Our reporting segments

NN Group is an insurance and investment management group with a leading position in the Netherlands and a strong presence in a number of European markets and Japan.

With over 12,000 employees, we offer retirement services, insurance, investments and banking to retail, SME, corporate and institutional customers. Our business activities are structured along the lines of the following reporting segments: Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Investment Management, Other, and Japan Closed Block VA. NN Group is currently a fully-owned subsidiary of ING Group, and we’re preparing to become an independent, standalone company, separate from ING Group.

Overview of NN Group’s businesses

  • Netherlands Life
  • Netherlands Non-life
  • Insurance Europe
  • Japan Life
  • Investment Management
  • Other
  • Japan Closed Block VA

Netherlands Life

Netherlands Life offers a range of group life and individual life insurance products. Its group life policies are primarily group pension products. Its individual life insurance business primarily consists of the closed-block operation of the individual life portfolios (comprising a range of discontinued products sold prior to 2012) of Nationale-Nederlanden, RVS and ING Verzekeringen Retail, formerly known as Postbank Insurance. Netherlands Life also provides pension administration and management services through its AZL brand.

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. These products are offered to retail, self-employed, SMEs (small and medium-sized enterprises) and corporate customers. It does this through multi-channel distribution, primarily through regular brokers and, to a lesser extent, through mandated brokers, NN's direct channel and bancassurance (by ING Bank). Its Movir brand offers individual disability insurance to specific groups amongst medical and business professionals.

Insurance Europe

Insurance Europe primarily offers life insurance, mainly to retail, self-employed and SME customers in 11 countries: Poland, the Czech Republic, the Slovak Republic, Romania, Hungary, Bulgaria, Turkey, Belgium, Spain, Greece and Luxembourg. It also offers pensions in CEE and Spain and non-life insurance in Belgium and Spain, and healthcare insurance in Greece.

Japan Life

In Japan, Japan Life primarily offers a range of COLI (corporate owned life insurance) products to SME owners and employees of SMEs through independent agents and bancassurance. COLI products are traditional life insurance policies with an average duration of nine years that a company, typically an SME, takes out on the lives of executives or employees, whereby the company is both the policyholder and the beneficiary of the policy. COLI products are designed to address the protection, savings, and retirement preparation needs of SMEs and owners and employees of SMEs in a tax-efficient manner.

Investment Management

Investment Management is the asset management business of NN Group. It offers a wide variety of actively managed investment products and advisory services to retail and institutional customers in all major asset classes and investment styles. In addition, it manages the assets of NN Group’s businesses. Investment Management offers its products and services globally through regional centres in several countries across Europe, the United States, the Middle East and Asia, with the Netherlands as its main investment hub.


’Other’ comprises the business of Nationale-Nederlanden Bank, ING Re, the results of the holding and other results.

  • Nationale-Nederlanden Bank offers a broad range of banking products, especially mortgages and savings, to retail customers in the Netherlands.
  • ING Re is NN Group’s internal reinsurer located in the Netherlands. ING Re primarily offers reinsurance to NN Group’s businesses. It manages its risks through ceding excess insurance risk to external reinsurers and hedging (a major part of) its market risks. ING Re also reinsures the minimum guarantee obligations of the Japan Closed Block VA.

Japan Closed Block VA

Japan Closed Block VA comprises NN Group’s closed-block single premium variable annuity (SPVA) individual life insurance portfolio in Japan. This portfolio consists of SPVA products with substantial minimum guarantee obligations sold predominantly from 2001 to 2009. In 2009 ING ceased the sale of these products and placed this portfolio in run-off. This portfolio has been classified as a closed-block and is managed as a separate segment. The majority of the closed block SPVA portfolio is projected to run off relatively quickly due to the short-term maturity profile and short outstanding policy life of the SPVA products. Approximately 90% of all SPVA policies are expected to have matured by the end of 2019.