as needed. ASR Nederland has regard for the interests of customers, distribution partners, the shareholder, employees, non- governmental organizations (NGOs) and other stake- holders, having duly embedded the principle of care in its processes. ASR Nederland’s corporate social responsibility and concern for the environment are reflected in its compliance with the principles of socially responsible investment (SRI). ASR Nederland is the largest private land owner in the Netherlands. A socially responsible investor, its land ownership includes Landgoed De Utrecht, a 6,671-acre estate in the south of the Netherlands. ASR Foundation supports many community initiatives every year, one example being the ‘Verzekerd van Jeugdzorg’ (Assured of Youth Care) programme. The Dutch State has been ASR Nederland’s sole shareholder since 3 October 2008. Building confidence Building confidence Profile With nearly 4,500 employees and having generated € 4.7 ASR Nederland 2010 annual report billion in revenue for 2010, ASR Nederland is the third largest insurance company in the Netherlands. ASR Nederland offers insurance products, such as pensions, life insurance, non-life insurance, occupational disability and health insurance contracts, to Dutch retail and corporate clients. ASR Nederland also sells mortgages and provides ASR Nederland 2010 annual report banking services (ASR Bank and ASR Hypotheken). ASR Nederland’s labels include ASR Verzekeringen, De Amersfoortse, Ardanta, Ditzo, Europeesche Verzekeringen and ASR Vastgoed. Products and services are offered using a distribution model that gives customers a choice of buying insurance contracts from intermediaries or via direct channels, e.g. online, as needed. ASR Nederland has regard for the interests of customers, distribution partners, the shareholder, employees, non- governmental organizations (NGOs) and other stake- holders, having duly embedded the principle of care in its processes. ASR Nederland’s corporate social responsibility and concern for the environment are reflected in its compliance with the principles of socially responsible investment (SRI). ASR Nederland is the largest private land owner in the Netherlands. A socially responsible investor, its land ownership includes Landgoed De Utrecht, a 6,671-acre estate in the south of the Netherlands. ASR Foundation supports many community initiatives every year, one example being the ‘Verzekerd van Jeugdzorg’ (Assured of Youth Care) programme. The Dutch State has been ASR Nederland’s sole shareholder since 3 October 2008. PREmIUm DISTRIBUTION for 2009 PREmIUm DISTRIBUTION for 2010 solvency 2009 (IN BILLIONS OF euros) solvency 2010 (IN BILLIONS OF euros) Non-Life 48% Non-Life 48% Available DNB solvency € 3.5 bln Available DNB solvency € 3.4 bln Life 52% Life 52% Required DNB solvency € 1.5 bln Required DNB solvency € 1.5 bln Gross INSURANCE PREmIUm (IN mILLIONS OF euros) Profit for THE YEAR (IN mILLIONS OF euros) BRAND TYPE products DISTRIBUTION 5,000 400 Ardanta Specialist Funeral multi-channel 4,600 320 4,200 240 Individual-life, Non-life, ASR Verzekeringen Generalist Intermediaires 3,800 160 Group life and mortgages 3,400 80 De Amersfoortse Specialist Income Intermediaires 3,000 0 2009 2010 2009 2010 Ditzo Generalist Non-life Internet 4,914 255 4,738 317 Europeesche Verzekeringen Specialist Travel and Leisure multi-channel Cost-PREmIUm Ratio FTE 4,600 14.0 4,480 13.5 4,360 13.0 12.5 4,240 12.0 4,120 13.3% 12.7% 12.9% 13.6% 13.7% 12.0% 11.5 4,000 11.0 2009 2009 2010 2010 Cost-premium ratio Cost-premium ratio Cost ratio ASR Nederland Life segment Non-life segment 2010 4,454 4,333 Operating ExPENSES LIFE AND NON-LIFE SEGmENT Operating ExPENSES SEGmENT OTHER (IN mILLIONS OF euros) (IN mILLIONS OF euros) 0 0 -100 -25 -200 -50 -300 -75 -400 -100 -500 -125 -600 -150 2009 2010 2009 2010 -572 -80 -541 -131 