Rabobank: a business bank
A bank that values its customers, Rabobank works in dialogue with businesses to achieve
sustainable economic development. We set great store by being predictable and consistent,
particularly in these economically turbulent times for customers. An example worth mentioning
is the EHEC crisis that broke out in Germany in early June 2011 and that caused a serious blow
to the Dutch greenhouse horticulture sector. Shortly after the crisis had begun, Rabobank
presented a broad package of measures in aid of the affected horticulture businesses, and offer
confidence and assurance immediately. Involving losses to the tune of some hundreds of
millions of euros, not counting losses suffered by other partners in the chain and a number of
business shutdowns, the ultimate impact on the sector was dramatic. It will take some years
before the sector has recovered completely from this financial strain. Our focus on serving our
customers' interests is illustrated by our actions during the EHEC crisis as well as by the fact
that our Special Accounts department usually manages to revitalise affected businesses.
Preparations for Floriade horticultural expo
The preparations for the Floriade World Horticultural Expo were kicked off in 2011. The exhibition
will be held in the Venlo area in the Netherlands from 5 April to 7 October 2012. The central
themes of the exhibition are perfectly in keeping with Rabobank's ambition to become
the leading global food and agri bank. What is more, Floriade is an excellent platform for
sustainability, innovation and knowledge transfer and it is meant to give a boost to the local
economy, particularly to the GreenPark Venlo horticultural park. The Floriade grounds will be
added to GreenPark Venlo after 2012, when it will be sustainably developed. As a founder of
Floriade, Rabobank is greatly involved in developing this world expo, as well as in many other,
often self-developed, activities. We started the build of Rabo Earth Walk, our own pavilion, in
2011; we expect it to be one of the prominent pavilions of Floriade, which will attract an
estimated 2 million visitors or more.
Insurance
Increase in insurance policies sold by Interpolis
Interpolis, a division of Achmea, has a leading position in the Dutch insurance market. The local
Rabobanks are the only intermediaries to offer Interpolis insurance. Landing at 1,320,000
(1,321,000), the number of Alles in één Polis insurance policies was more or less stable in 2011.
58% of customers have taken out three or more types of cover under this policy. At the local
Rabobanks, about 19% of private individuals have taken out Alles in één Polis policies and
about 28% of corporate clients have Bedrijven Compact Polis policies or ZekerVanJeZaak Polis
policies. The popularity of the Bedrijven Compact Polis policy dropped in favour of the
ZekerVanJeZaak Polis policy, which was developed in 2008 for businesses with revenues below
EUR 1 million. The number of ZekerVanJeZaak Polis policies sold rose to 44,000 (31,000) in
2011Interpolis offers health insurance under the Interpolis ZorgActief label, which is one of
the fastest-growing health insurance policies in the Netherlands, rising by 11% to reach
199,000 (179,000) in 2011Insurance commission at the local Rabobanks was down 6% to
EUR 308 (328) million. Commission income from non-life insurance stood at EUR 308 (316)
million. Commissions from life insurance were reduced to EUR 0 (12) million as a result of
commission losses due to the surrender of commissions received in advance.
Transparency of insurance commissions
Interpolis pays Rabobank, which sells its insurance policies, a fee for services. We have been
open and honest about the level of this fee for Alles in één Polis policies since 1 November
2011From now on, the policies show what part of the premiums is paid to the local Rabobank
as a fee. By doing so, Rabobank and Interpolis go a step further than the government proposal,
which tells banks to disclose the amount of the fee only to customers who ask for disclosure.
In the process of providing transparency, Interpolis and Rabobank have also changed the way
the fee is calculated. Instead of using a percentage of the premium, they work with fixed fees
related to the efforts that Rabobank puts in to serve the customer. We check periodically
whether the customer's insurance policies still suit their situation.
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Strategic Framework Broad range of services in the Netherlands
