NN Group reports 2Q18 results

Friday, 24 August 2018

NN Group reports 2Q18 results

Solid operating performance, Solvency II ratio at 226%

  • Operating result ongoing business EUR 508 million, up 25.6% from 2Q17, reflecting an improved underwriting performance at Netherlands Non-life, private equity dividends at Netherlands Life and lower expenses
  • Net result EUR 463 million, up 92.7% from 2Q17, reflecting the higher operating result and higher capital gains, while 2Q17 included a provision related to ING Australia Holdings
  • Further cost reductions of EUR 62 million in 2Q18, bringing total cost reductions achieved to date to EUR 236 million
  • Total new sales (APE) of EUR 357 million, down 7.5% from 2Q17 at constant currencies. VNB for 6M18 up 20.2% to EUR 205 million, driven by Japan Life and Insurance Europe
  • Solvency II ratio of 226% up from 213% at the end of 1Q18, reflecting operating capital generation, positive market impacts and the deduction of the 2018 interim dividend
  • Holding company cash capital was EUR 1,799 million, including EUR 536 million dividends received from subsidiaries
  • 2018 Interim dividend of EUR 0.66 per ordinary share or approximately EUR 222 million
  • https://www.nn-group.com/

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