NN Group : Positive longevity transaction, update on S2 ratio with temporary pressure
>Conclusion: Positive longevity transaction, S2 ratio only temporary pressure - The announced longevity transaction is positive for NN Group. This also gives room to settle the Woekerpolis case soon. Further the S2 update will trigger the market to make their Solvency 2 estimates for end 2023 which will be temporary pressured by the volatile mortgage spreads but we consider this as temporary and to be solved soon in January/February so we have an estimated S2 ratio of...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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