NN Group : Good H1 results, no change in future OCG target/estimates, IFRS17 update
>Conclusion: Good H1 results, no change in future OCG, IFRS17 update - The H1 23 Solvency 2 (S2) ratio and organic capital generation (OCG) were better than expected partly by one-offs. Consequently, NN Group kept its OCG guidance for FY25 unchanged at € 1.8bn. The H1 23 FCF was also enhanced by a one-off, so we also keep our future FCF estimates unchanged at € 1.3bn. At the H1 23 results NN had no change in its mortgage spread S2 sensitivity yet, but they did reduce ...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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