NN Group : Solvency somewhat better, SBB in line, OCG marginally better
>Conclusion: Solvency somewhat better, SBB in line, OCG marginally better - The S2 ratio was somewhat better than expected by management actions, and YTD the S2 ratio was stable. It is positive that that NN is reducing the uneconomic S2 ratio sensitivity for mortgage spreads. The announced SBB was in line and the dividend was marginally higher. Based on the S2 ratio and with a look forward there will not be any extra SBB later in the year. The 2H22 OCG was marginally ...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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