ASR : CMD shows back to life growth, buy-out confidence, good excess capital
The CMD of a.s.r. gives us more confidence in our Outperform recommendation. Key is that their main business ‘life insurance’ goes from a small declining OCG to a stable/growing OCG going forward. A.s.r. increased its OCG target partly because it has confidence to include pension buy-outs as well. Solvency wise a.s.r. has the benefit that the coming years the unique Aegon-integration benefits and EIOPA review (in total +27pp on S2 ratio) are more than sufficient to fund the capit...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.