NN Group reports 2Q19 results
- Operating result of EUR 445 million versus EUR 508 million in 2Q18, reflecting lower private equity dividends at Netherlands Life and lower results of the reinsurance business, partly offset by improved results at Insurance Europe, Netherlands Non-life and Japan Life
- Net result of EUR 606 million, up from EUR 463 million in 2Q18
- Total cost reductions achieved to date of EUR 306 million versus the full-year 2016 administrative expense base
- Value of new business (VNB) for 6M19 up 15.4% to EUR 236 million driven by Insurance Europe and Japan Life;
- total new sales (APE) of EUR 243 million, down 32.5% from 2Q18 at constant currencies
- Solvency II ratio of 210% down from 213% at the end of 1Q19, reflecting movements in credit spreads and the deduction of the 2019 interim dividend, partly offset by operating capital generation
- Holding company cash capital of EUR 2,220 million, including EUR 558 million dividends received from subsidiaries in all segments
- 2019 interim dividend of EUR 0.76 per ordinary share or approximately EUR 252 million
Investor conference call and webcast
Delfin Rueda (CFO) and Jan-Hendrik Erasmus (CRO) will host an analyst and investor conference call to discuss the 2Q19 results at 10:30 am CET on Thursday 15 August 2019. 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/investors.
Delfin Rueda (CFO) and Jan-Hendrik Erasmus (CRO) will host a press call to discuss the 2Q19 results, which will be held at 07:45 am CET on Thursday 15 August 2019. Journalists can join the press call at +31 20 531 5863 (NL).