Nn Group N.v. · EURONEXT:NN
Nn — Shareholder Meeting (May 2019)
15 slides from Nn's shareholder meeting presentation, May 29, 2019
Slide 1: Shaping our tomorrow: 2018 Annual Review
Shaping our tomorrow NN Group N.V. 2018 Annual Review Lard Friese, CEO Annual general meeting, The Hague, 29 May 2019
Slide 2: Management Board members appointed in 2018
Management Board members appointed in 2018 Fabian Rupprecht Janet Stuijt CEO International Insurance General Counsel • Responsible for Insurance Europe, Japan Life, and Japan • Responsible for the legal and compliance function and Closed Block VA businesses holds the position of company secretary •
Slide 3: The 2018 Annual Report provides an integrated review of the performance of our company
The 2018 Annual Report provides an integrated review of the performance of our company The report was drawn up in accordance with: • Applicable Dutch law and IFRS • Global Reporting Initiative’s Sustainability Standards • Guidelines of the International Integrated Reporting Council • The revised Cor
Slide 4: A dynamic environment for the sector
A dynamic environment for the sector Brexit Migration Climate change Lower economic growth Digitalisation Low interest rates Aging populations Debt
Slide 5: Integration milestones
Integration milestones Approval from the Dutch Central Bank was obtained Following execution of legal mergers of Life and Non-life to expand the Partial Internal Model to include the businesses of NN and Delta Lloyd on 1 January 2019, Dutch Delta Lloyd Life and Non-life entities as from the legal me
Slide 6: Partnerships and innovation
Partnerships and innovation Carefree retirement Cybersecurity Vitality
Slide 7: Progress on Group medium-term financial targets in 2018
Progress on Group medium-term financial targets in 2018 EUR ~400m cost reduction1 by 2020 Annual earnings growth of Over time, generate free cash compared with 2016 full-year expense base 5-7% on average in the available to shareholders in a range (EURm) medium term2 around the net operating result3
Slide 8: Commercial momentum maintained in 2018
Commercial momentum maintained in 2018 Value of new business New sales (APE) (EURm) (EURm) +13% -8% • VNB up 13% on 2017 mainly driven by an improved 391 1,791 1,640 product mix at Insurance Europe and Japan Life 345 9 368 10 262 • APE down 8% on 2017 mainly due to a lower volume 168 of group pensio
Slide 9: Double-digit increase in 2018 dividend per share
Double-digit increase in 2018 dividend per share • Priority is a sustainable ordinary dividend per share 0.57 1.51 1.55 1.66 1.90 • Proposed 2018 final dividend of EUR 1.24 per share, bringing full-year 2018 dividend to EUR 1.90 per share, up 14.5% on 2017 • Equivalent to a pay-out ratio1 of 50% of
Slide 10: Financial highlights 1Q19
Financial highlights 1Q19 Financial results Operating result Net result Expense savings1 EUR 468m EUR 512m EUR 310m (1Q18: EUR 313m) (1Q18: EUR 399m) (4Q18: EUR 289m) Capital Solvency II ratio Holdco cash capital Free cash flow 213% EUR 2.0bn EUR 183m (4Q18: 230%) (4Q18: EUR 2.0bn) (1Q18: EUR 198m)
Slide 11: Non-financial highlights
Non-financial highlights Future Matters Sustainability Diversity Active engagement ESG integration
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Slide 13: Share price development in 2018
Share price development in 2018 31/12/2017 31/12/2018 EUR 36.12 EUR 34.80 Development NN Group share price in 2018 Total shareholder return: 110.5%* since IPO (31 December 2018) * this includes reinvested dividends
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Slide 15: Important legal information
Important legal information NN Group’s Consolidated Annual Accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (“IFRS-EU”) and with Part 9 of Book 2 of the Dutch Civil Code. In preparing the financial information in this document, the