ASR : Capital generation at a higher level, operational results good, TP up
>Conclusion: Capital generation and profit better, Solvency in line - In 1H22 Capital Generation was better than expected, and they basically increase the FY22 and FY23 OCC guidance mostly driven by higher interest rates, better non-life results, and more excess spread. We also like that the renewable investments contribute well to this. Mid-2023 they will formally update/increase their OCC targets. Despite its good Solvency it did not yet announce an extra capital re...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.
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.
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