Asr Nederland N.v. · EURONEXT:ASRNL
Asr Nederland — Shareholder Meeting (May 2025)
60 slides from Asr Nederland's shareholder meeting presentation, May 21, 2025
Slide 1: General Meeting 2025
General Meeting 2025
Slide 2: Joop Wijn, Chair of the Supervisory Board
Joop Wijn Chair of the Supervisory Board AGM ASR Nederland N.V. 21 May 2025 2
Slide 3: Supervisory Board and Management Board
Supervisory Board Joop Wijn Gerard van Olphen Sonja Barendregt Gisella • MemberEikelenboom of the Supervisory Daniëlle • Member Jansen Heijtmajer of the Supervisory Lard Friese Bob Elfring Board Board • Chair of the Supervisory • Vice-chair of the • Member of the Supervisory • Member of the Supervis
Slide 4: Introduction other attendees, Tape recording
Introduction other attendees Tape recording AGM ASR Nederland N.V. 21 May 2025 4
Slide 5: Agenda items for voting
2d Remuneration report 2024 (advisory vote) 3a Proposal to adopt the financial statements for the 2024 financial year 3c Proposal to pay dividend 4a Proposal to grant discharge to the members of the Executive Board for the 2024 financial year 4b Proposal to grant discharge to the members of the Supe
Slide 6: Order of the meeting, Webcast service
Order of the meeting Webcast service (Dutch and English) AGM ASR Nederland N.V. 21 May 2025 6
Slide 7: Jos Baeten, CEO and Chair of the Executive Board
Jos Baeten CEO and Chair of the Executive Board AGM ASR Nederland N.V. 21 May 2025 7
Slide 8: Update on recent geopolitical developments
Update on recent geopolitical developments AGM ASR Nederland N.V. 21 May 2025 8
Slide 9: Creating a leading insurer in the Netherlands
• All 2024 milestones achieved, synergy realisation ahead of planning Integration on • Clear integration calendar track • Fully on track to deliver cost synergies and OCC target per 2026 Creating a • Strong commercial momentum in all business segments leading insurer Sustainable profitable growth •
Slide 10: FY 2024 highlights
• Robust Solvency II ratio increased to 198% Organic capital creation Solvency II ratio Solvency II • Increase in OCC to € 1,193m • 8% increase in total dividend per share amounting to a FY DPS of € 3.12 • SBB of € 125m in 2025 € 1,193m 198% • Total capital return for 2024 amounting to € 879m +36.5%
Slide 11: Non-financial targets
Non-financial targets1 Sustainable reputation Employee engagement2 Gender diversity Carbon footprint Impact investments4 Customer satisfaction Public recognition in management3 reduction4 Net Promotor Score (NPS-r) 39% 73 32% 5% 8.7% -12 female reduction of investment portfolio 38-43% >85 40% female
Slide 12: Realisation of run-rate cost synergies
closing → FY 2024 realised 50% of synergies Realisation of run-rate cost synergies • Staff functions operate in target operating model • Total workforce1 reduced by >500 FTE with further reductions to follow integration efforts € 215m Staff • Harmonisation of collective labour agreement Staff realis
Slide 13: Final settlement of unit-linked policies timeline
a.s.r.'s final settlement solution adopted as industry Quick and positive response: final settlement provides standard; resolving two decades of disputes and (collective) attractive solution and certainty for affiliated policyholders of proceedings and clears overhang a.s.r. and Aegon products Withd
Slide 14: Premiums received and combined ratio P&C and Disability
Premiums received (in €m) Combined ratio P&C and Disability (in %) Premiums received P&C Disability • Strong organic premium growth in both P&C and Disability +12.1% -1.7%-p (+5.1%) and inorganic growth through the addition of Aegon NL 3,968 93.5% 91.9% • Organic growth reflects price increases to m
