When reporting its annual figures for 2022, ICMIF member Onderlinge ´s-Gravenhage (Netherlands) reported that total premium income for the insurer had increased by 3% from EUR 114 million to EUR 117 million. This produced a profit after tax of EUR 14 million (2021: EUR 31 million which has led to OG making EUR 5 million available for profit sharing. Solvency for the mutual insurer increased by 29% from 188% to 217%.
Onderlinge ´s-Gravenhage had launched the Onderlinge Annuity in 2021 to meet a growing demand to extend the maturity of annuities. Since 2022, (digital) access for advisers and members has been optimised and non-members can also now take out a Direct Deposit Annuity with the mutual insurer. These adjustments have led to growing sales of almost EUR 38 million in both products which has strengthened Onderlinge ´s-Gravenhage’s position as a life insurer.
Furthermore, Onderlinge ´s-Gravenhage says, sharply rising inflation is causing a decline purchasing power. Many customers have their money invested in their homes and this money is therefore not disposable. The ZilverHuis (Silver House) mortgage from the mutual offers a solution. The possibility of having the mortgage amount as a periodic payment makes the product interesting for a larger target group of customers. In combination with increased awareness about Onderlinge ´s-Gravenhage in the market, mortgage production also increased significantly for the mutual.
Onderlinge ´s-Gravenhage’s products and services are for people in their second stage of life and also serve a social interest with the aim of facilitating “happy aging”. One of the services offered is the Woonz.nl platform which offers senior people information and relevant solutions to enable them to live in their own homes for longer. Through Woonz.nl, Onderlinge ´s-Gravenhage stays in easy contact with its main target group and can thus improve its product development and services.
Seada van den Herik, Managing Director, Onderlinge ´s-Gravenhage: “Changes in society bring challenges. As an organisation, we have mission to support the elderly in this in terms of living, working and well-being. This we do this together, by listening to our members, working with partners who share our vision and by being valuable to Onderlinge ´s-Gravenhage as colleagues.”
Onderlinge ‘s-Gravenhage
Onderlinge ‘s-Gravenhage, founded in 1895, is a mutual life insurer and mortgage lender offering guarantee products to over 230,000 members. It operates for and with people in the second stage of life with products and services in the areas of living work and income. And it does so on the basis of its core values: together, secure and committed.
