Report
Cor Kluis

ASR : 2H21 figures marginally better, outlook 2022 and 2023 improved

>Conclusion: 2H21 figures marginally better, outlook 2022/2023 improved - The 2H21 results, solvency and OCC were all marginally better than we expected. It is also positive that the cash remittance FCF is at a higher level than expected. We expect that the Solvency 2 ratio will rise by +9pp to 205% by end 1H22 supported by positive market effects. We increase our expected OCC organic capital creation estimates somewhat to € 575m for FY22 and € 610m and for FY23 suppo...
Underlying
ASR Nederland NV

ASR Nederland NV is a multiline insurance company based in the Netherlands. The Company operates through six segments: Non-Life, comprising non-life insurances, including motor vehicle, fire, travel and leisure, transport, liability, agricultural, construction motorized vehicles and construction all risk and assistance insurance products, among others; Life, offering insurance policies that involve asset-building, asset protection, term life insurance and funeral expenses for consumers and business owners; Banking and Asset Management, providing banking activities and activities related to asset management, including investment property management; Distribution and Services, including the distribution of insurance contracts and intermediary services; Holding and Other, providing primarily holding activities of the Company, as well as Real Estate Development, specialized in the development of real estate properties. The Company operates in the Netherlands and internationally.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Cor Kluis

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