Shareholders oppose Delta Lloyd's $1.1 billion rights issueReprints
Dutch insurer Delta Lloyd N.V.'s shareholders are opposing its planned €1 billion ($1.1 billion) rights issue which it needs to meet regulatory capital requirements, reported Reuters.
Investors who own approximately 32% of the insurer's shares are planning to oppose the rights issue at a vote on March 16. Delta Lloyd said that it needs the money to meet regulatory capital requirements under Solvency II. Analysts have estimated that Delta Lloyd needs to inject a minimum of €500 million to its capital and surplus to be in compliance.