Insurance
Corporate pensions
Limited growth in lending
Loan portfolio by sector
Rabo Green Bank
Rabo Green Bank reopened its doors on 1 October. Because the Dutch government had cut
some of the tax credit for green investments in 2010, Rabo Green Bank was forced to cease its
financing activities and no more green loans were offered after October 2010. Rabobank
wants to promote access to affordable green finance for innovative green projects and, after
the tax credit was repaired, again started to provide new green loans. Green finance can be
used for investments that clearly benefit the environment or nature and that have been
awarded a government-issued green certificate. Nearly 70,000 deposit holders and investors
use Rabo Green Bank to invest in 1,800 government-certified green projects.
Rabobank established an Institution for Occupational Retirement Provision (IORP) in
collaboration with PGGM, a leading Dutch pension administrator. In partnership with PGGM, the
IORP will offer a group pension plan to Rabobank customers by the name of Rabo Bedrijven-
Pensioen. The plan is designed specifically for employers that do not provide a pension to their
employees through a sector-wide, occupational or corporate pension fund.The IORP invests the
pension contributions in funds that responsibly scale down investment risks as the pensionable
date draws nearer. With effect from 2013, most of the local Rabobanks will channel their
pension advisory services through the pension specialists of Rabo BedrijvenPensioen.
Insurance at local level: Interpolis
Rabobank is the largest insurance broker in the Netherlands. Insurance commissions at the
local Rabobanks amounted to EUR 312 (308) million. Income from non-life insurance fell to
EUR 296 (308) million and income from life insurance rose to EUR 16 (0) million. Rabobank
has a 29% equity interest in Achmea, the largest insurance group in the Netherlands.
Over 80% of all insurance policies for which Rabobank acts as a broker are offered by
Interpolis, an Achmea division.
Rabobank offers the Interpolis Alles in één Polis (All in one policy) to private individuals who
are looking fora comprehensive insurance package. Rabobank advisers can provide private
customers with broad advice on all matters financial, including insurance. The number of Alles
in één Polis policies dropped to 1,313,000 (1,320,000) in 2012. 57% (58%) of policyholders
have taken out three or more types of cover under this policy. At the local Rabobanks, about
19% of private customers hold an Alles in één Polis policy. Interpolis also offers health
insurance under the Interpolis ZorgActief label, which is one of the fastest-growing health
insurance policies in the Netherlands. The number of ZorgActief Polis policies sold via
Rabobank increased by 13% to reach 225,000 (199,000) in 2012.
Rabobank also works in close collaboration with Interpolis when it comes to business
insurance. Corporate clients can choose from such non-life policies as the ZekerVanJeZaak
Polis policy or the Bedrijven Compact Polis policy. Approximately 28% of corporate clients
have taken out Bedrijven Compact Polis or ZekerVanJeZaak Polis policies, which makes
insurance an integral part of Rabobank's service offering. The number of ZekerVanJeZaak Polis
policies sold rose further to reach 55,000 (44,000) in 2012. Interpolis ZekerVanJeZaak Polis
policy holders are required to check, update and confirm a number of insurance-related
details annually so that they are guaranteed not to be underinsured. This process is supported
by a new online banking functionality.
The Dutch economy showed more or less zero growth in 2012.
Exports were being weighed down because of government
budget cuts in neighbouring countries. The lack of consumer and
business confidence due to uncertainty about the European debt
crisis caused investments and spending to be put on hold. These
developments affected lending in the domestic retail banking
division. Although the local Rabobanks issued fewer loans to
private individuals as well as to businesses than in 2011, lending
grew nevertheless thanks, in part, to the consolidation of Friesland
Bank. Private sector lending at domestic retail banking increased
by 4% in 2012, rising to EUR 306.5 (295.8) billion. Of loans, 69%
were issued to private individuals, 21% to theTIS sector, and 10%
to the food and agri sector. Loans to private individuals, which are
in billions of euros
350
250
200
150
100
50
0
2008
2009
2010
2011
2012
Food and agri
TIS
Private individuals
40 Annual Report 2012 Rabobank Group
