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 all our employees, we aim to deliverhigh-quality products and services to retail, SME, large corporate andinstitutional customers. Our business activities are structured in sevenreporting 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 Europeprimarily offers life insurance and pension products to retail, self-employedand SME customers. In Belgium and Spain we also offer non-life insuranceproducts and health insurance in Greece. The countries in which InsuranceEurope is active are a mixture of mature and growth markets. Our main brands are NN and Nationale-Nederlanden (in Spain and Poland).

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 is the asset management business of NN Group. It manages the assets of the group’s insurance businesses and offers retail and institutional customers a wide variety of actively managed investment products. It also provides 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, NN Re, the results of NN Group’s holding company, 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 NN Group’s closed-block single premium variable annuity (SPVA) individual life insurance portfolio in Japan. These products were predominantly sold from 2001 to 2009. The total portfolio is reinsured by NN Re in the Netherlands. The portfolio is actively managed and hedged on a market consistent basis, and is expected to release capital as the block runs off. The exact timing and amount cannot be predicted as it is influenced by the results of the hedge programme. We expect 60% of the book to run-off by the end of 2019 (measured from the end of 2017).

Our reporting segments