NN Group : Solvency, OCG, FCF somewhat better, guidance unchanged, non-life in line
>Conclusion: Solvency, OCG and FCF somewhat better, guidance unchanged - The 1H24 Solvency, OCG and FCF were all marginally better than expected. Their future guidance for OCG and FCF remain unchanged. In total we expect some outperformance of the share price today. We keep our Outperformance recommendation. This residential house effect on Solvency and the good non-life combined ratio are also good for a.s.r. as well.1H24 Solvency better than consensus a...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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