Funeral insurance company Dela will not take over Yarden after all | Money

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Dela announced this on Tuesday. A spokesperson for Yarden said the company regrets Dela’s decision and plans to take further steps.

Undressing policy

Yarden wanted to improve its own weak financial position by stripping the care policy of 390,000 customers. Instead of a fully arranged funeral or cremation, they would now receive a maximum compensation.

However, the judge put a stop to this in September. This is not yet a final decision, but it was already the death knell for the takeover by Dela. The Consumers’ Association, among others, objected to the undressing of the policies.

Don’t wait

It may take years before there is legal certainty. Dela, which arranges the funeral for about 4 million insured persons, did not want to wait. This means uncertainty for the approximately 1.4 million policyholders at Yarden.

“Dela and Yarden share a similar history, are both member organizations and are both founded to make a worthy funeral possible. In practice, we already work a lot together and make use of each other’s facilities, ”says Edzo Doeve, general manager of the Dela cooperative.

Certainty

Doeve: „Yarden is in dire straits financially and was looking for a suitable, strong party that could take over its activities. Cooperative Dela is such a strong party and we believed we could help. It was important to us that Yarden would independently continue to recover financially. ”

Insurer Yarden was in dire straits due to the persistently low interest rates and the financial obligations towards the 390,000 holders of package policies.

Very sorry

“It is very unfortunate that the takeover cannot go ahead now,” says Doeve. “As a non-profit cooperative, we must put the interests of our members first. And that is exactly what we are doing now, because the uncertainty at Yarden is not in the interest of our members. ”





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