Slide 15: DC accumulation, annuities, pension buy-outs
DC accumulation Annuities Pension buy-outs DC accumulation inflow (in €m) Annuities inflow (in €m) Pension buy-outs AuM inflow (in €m) € 8bn € 1.8bn € 8bn +189.2% Subject to +33.7% regulatory approval 2,768 581 2,070 ~1,600 201 0 69 FY 2023 FY 2024 FY 24-26 FY 2023 FY 2024 FY 24-26 FY 2023 FY 2024 F
Slide 16: Business highlights: asset management, distribution & services
Business highlights Business KPIs Operating result Segment Asset management Fee income (in €m) Operating result (in €m) • Retained market leading position among Dutch +45.0% +34.9% insurers in mortgage origination. Increased 703 production driven by the contribution of Aegon 484 150 NL and increasin
Slide 17: Profitable growth and capital accretion leads to increased capital returns
Profitable growth and capital accretion leads to increased capital returns Total capital return since IPO € 3.9bn Cumulative dividends: € 3.2bn Total FY 2024 dividend of € 3.12 per share (€ 1.96 final Cumulative share buybacks: € 0.7bn dividend); 8% DPS increase Capital return (in €m) 879 Share buyb
Slide 18: €3.12 DPS and €879m capital return
€ 3.12 DPS € 879m • 8% increase compared to 2023 • Total dividend and SBB over the year • Final dividend of € 1.96 per share, 2024 amounts € 879 million (dividend: taking into account the interim € 654 million; SBB: € 225 million) dividend of € 1.16 per share • The dividend proposal is consistent di
Slide 19: Creating a leading insurer in the Netherlands
► Solid performance in all business segments bolstered by the contribution of Aegon NL; OCC on track to achieve medium-term target of € 1.35bn in 2026 ► Strong commercial results driven by both organic and inorganic growth. Delivering on growth targets and a solid base for medium-term growth targets
Slide 20: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 20
Slide 21: Annual Report 2024 Section 5.2
Annual Report 2024 Section 5.2 AGM ASR Nederland N.V. 21 May 2025 21
Slide 22: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 22
Slide 23: Annual Report 2024 Chapter 5.1
Annual Report 2024 Chapter 5.1 AGM ASR Nederland N.V. 21 May 2025 23
Slide 24: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 24
Slide 25: Gisella Eikelenboom, Chair of the Remuneration Committee
Gisella Eikelenboom Chair of the Remuneration Committee AGM ASR Nederland N.V. 21 May 2025 25
Slide 26: Annual Report 2024 Chapter 5.3
Annual Report 2024 Chapter 5.3 AGM ASR Nederland N.V. 21 May 2025 26
Slide 27: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 27
Slide 28: Electronic voting, shares entitled to vote
Electronic voting Number of shares entitled to vote AGM ASR Nederland N.V. 21 May 2025 28
Slide 29: Voting test question
Is tomorrow a Thursday? Choose your answer 1 For 2 Against 3 Abstained AGM ASR Nederland N.V. 21 May 2025 29
Slide 30: Advisory vote to adopt the 2024 remuneration report
Advisory vote to adopt the 2024 remuneration report AGM ASR Nederland N.V. 21 May 2025 30
Slide 31: Agenda item 2d: 2024 remuneration report
Agenda item 2d 2024 remuneration report For 163,858,777 Against 7,085,276 Abstained 2,614,717 For [i 95.86% Against J 4.14% AGM ASR Nederland N.V 21 May 2025
Slide 32: Sonja Barendregt, Chair of the Audit & Risk Committee
Sonja Barendregt Chair of the Audit & Risk Committee AGM ASR Nederland N.V. 21 May 2025 32
Slide 33: Annual Report 2024 Chapters 5.2 & 7
Annual Report 2024 Chapters 5.2 & 7 AGM ASR Nederland N.V. 21 May 2025 33
Slide 34: Ton Reijns, Partner at KPMG
Ton Reijns Partner at KPMG AGM ASR Nederland N.V. 21 May 2025 34
Slide 35: AGM ASR Nederland N.V.
