February 23, 2017 / 6:42 AM / 6 months ago

Delta Lloyd reports solvency ratio at lower end of its expectations

Feb 23 (Reuters) - Delta Lloyd, the fourth largest Dutch insurer which agreed to be bought by larger peer NN Group , on Thursday reported solvency ratio at the lower end of its own target range.

Delta Lloyd reported capital strength under Europe's new solvency II rules of 143 percent at the end of 2016, down from 156 percent at the end of September.

Delta Lloyd had earlier said it expected to finish the year near the top of its expected solvency range of 140-180 percent.

The company reported a net profit of 231 million euros, up 80.5 percent compared to last year.

Delta Lloyd also said it suspended final cash dividend for 2016, citing the NN Group offer. (Reporting by Wout Vergauwen; Editing by Thyagaraju Adinarayan)

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