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
Read the full Press release
Lard Friese and Delfin Rueda will host an analyst and investor conference call to discuss the 2Q18 results at 10.30 am CET on Thursday 16 August 2018. Members of the investment community can join the conference call at +31 20 531 5865 (NL), +44 203 365 3210 (UK), +1 866 349 6093 (US) or follow the webcast on www.nn-group.com.
Lard Friese and Delfin Rueda will host a press call to discuss the 2Q18 results, which will be held at 07.45 am CET on Thursday 16 August 2018. Journalists can join the press call at +31 20 531 5863 (NL).