14 Dec 2015 - 07:45 CET

ING nominees step down from Supervisory Board NN Group

NN Group announces that ING nominees Patrick Flynn and Wilfred Nagel will step down from the Supervisory Board of NN Group, effective today. The resignation of Patrick Flynn and Wilfred Nagel marks a next step in NN Group's journey of becoming a stand-alone company. ING nominee Ralph Hamers stepped down from the Supervisory Board of NN Group on 6 October 2015. As a consequence, ING Group no longer has nominees in the Supervisory Board of NN Group.

Jan Holsboer, Chairman of the Supervisory Board of NN Group: "I would like to thank Patrick Flynn and Wilfred Nagel for their valuable contribution as members of the Supervisory Board during the transition phase of NN Group becoming an independent company".

As announced on 6 October 2015, the Extraordinary General Meeting of NN Group has appointed Hélène Vletter-van Dort, Dick Harryvan and Robert Jenkins as new members of NN Group’s Supervisory Board. The appointment of Hélène Vletter-van Dort became effective on 6 October 2015. The appointments of Dick Harryvan and Robert Jenkins will become effective when ING Group's shareholding in NN Group drops below 15%. Until such time Dick Harryvan and Robert Jenkins will participate in the Supervisory Board of NN Group as observers.

ING Group has previously announced that it intends to divest its remaining shareholding in NN Group over time in line with its strategy to divest all of its insurance and investment management businesses as part of the restructuring agreement with the European Commission, ultimately by the end of 2016. ING Group’s current stake in NN Group is 25.8% of outstanding shares (net of treasury shares).

  • NN Group profile

    NN Group is an international insurance and asset management company, active in more than  18 countries, with a strong presence in a number of European countries and Japan. With around 11,500 employees the group offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group includes Nationale-Nederlanden, NN and NN Investment Partners. NN Group is listed on Euronext Amsterdam (NN).
  • Important legal information

    All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group’s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro, (4) the implementation of the EC Restructuring Plan, (5) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (6) the frequency and severity of insured loss events, (7) changes affecting mortality and morbidity levels and trends, (8) changes affecting persistency levels, (9) changes affecting interest rate levels, (10) changes affecting currency exchange rates, (11) changes in investor, customer and policyholder behaviour, (12) changes in general competitive factors, (13) changes in laws and regulations, (14) changes in the policies of governments and/or regulatory authorities, (15) conclusions with regard to accounting assumptions and methodologies, (16) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (17) changes in credit and financial strength ratings, (18) NN Group’s ability to achieve projected operational synergies and (19) the other risks and uncertainties contained in recent public disclosures made by NN Group and/or related to NN Group.

    Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction. The securities of NN Group have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

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