NN Group reports 2Q2016 results
Capital position remains strong; lower operating result
- Operating result ongoing business of EUR 321 million versus EUR 488 million in 2Q15; the current quarter was impacted by higher claims at Netherlands Non-life due to severe storms, while the second quarter of last year was supported by a private equity dividend and a significantly higher technical margin in Netherlands Life
- Net result of EUR 335 million versus EUR 392 million in 2Q15 reflecting a lower operating result and negative hedge results in Japan Closed Block VA due to market volatility, partly offset by higher non-operating items
- Progress on cost savings in the Netherlands, bringing the annual expense base down to EUR 786 million
- Solvency II ratio increased to 252% from 241% at 1Q16 as positive market impacts were only partly offset by deductions for the EUR 500 million share buyback programme and the 2016 interim dividend
- Holding company cash capital increased to EUR 2.3 billion driven by dividends from almost all segments
- Interim dividend 2016 of EUR 0.60 per ordinary share or approximately EUR 195 million
Press and media calls
Investor conference call and webcast
Lard Friese and Delfin Rueda will host an analyst and investor conference call to discuss the 2Q16 results at 10.00 am CET on Thursday 18 August 2016. 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 2Q16 results, which will be held at 12.00 pm CET on Thursday 18 August 2016. Journalists can join the press call at +31 (0)20 531 5863.