NN Group

Showing posts with label NN Group. Show all posts
Showing posts with label NN Group. Show all posts

Monday, 12 August 2019

David Knibbe to succeed Lard Friese as CEO of NN Group


David Knibbe

EGM to be held on 26 September 2019

NN Group announces that its Supervisory Board intends to appoint David Knibbe as CEO of the company. David Knibbe, currently CEO of NN Netherlands, succeeds Lard Friese who has stepped down as member and chair of the Executive Board and CEO of NN Group as of today, 12 August 2019, to join Aegon. The appointment of David Knibbe is subject to approval from the Dutch Central Bank. If approved, the appointment will be effective 1 October 2019, after notification to the General Meeting of NN Group at an extraordinary general meeting (EGM) to be held on 26 September 2019.
David Cole, chair of the Supervisory Board of NN Group: ‘Lard joined the company in 2008 as CEO of Nationale-Nederlanden in the Netherlands and joined ING’s Management Board Insurance in 2011 with responsibility for its European and Asian Insurance businesses. Lard was appointed as NN Group’s CEO in 2014. Over the years, he has done an outstanding job, leading the company through the separation from ING Group, the IPO process of NN Group, and the acquisition of Delta Lloyd and the announced acquisition of VIVAT Non-life. His drive and focus on performance, combined with his commitment to serving the long-term interests of the company, were important in shaping NN Group as the strong international player it is today. I would like to thank Lard personally, and on behalf of the Supervisory Board, the Management Board and the employees of NN Group, for his contribution to the company. We have a sound succession planning process in place and with the intended appointment of David Knibbe we have found an excellent successor from within the company. David has the right leadership skills to drive NN Group going forward. Having worked in a variety of senior management roles, David has a deep understanding and experience of our businesses, the sector, and the markets in which NN operates. He successfully led the integration of Delta Lloyd and is a dynamic, customer-focused and values-driven business leader, whose vision and execution track record will contribute to the future of NN Group.’
Lard Friese: ‘It has been a privilege to serve NN Group, and I am proud of what we together have achieved for the company, colleagues and customers. I am grateful for all the support I have received from the Supervisory Board and Management Board, from the nearly 15,000 colleagues, and from the company’s stakeholders. I congratulate David on his intended appointment. Having worked closely with him for many years, I am confident that under his leadership NN Group will continue to prosper and I wish him every success.’
David Knibbe has extensive experience in financial services and a proven track record in executive positions. David joined the asset management business of ING Group in 1997, and was later responsible for the ING International Insurance businesses. He was appointed as a member of the Management Board of NN Group and CEO of NN Netherlands in 2014. In recent years, David has played a pivotal role in the acquisition of Delta Lloyd and the announced acquisition of VIVAT Non-Life, and led the integration of the Delta Lloyd businesses into NN.
David Knibbe: ‘It is an honour to be offered the opportunity to be NN Group’s next CEO. NN is a strong international company, driven by talented people who are focused on serving our customers and creating long-term value for our stakeholders. I am fully committed to building, together with all our colleagues, on the solid foundation established under Lard’s leadership. We will continue to improve performance, by offering excellent products and services to our customers, by accelerating the transformation of our business model, and by allocating capital rationally. I would like to extend my gratitude to Lard, and wish him success in the future.’
The EGM of NN Group will be held on 26 September 2019, 10:00 CET, at the company’s head office in The Hague, the Netherlands. The meeting documents are available on the NN Group website (www.nn-group.com/egm). The agenda comprises a single agenda item, the notice of the intended appointment of David Knibbe as member of the Executive Board of NN Group. According to Dutch law and the articles of association of NN Group, it is not a voting item.
The Central Works Council of NN Group will be asked for advice on the intended appointment of David Knibbe. The succession process for the position of CEO Netherlands has started and further announcements will follow in due course.

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/