NN Group : 1H24 Solvency in line, OCG/FCF better but targets unchanged
>Conclusion: 1H24 Solvency in line, OCG/FCF better but targets unchanged - The end-1H24 Solvency ratio was in line with our expectations supported by the strong NL housing market. For Q3 the equity/rate/real estate market impact is quite neutral for the S2 ratio, and we estimate the S2 ratio to rise to 198% by end-2024. The years after the S2 ratio will grow further by the retained capital generation. This retained capital generation can be offset by the NL pension bu...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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