AGM ASR Nederland N.V. 29 May 202 35 35
Slide 36: Our 2024 audit
Our 2024 audit 01. Our reports =f Financial statements (FS) * Auditor's report on consolidated and company financial statements * Our opinion: unqualified Sustainability statements in Annual Report + First year CSRD/ESRS + Limited assurance engagement Unqualified conclusion 3 emphasis of matters (ma
Slide 37: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 37
Slide 38: Proposal to adopt the financial statements for 2024
Proposal to adopt the financial statements for the financial year 2024 AGM ASR Nederland N.V. 21 May 2025 38
Slide 39: Agenda item 3a: financial statements vote
Agenda item 3a Proposal to adopt the financial statements for the 2024 financial year For 172,542,678 Against 39,953 Abstained 975,999 For [i 99.98% Against | 0.02% AGM ASR Nederland N.V 21 May 2025
Slide 40: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 40
Slide 41: Agenda item 3c: dividend vote
Agenda item 3c Proposal to pay dividend For 173,546,701 Against 11,166 Abstained 803 For [i >99.99% Against | <0.01% AGM ASR Nederland N.V 21 May 2025
Slide 42: Discharge of Executive Board members for 2024
Proposal to grant discharge to the members of the Executive Board for the 2024 financial year AGM ASR Nederland N.V. 21 May 2025 42
Slide 43: Agenda item 4a: Executive Board discharge vote
Agenda item 4a Proposal to grant discharge to the members of the Executive Board for the 2024 financial year For 170,422,664 Against 2,392,956 Abstained 743,050 For [I 93.62% Against | 1.38% AGM ASR Nederland N.V 21 May 2025
Slide 44: Discharge of Supervisory Board members for 2024
Proposal to grant discharge to the members of the Supervisory Board for the 2024 financial year AGM ASR Nederland N.V. 21 May 2025 44
Slide 45: Agenda item 4b: Supervisory Board discharge vote
Agenda item 4b Proposal to grant discharge to the members of the Supervisory Board for the 2024 financial year For 170,533,577 Against 2,692,088 Abstained 333,005 For (NN 93.45% Against | 1.55% AGM ASR Nederland N.V 21 May 2025
Slide 46: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 46
Slide 47: Authorisation to issue ordinary shares
Proposal to extend the authorisation of the Executive Board to issue ordinary shares and/or grant the right to subscribe for ordinary shares • For a period of 18 months • Up to a maximum of 10% of the share capital • Subject to approval of the Supervisory Board AGM ASR Nederland N.V. 21 May 2025 47
Slide 48: Authorisation to issue ordinary shares
Proposal to extend the authorisation of the Executive Board to issue ordinary shares and/or grant the right to subscribe for ordinary shares AGM ASR Nederland N.V. 21 May 2025 48
Slide 49: Agenda item 5a: share issuance vote
Agenda item 5a Proposal to extend the authorisation of the Executive Board to issue ordinary shares and/or grant rights to subscribe for ordinary shares For 172,721,461 Against 835,515 Abstained 1,694 For (i 99.52% Against | 0.48% AGM ASR Nederland N.V 21 May 2025
Slide 50: Authorisation to restrict or exclude pre-emption rights
Proposal to extend the authorisation of the Executive Board to restrict or exclude statutory pre-emption rights • In connection with the issue authorisation granted under agenda item 5a • For a period of 18 months • Subject to approval of the Supervisory Board AGM ASR Nederland N.V. 21 May 2025 50
Slide 51: Authorisation to restrict or exclude pre-emption rights
Proposal to extend the authorisation of the Executive Board to restrict or exclude statutory pre-emption rights AGM ASR Nederland N.V. 21 May 2025 51
Slide 52: Agenda item 5b: pre-emptive rights vote
Agenda item 5b Proposal to extend the authorisation of the Executive Board to restrict or exclude statutory pre- emptive rights For 172,429,294 Against 1,125,766 Abstained 3,610 For [i 99.35% Against | 0.65% AGM ASR Nederland N.V 21 May 2025
Slide 53: Authorisation to acquire the company's own shares
Proposal to authorise the Executive Board to acquire the company’s own shares • For a period of 18 months • Up to a maximum of 10% of the share capital • At a price between the nominal share value and 10% above an average • Closing price over a period of 5 days preceding the day of acquisition of th
Slide 54: Authorisation to acquire the company's own shares
Proposal to authorise the Executive Board to acquire the company’s own shares AGM ASR Nederland N.V. 21 May 2025 54
Slide 55: Agenda item 5c: share repurchase vote
Agenda item 5c Proposal to authorise the Executive Board to acquire the company’s own shares For 171,953,384 meal! 1,506,143 Abstained 99,143 For [i 99.13% Against | 0.87% AGM ASR Nederland N.V 21 May 2025
Slide 56: Proposal to cancel shares held by a.s.r.
Proposal to cancel shares held by a.s.r. • a.s.r. acquired 2,213,413 shares in its own capital between 7 November 2024 and 11 December 2024 • It is proposed to cancel these 2,213,413 shares • This will reduce the issued share capital from 211,326,978 shares to 209,113,565 shares • Purpose of the can
Slide 57: Agenda item 6a: share cancellation vote
Agenda item 6a Proposal to cancel shares held by a.s.r. For 173,064,298 Against 491,990 Abstained 2,382 For [i 99.72% Against | 0.28% AGM ASR Nederland N.V 21 May 2025
Slide 58: Intention to reappoint Ewout Hollegien to Executive Board
Intention to reappoint Ewout Hollegien as member of the Executive Board AGM ASR Nederland N.V. 21 May 2025 58
Slide 59: AGM ASR Nederland N.V. 21 May 2025
AGM ASR Nederland N.V. 21 May 2025 59
Slide 60: General Meeting 2025
General Meeting 2025