TURBULENT MARKETS LEAD TO NEGATIVE FULL YEAR RESULTS
MEASURES IN PLACE TO REDUCE COSTS AND IMPROVE BALANCE SHEET
SOLVENCY AT 175% AFTER CAPITAL INCREASE 2009 (PRO FORMA)
Negative net result at €2.1 billion compared to a net profit of €979 million in 2007, due mainly to losses on investment portfolio and associated companies
Total contributions insurance and investment contracts at €19.6 billion (2007: €15.6 billion)
Value of new business (life insurance) at €41 million (2007: €67 million)
Total equity down 28% to €7.5 billion
De-risking balance sheet ongoing, cost efficiency programmes initiated
Proposal to not pay dividend on ordinary shares, proposal to pay dividend on preference shares; coupons to be paid on perpetuals due in May and June
More details can be
found on Eureko's website: www.eureko.net |