NN Group: 42% increase in half-year net income

( – NN Group publishes net income up 42% to 2.01 billion euros for the first six months of 2022, thanks to the gain on the sale of NN IP, but operating income down by 12% to 983 million under the effect of the February storm in the Netherlands.

Operating capital generation increased from €780 million in the first half of 2021 to €899 million, mainly reflecting a higher contribution from Netherlands Life, Japan Life and Insurance Europe.

The Dutch insurer’s Solvency II ratio fell to 196% at the end of June from 213% at December 31, 2021, mainly reflecting the deduction of capital flows to shareholders and the negative impact of market movements.

The holding company’s cash position increased to 2.47 billion euros, compared to two billion euros at the end of 2021. A 2022 interim dividend of one euro per ordinary share, or approximately 294 million euros, will be offers.

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