Foreword

Foreword
The cover of this annual report features a work of art by Joana Schneider that can be admired at our recently renovated DELA Maaslanden crematorium in Nieuwkuijk. The work is made of recycled rope from the fishing industry, a material with a long history that, through bundling, knotting, and coiling, is given new form and relevance.
That idea resonates with DELA Natura. For nearly 90 years now, we have continued to change and adapt in the knowledge that we play an important role in society by making a thoughtful, dignified, and colourful funeral financially possible for everyone. Because we want to stand strong as a modern organisation that is relevant to its policyholders in 90 years from now as well. Just like the recycled rope that retains its essence but in a new form, we continue to reshape the future on the basis of our trusted values.
Review
The past five years were devoted to strengthening and developing our organisation. We consolidated our position through the integration of Yarden. We continued to grow internationally as well, which increased our scale of operations and enabled us to reach more people.
This course was maintained in 2025. We closed another strong financial year and passed the one million mark for the number of people we insure in Belgium. In total, we now insure 5.6 million people. Customer satisfaction remains high, and our reputation strong, which underlines the trust in our organisation.
Challenges of today and tomorrow
The market is changing at a rapid pace. In all the countries where we operate, we see changing customer needs and societal trends that place demands on our products and services: more personalisation, greater transparency, and affordability. These changes have an impact on our costs, our scale, and our employees.
We saw a decrease in employee satisfaction last year. Nevertheless, we can still compete with the top of the labour market, and we continue to invest in a healthy, safe, inclusive, and pleasant working environment where colleagues feel seen, heard, and supported. Only then can they remain relevant to policyholders and our suppliers
Continuous development
We are aware the people see funeral insurance as more than just a product. It is a promise to their loved ones that everything is all set for the future. That is why we continue to improve our insurance solutions with accessible products that are tailored to different stages of life and changing circumstances – with affordability remaining a key driver.
New strategic course
In 2025, we rounded off an important phase: the development of our new strategic course. While we at DELA Natura continue to provide funeral insurance as our basis, we are strengthening our services to address the well-being of our customers. We are also fast-tracking innovation so that our services better meet the needs of today and tomorrow. And we are taking extra steps to support customers in their well-being in the period before, during, and after a loved one dies.
Just like the work of art on the cover, we continue to adapt to a changing world by building on a strong core. We as an organisation have long-term obligations, and we want people to be able to count on us in 90 years from now as well. That calls for developing and moving in the same direction together – so that we at DELA stay relevant to everyone who trusts in us.
Eindhoven, 22 April 2026
The Management Board
Sandra Schellekens
Godelieve van Velsen
This is an English translation of the original Dutch text. In case of any conflict between this translation and the original text, the latter will prevail.
Key figures

Key figures
Financial
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Premium income | |||||
| x €1,000. After deduction of reinsurance premium | |||||
| Funeral insurance, Netherlands | 439,802 | 418,456 | 392,764 | 382,553 | 324,638 |
| Leefdoorplan, Netherlands (life insurance) | 28,541 | 29,299 | 29,683 | 30,052 | 30,309 |
| Spaarplan, Netherlands (savings-linked insurance) | 42,115 | 44,393 | 58,303 | 75,004 | 79,571 |
| Total Netherlands | 510,458 | 492,148 | 480,749 | 487,609 | 434,518 |
| Belgium | 181,501 | 173,130 | 161,889 | 146,089 | 136,258 |
| Germany | 82,545 | 78,663 | 70,063 | 35,313 | 21,696 |
| Total | 774,505 | 743,941 | 712,701 | 669,011 | 592,472 |
| Insured capital | |||||
| x €1 million | |||||
| Insured capital | 83,510 | 79,773 | 78,605 | 72,970 | 68,678 |
| Distribution of investment income | |||||
| x €1,000 | |||||
| Net investment result | 554,629 | 579,703 | 365,104 | -779,028 | 644,989 |
| Less: for future insurance claims* | -220,581 | -204,959 | -189,851 | -178,841 | -160,094 |
| Remaining for financial position** | 334,048 | 374,744 | 175,253 | -957,869 | 484,895 |
| Profit share | |||||
| x €1,000 | |||||
| Profit share | 264,798 | 281,247 | 249,224 | 43,654 | 5,940 |
| Balance sheet | |||||
| x €1 million | |||||
| Total assets** | 10,652 | 10,131 | 9,362 | 8,797 | 9,490 |
| Value of investments | 10,325 | 9,802 | 9,053 | 8,483 | 9,265 |
| Technical provision** | 9,154 | 8,580 | 8,021 | 7,532 | 7,172 |
| Equity** | 1,158 | 1,088 | 915 | 921 | 1,683 |
| ... as percentage of technical provision | 13% | 13% | 11% | 12% | 23% |
| Coverage ratio | |||||
| Average coverage ratio*** | 198% | 217% | 251% | 195% | 129% |
| Solvency | |||||
| Solvency II ratio | 213% | 201% | 207% | 221% | 244% |
Non-financial
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Reputation* | |||||
| StakeholderWatch pulse | |||||
| Netherlands | 74 | 74 | 72 | 66 | 63 |
| Belgium | 71 | 67 | 63 | - | - |
| Group | 73 | 71 | 68 | 66 | 63 |
| Customer satisfaction, insurance | |||||
| NPS | |||||
| Netherlands | 44 | 47 | 44 | 46 | 51 |
| Belgium | 64 | 61 | 59 | 60 | 58 |
| Germany | 57 | 49 | 53 | 51 | 49 |
| Group | 60 | 58 | 56 | 57 | 56 |
| Customer satisfaction, customer service | |||||
| NPS | |||||
| Netherlands | 43 | 46 | 43 | 45 | 39 |
| Belgium | 66 | 63 | 60 | 59 | 68 |
| Group | 51 | 50 | 49 | 50 | 57 |
| Insured persons | |||||
| Number at year-end | |||||
| Netherlands | 4,261,896 | 4,277,150 | 4,296,572 | 4,295,361 | 4,287,483 |
| Belgium | 1,003,296 | 977,541 | 947,996 | 928,029 | 908,822 |
| Germany | 341,202 | 321,551 | 294,373 | 266,072 | 103,786 |
| Total | 5,606,394 | 5,576,242 | 5,538,941 | 5,489,462 | 5,300,091 |
| Employee satisfaction | |||||
| eNPS | |||||
| Netherlands | 30 | 44 | 36 | 44 | 51 |
| Belgium | 54 | 54 | 57 | 53 | 54 |
| Germany | 10 | 10 | 8 | - | - |
| Total | 31 | 43 | 38 | 45 | 52 |
| Employees | |||||
| FTEs, year-end | |||||
| Netherlands | 533 | 513 | 487 | 480 | 406 |
| Belgium | 94 | 103 | 92 | 94 | 95 |
| Germany | 55 | 54 | 45 | 38 | 28 |
| Total | 682 | 670 | 623 | 612 | 529 |