NN Group : FY25 OCG target 5% less than expected, S2 in line, reduction SBB and TP
>Conclusion: new OCG target and capital return less, Solvency in line - At the CMD NN Group presented an OCG capital generation target for 2025 which was at € 1.8bn about 5% less than we expected, as the company is not planning to increase its OCG by additional asset re-risking of the NL life business. NN opts to be somewhat cautious given the current situation, and its view of the external environment. The 3Q22 Solvency 2 (S2) ratio was in line with expectations at 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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