Report
Cor Kluis

ASR : H2 results marginally better on all fronts, rising rates +10% for OCC in 2022

>Conclusion: better results on all fronts, OCC tailwind from rising rates - The 2H21 were results marginally better on all fronts as results were better by non life disability and health, life was better, solvency was better and OCC was better. Further rising interest rates are adding +10% to the OCC in 2022. Further the storms cost are in line due the reinsurance cap. We keep our outperform recommendation top pick.2H21 operating results better by non lif...
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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