NN Group: Latest Financials Looking Good

Here are the highlights from the NN Group financials, just published;

On track to deliver on financial targets

• Operating capital generation increased to EUR 780 million from EUR 543 million in the first half of 2020, mainly reflecting strong business performance at all segments
• Operating result increased to EUR 1,119 million from EUR 926 million in the first half of 2020, with almost all segments reporting higher results
• Net result of EUR 1,414 million compared with EUR 587 million in the first half of 2020

Continued commercial momentum; sustained high employee engagement; improved ESG-integrated AuM

• Value of new business of EUR 242 million, up 98% on the first half of 2020, mainly driven by improved sales at Japan Life and Insurance Europe
• NN Bank originated EUR 4.4 billion of new mortgages in the first six months; Net third-party inflows at NN IP of almost EUR 4 billion
• Assets under Management DC business increased to EUR 27.4 billion from EUR 24.6 billion at 31 December 2020
• Implementing initiatives to enhance customer satisfaction, with 3 of our insurance businesses scoring an above market average Net Promotor Score
• Employee engagement remains high with an overall score of 7.8, progressing with hybrid way of working
• ESG-integrated Assets under Management up at 75%; continued progress implementing net-zero ambition
  

Solid balance sheet; delivering on our commitment to attractive capital returns to shareholders

• NN Group Solvency II ratio of 209% versus 210% at 31 December 2020, mainly reflecting capital flows to shareholders and a reduction of the UFR, partly offset by operating capital generation and market variance
• Cash capital position at the holding increased to EUR 1,533 million in the first half 2021, mainly reflecting remittances from subsidiaries, partly offset by capital flows to shareholders
  2021 interim dividend of EUR 0.93 per ordinary share1) or approximately EUR 287 million