NN Group : New OCG target and capital return less, Solvency in line
>New OCG target and cap return less, Solvency in line - The OCG capital generation target 2025 and the capital return target were both somewhat less than we expected, so we have to reduce our future FCF/OCG yield somewhat. The S2 ratio end 3Q22 was in line with expectations. After today we believe even more that a.s.r. is our top pick in the Benelux insurance sector as they have a good OCG target and can surprise positively on the integration with Aegon NL.§p...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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