Our reporting segments

NN Group is a financial services company with a leading position in the Netherlands and a strong presence in a number of European markets and Japan.

With about 15,000 employees, we aim to deliver high-quality products and services to retail, SME, large corporate and institutional customers. Our business activities are structured in seven reporting segments: Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Asset Management, Other, and Japan Closed Block VA.

Netherlands Life

Netherlands Life has a strong position in the Dutch pension market and offers a range of group life and individual life insurance products. It is NN Group’s largest business and primarily consists of Nationale-Nederlanden Life, Delta Lloyd Life, AZL, the life results of ABN AMRO Insurance, and BeFrank. Netherlands Life is organised by pension products and the individual life closed block. The pension product line provides group life and pension products to small and medium-sized enterprises (SME) and to large corporate clients and their employees. The individual life closed block primarily consists of individual life portfolios comprising a range of discontinued products sold prior to 2012.

Netherlands Non-life

Netherlands Non-life offers a broad range of non-life insurance products – including motor, fire, liability, transport, travel, and disability and accident insurance – to retail, self-employed, SME and corporate customers. The segment comprises Nationale-Nederlanden Non-life, Delta Lloyd Non-life, the non-life results of ABN AMRO Insurance, Movir, OHRA, and the broker results related to health insurance products.

Insurance Europe

Insurance Europe primarily offers life insurance and pension products to retail, self-employed and SME customers. In Belgium and Spain we also offer non-life insurance products and health insurance in Greece. The countries in which Insurance Europe is active are a mixture of mature and growth markets. Our main brands are NN, Nationale-Nederlanden (in Spain and Poland) and Delta Lloyd Life (in Belgium).

Japan Life

Japan Life offers a range of corporate-owned life insurance (COLI) products to owners and employees of SMEs in Japan through independent agents and banks. Japan Life is a leading provider of COLI solutions with more than 5,000 registered independent agents and 69 financial institution partners (banks and securities houses) supported by sales support offices located in 28 cities throughout Japan.

Asset Management

NN Investment Partners and Delta Lloyd Asset Management are the asset management businesses of NN Group. They manage the assets of the group’s insurance businesses and offer retail and institutional customers a wide variety of actively managed investment products. They also provide advisory services in all major asset classes and investment styles.

NN Investment Partners offers products and services globally through offices across Europe, the United States and Asia, with the Netherlands as its main investment hub.


The segment ‘Other’ comprises the businesses of Nationale-Nederlanden Bank, Delta Lloyd Bank, NN Re, the results of NN Group’s holding company, Delta Lloyd holding entities, and other results. The result of the holding includes the interest paid on hybrids and debt, interest received on loans provided to subsidiaries and on cash and liquid assets held at the holding company and the head office expenses that are not allocated to the business segments.

Japan Closed Block VA

Japan Closed Block VA comprises the Group’s closed-block single premium variable annuity (SPVA) individual life insurance portfolio in Japan. This portfolio consists of SPVA products with minimum guarantee obligations sold predominantly from 2001 to 2009. In 2009, NN Life Japan ceased the sale of these products and placed this portfolio in run-off. NN Life Japan is responsible for managing the policies and for the relationships with customers, distribution partners and the Japanese regulatory authority. The minimum guarantee obligations are reinsured by NN Re. Approximately 90% of the portfolio is projected to run off by the end of 2019 due to the short-term maturity profile of the SPVA products.