The DELA cooperative is still planning to take over the Yarden Funeral Organization. This concerns the insurer, the funeral company and all underlying organizations and participations. On May 5, the directors of Yarden and DELA signed the acquisition agreement. Yarden policyholders can count on financial stability and there is room for more inflation protection for members. Thanks to this takeover, the DELA cooperative will acquire a large number of funeral homes and crematoriums that are complementary to those of DELA. DELA and Yarden share a similar history, are both member organizations and were both founded to make a worthy funeral possible.

“We can help Yarden thanks to our financial buffers. I am proud that our philosophy of solidarity, 'Bears Elkanders Lasten' is alive and well. The idea behind this takeover is that a strong collective helps a weakened collective, so that an even stronger collective is created. ”

Acquisition still possible

DELA and Yarden were again able to discuss a takeover after Kifid and the Court of Appeal ruled that Yarden could unilaterally change the policy conditions of the package policies in the interest of its financial recovery. Of great importance to OF THE was also the decision of the Consumers' Association to stop its preparations for a substantive procedure against Yarden's recovery plan

“We are confident that Yarden's recovery will remain in effect. This reduces the claim risk and makes a takeover possible. We are pleased that the Consumers' Association realizes that continuing the legal procedure in the event of a bankruptcy of Yarden would turn out badly for all more than one million Yarden policyholders and was willing to help think about the best possible service to the 390.000 nature policy holders. ”

No additional payment for package coverage for the first 10 years

In order to independently recover financially, Yarden maximized the value of 2019 in-kind policies in the summer of 390.000. This meant that from that moment on, the Yarden members had to pay extra for the increased costs of the funeral. As stated in the initial acquisition plan, DELA now guarantees that in the event of death in the next ten years, survivors will not have to pay anything extra with regard to package coverage if they use their own funeral company. DELA has also decided to make an extra EUR 1 million available for compassionate cases.

Stronger collective positive for everyone

The DELA cooperative has no profit motive, it must protect the interests of its members in the short and long term. Due to a larger and stronger collective, there will also be more room for profit sharing and inflation protection for DELA members in the long term. DELA makes additional capital available to protect Yarden policyholders against inflation, but on the other hand, DELA will become stronger through the combination of activities.

DELA is taking the time to integrate

If the regulators approve the proposed acquisition, Yarden will be officially part of DELA in the short term. DELA takes ample time for the merger and integration. DELA aims to be ready by 2023 at the latest. DELA strives to limit the consequences for personnel as much as possible.

“The acquisition will require a capital injection in the short term, but this will only have a limited impact on our equity and solvency. Nor does it lead to additional premium increases. The fact that the collective is growing is positive for everyone. By merging the two funeral companies, we will soon be offering our members better national coverage of our own funeral homes and crematoria. The capital injection will make the Yarden portfolio profitable again, and synergies will also increase solvency over time, as will the scope for profit sharing. Both the DELA members and the Yarden members benefit from this. ”

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