NN Group : Non-life good, higher rates increases OCG but no immediate dividend effect
>Conclusion: Non-life good, cap gen. +13% but no immediate div. impact - At the investor & analyst deep-dive webinar NN Group showed that the NL non-life business is doing well, whereby the P&C market is somewhat structurally improved, and the D&A market was already healthy (excl. Covid-19). But it will take NN some years to improve the medical subsegment (about 15% of D&A). Based on the latter we understand that it is too early to change/improve its non-life 94-96% c...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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