Slide 1: NN Group 1H21 results
NN Group 1H21 results 12 August 2021
Slide 2: 1H21 highlights
1H21 highlights David Knibbe, CEO
Slide 3: Strong financial and commercial results across the Group
Strong financial and commercial results across the Group Solvency ratio Holdco cash capital Interim dividend Solid balance sheet and attractive capital 209% EUR 1.5bn EUR 0.93 per share1 returns 31 December 2020: 210% 31 December 2020: EUR 1.2bn OCG reflects improved Operating capital Value of new b
Slide 4: Providing products and services that help our customers
Providing products and services that help our customers Higher sales in Europe and Japan Leading to higher Value of new business1 • More favourable business mix in Europe with focus on protection (EURm) products • Higher COLI sales in Japan; new products launched, such as income 242 protection for S
Slide 5: Progress on strategic ambitions to generate value and growth
Progress on strategic ambitions to generate value and growth • DC assets under management increased to EUR 27bn at 1H21 reflecting strong market position • Enhanced digital capabilities in Europe resulting in increased customer engagement and growing Driving organic number of leads (~+40%), which su
Slide 6: Attractive and growing capital returns in line with our commitment to shareholders
Attractive and growing capital returns in line with our commitment to shareholders Dividends (EUR) and share buybacks (EURm) • Interim dividend 2021 of EUR 0.93 per share1 Our commitment: Resilient and growing long-term capital 2.33 3 generation for shareholders 2.16 2 Interim DPS 1.90 Final DPS 1.5
Slide 7: 1H21 results
1H21 results Delfin Rueda, CFO
Slide 8: Solid Solvency ratio at 209%
Solid Solvency ratio at 209% +9% +8% • Positive impact on the ratio from operating Solvency ratio 210% 219% 209% capital generation and market variance, -8% -5% -5% offset by the reduction of UFR and capital flows to shareholders and an increase in +0.7 21.5 +0.7 20.6 SCR due to shift to higher-yiel
Slide 9: 1H21 OCG reflects improved business performance
1H21 OCG reflects improved business performance OCG1 by segment (EURm) 1H21 1H20 Developments 1H21 versus 1H20 Netherlands Life 395 376 • Mainly reflecting higher investment returns Netherlands Non-life 162 61 • Higher underwriting results in P&C and D&A (total combined ratio of 92.0%), while 1H20 w
Slide 10: Holding company cash capital of EUR 1.5bn
Holding company cash capital of EUR 1.5bn Movement in holding company cash capital (EURm) • Free cash flow to the holding of EUR 779m, Free cash flow EUR 779m 978 driven by remittances received from -6 subsidiaries -194 1,533 1,170 -416 • EUR 416m of capital flows to shareholders representing the fi
Slide 11: Strong financial performance
Strong financial performance Operating result 1H21 operating result to net result Net result (EURm) (EURm) (EURm) Operating result 1,119 +21% 141% Non-operating items1 719 1,119 1,414 Special items -47 926 Acquisition intangibles -11 and goodwill Result on Divestment 0 587 Taxation -355 Minority int
Slide 12: Operating result by segment
Operating result by segment Operating result (EURm) 1H21 1H20 Developments 1H21 versus 1H20 Netherlands Life 520 494 • Mainly reflecting a higher investment margin partly offset by a lower technical margin and lower fees and premium-based revenues Netherlands Non-life 189 111 • Driven by higher unde
Slide 13: Key takeaways
Key takeaways David Knibbe, CEO
Slide 14: Key takeaways
Key takeaways Commercial momentum: higher sales in Japan and Europe; VNB doubled Strong financial performance: operating capital generation +44%; operating result +21% Solid balance sheet: Solvency II ratio at 209%, holding company cash capital at EUR 1.5bn Attractive and growing capital returns: in
Slide 15: Q&A
Q&A David Knibbe, Delfin Rueda, Bernhard Kaufmann
Slide 16: Appendices
Appendices @»s
Slide 17: Our broader commitment to stakeholders
Our broader commitment to stakeholders KPIs and targets 30-Jun-21 31-Dec-20 Excellent customer Customer engagement 3 units 4 units experience All insurance business units scoring above market average NPS1 by 2023 Brand consideration2 21% 21% 28% by 2023 Engaged employees Employee engagement 7.8 7.9
Slide 18: Operating capital generation by source
Operating capital generation by source OCG1 by source (EURm) 1H21 1H20 FY20 Investment return 647 569 1,223 Life – UFR drag -431 -421 −978 Life – Risk margin release 204 215 440 Life – Experience variance 3 37 −5 Life – New business 79 53 92 Non-life underwriting 129 43 92 OF Generation – SII entiti
Slide 19: Solvency sensitivities
Solvency sensitivities Δ Solvency Δ OF Δ SCR ratio Sensitivities to shocks at 30 June 20211 (EURbn) (EURbn) (%-points) Interest rate: Parallel shock +50bps -0.4 -0.3 +3% Interest rate: Parallel shock -50bps +0.7 +0.5 -3% Interest rate: 10bps steepening between 20y–30y -0.6 +0.1 -7% Credit spread: Pa
Slide 20: Remittances from subsidiaries
Remittances from subsidiaries Remittances from subsidiaries (EURm) 1H21 1H20 FY20 FY19 Netherlands Life1 520 450 930 814 Netherlands Non-life1 85 43 62 85 Insurance Europe1,2 125 63 77 148 NN Japan Life 146 119 119 79 Asset Management 60 42 81 195 Banking1 13 1 1 107 NN Re Netherlands 30 - 30 10 Oth
Slide 21: 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
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