NN Group : Solvency and cash return/SBB in line, NL life profit better and OCG less
>Conclusion: - The 2H20 Solvency, SBB and dividend were in line with expectations. The IFRS earnings were better than expected by the NL Life business due to better investment returns, and the OCG Solvency 2 capital generation was less than expcted also by the NL life business due to more UFR strain by the lower interest rates. However this latter is to turn around to a positive effect because YTD rates increased by 30bp again adding about EUR 145m OCG in 2021. In tot...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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