NN Group : Good and improving Capital generation, Solvency and Cash in 1H21
>Conclusion: We expect a good and improving 1H21 - For end-1H21, we expect NN Group to show a marginal increase of the Solvency 2 ratio to 212% (end 2020 210%) mostly driven by incoming mortgages spreads. We expect the Operational Cap Generation (OCG) to rise well to € 638m in 1H21 vs the low 2H20 partly by rising interest rates/lower UFR strain. We see the cash at holding rising somewhat to € 1.4bn being at the top end of their target range. For 1H21, we also expect ...NN Group is a financial services company based in the Netherlands. Co. engages in insurance and investment management activities, providing life and non-life insurance products primarily in the Netherlands, Belgium, rest of Europe, and Asia. Co. offers group and individual life insurance; and motor, transport, fire, liability, travel, and income insurance. Co. also offers retirement, insurance, investments, and banking services to retail, SME, corporate, and institutional customers. Co. is active in 18 countries, with a presence predominantly in a number of European countries and Japan.
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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