PREmIUm DISTRIBUTION for 2009 PREmIUm DISTRIBUTION for 2010 solvency 2009 (IN BILLIONS OF euros) solvency 2010 (IN BILLIONS OF euros) Non-Life 48% Non-Life 48% Available DNB solvency € 3.5 bln Available DNB solvency € 3.4 bln Life 52% Life 52% Required DNB solvency € 1.5 bln Required DNB solvency € 1.5 bln Gross INSURANCE PREmIUm (IN mILLIONS OF euros) Profit for THE YEAR (IN mILLIONS OF euros) BRAND TYPE products DISTRIBUTION 5,000 400 Ardanta Specialist Funeral multi-channel 4,600 320 4,200 240 Individual-life, Non-life, ASR Verzekeringen Generalist Intermediaires 3,800 160 Group life and mortgages 3,400 80 De Amersfoortse Specialist Income Intermediaires 3,000 0 2009 2010 2009 2010 Ditzo Generalist Non-life Internet 4,914 255 4,738 317 Europeesche Verzekeringen Specialist Travel and Leisure multi-channel Cost-PREmIUm Ratio FTE 4,600 14.0 4,480 13.5 4,360 13.0 12.5 4,240 12.0 4,120 13.3% 12.7% 12.9% 13.6% 13.7% 12.0% 11.5 4,000 11.0 2009 2009 2010 2010 Cost-premium ratio Cost-premium ratio Cost ratio ASR Nederland Life segment Non-life segment 2010 4,454 4,333 Operating ExPENSES LIFE AND NON-LIFE SEGmENT Operating ExPENSES SEGmENT OTHER (IN mILLIONS OF euros) (IN mILLIONS OF euros) 0 0 -100 -25 -200 -50 -300 -75 -400 -100 -500 -125 -600 -150 2009 2010 2009 2010 -572 -80 -541 -131 Building confidence Building confidence Profile With nearly 4,500 employees and having generated € 4.7 ASR Nederland 2010 annual report billion in revenue for 2010, ASR Nederland is the third largest insurance company in the Netherlands. ASR Nederland offers insurance products, such as pensions, life insurance, non-life insurance, occupational disability and health insurance contracts, to Dutch retail and corporate clients. ASR Nederland also sells mortgages and provides ASR Nederland 2010 annual report banking services (ASR Bank and ASR Hypotheken). ASR Nederland’s labels include ASR Verzekeringen, De Amersfoortse, Ardanta, Ditzo, Europeesche Verzekeringen and ASR Vastgoed. Products and services are offered using a distribution model that gives customers a choice of buying insurance contracts from intermediaries or via direct channels, e.g. online, as needed. ASR Nederland has regard for the interests of customers, distribution partners, the shareholder, employees, non- governmental organizations (NGOs) and other stake- holders, having duly embedded the principle of care in its processes. ASR Nederland’s corporate social responsibility and concern for the environment are reflected in its compliance with the principles of socially responsible investment (SRI). ASR Nederland is the largest private land owner in the Netherlands. A socially responsible investor, its land ownership includes Landgoed De Utrecht, a 6,671-acre estate in the south of the Netherlands. ASR Foundation supports many community initiatives every year, one example being the ‘Verzekerd van Jeugdzorg’ (Assured of Youth Care) programme. The Dutch State has been ASR Nederland’s sole shareholder since 3 October 2008. (in millions of euros) 2010 2009 % Gross premiums life 2,514 2,692 -7% Gross premiums non-life 2,310 2,346 -2% eliminations -86 -124 -31% Total gross insurance premiums 4,738 4,914 -4% Profit for the year, life 276 248 11% Profit for the year, non-life 104 82 27% Profit for the year, other -63 -75 -16% Profit for the year 1 317 255 24% Operating expenses Life and Non-life -541 -572 -5% operating expenses other -131 -80 64% Cost-premium ratio life and non-life 12.7% 13.3% -5% liabilities arising from insurance contracts, life 29,305 28,174 4% liabilities arising from insurance contracts, non-life 3,535 3,535 - Total liabilities arising from insurance contracts 32,840 31,709 4% Total equity (including revaluation of property) 2 3,493 2,975 17% Total assets 40,616 39,249 3% 1 Profit for the year attributable to holders of equity instruments.