NN Group : 1H23 capital generation and solvency better, no change OCG target 2025
>Conclusion: 1H23 OCG and solvency better, no change OCG target 2025 - In 1H23 the Solvency and the capital generation were better than expected. They increase the OCG cap generation guidance for FY23 but not (yet) that for 2025. The FCF was in line. So the 1H23 results were better partly supported by temporary items like non life and the bank and other. We keep our Outperform recommendation.1H23 Solvency better than expected - End 1H23 the Solvency 2...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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