Insurance
The local Rabobanks sell non-life, health and life insurance policies, most of which are
supplied by Interpolis. Thanks in part to the constructive collaboration with Eureko,
the number of Alles in één, Bedrijven Compact and ZorgActief insurance policies
sold increased further. Total insurance commission earned fell by 6% to EUR 354
million as fewer life insurance policies were sold. Non-life insurance commission was
up 5%, to EUR 314 million. 2008 saw the launch of the new'Glashelder'advertising
campaign with'Helder Moment'as the motto, through which Rabobank and Interpolis
aim to make clients consider more carefully the things they should and should not
insure. The new insurance solutions 'InterpolisZekerVanJeZaak' for small businesses
enjoyed a successful launch. Early in 2009, Rabobank contributed EUR 400 million
to the strengthening of Eureko's capital, thus bringing Eureko back to its desired
solvency level.
Strategy
www.rabobank.nl,www.interpolis.nl,www.eureko.net
Number of non-life and health insurance policies up;
fewer life insurance policies sold
Sales of Alles in één Polis insurance policies up 2% to 1,297,000
Sales of Bedrijven Compact Polis insurance policies up 5% to 195,000
Sales of ZorgActief Polis health insurance policies up 24% to 150,000
Total insurance commission earned by local Rabobanks down 6%,
at EUR 354 million
Strategy of Rabobank Group
Contribution to Group strategy
All-finance market leadership in the Netherlands
- To strengthen our market leadership by offering non-life, health and life
insurance policies from Interpolis through local Rabobanks
Global food agri bank
- To maintain insurance market leadership in the Dutch food agri sector
through market leader Interpolis
- To align Eureko's international expansion with existing Rabobank operations
Providing insurance is an important element in Rabobank Group's all-finance strategy in the Netherlands.
That ambition is underpinned by Rabobank's 39% interest in the Eureko insurance company. In the
Netherlands, Eureko has leading positions in all insurance market sections. The strategy for the virtually
saturated Dutch market is to achieve growth by offering new and innovative, demand-driven products
and services. Eureko operates several distribution channels and labels, with Interpolis specifically
positioned for the banking channel. The local Rabobanks sell mostly Interpolis-branded non-life, health
53
Report of the Executive Board
Breakdown of insurance
commission in 2008
in
Life 11%
Non-life 89%
