NN Group : Results higher, Solvency less, and an OCG target increase in November
>Conclusion: Results higher, Solvency less, OCG target increase in Nov. - The 2Q22 IFRS operating results were higher than expected by NL life and by non life reserve releases. The Operational Cap Generation (OCG) was higher than expected by positive Life-experience variance effects and non-life reserve releases. NN Group did not yet increase its € 1.5bn FY23 OCG target, but we expect € 1.78bn for FY23. A more logical moment for NN Group to increase its OCG target is ...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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