The joint venture was to offer financial services and products to employers and employees in the Health Care and Welfare sector under the label of Careon.
In good consultation Delta Lloyd and PGGM reached this joint conclusion. PGGM and Delta Lloyd agree that their strategies which were the basis for the intended joint venture are sound. However, on account of studies into the commercial feasibility of the joint venture the contracting parties have concluded that there are insufficient grounds to realise a profitable business within a reasonable period.
The transfer of a majority interest in the principal insurance activities of PGGM to Delta Lloyd NV, will not be effected.