April 29, 2017 3:54 AM ET

Insurance

Company Overview of NN Group N.V.

Company Overview

NN Group N.V., an insurance and asset management company, primarily provides life insurance products in the Netherlands, Europe, the United States, the Middle East, and Asia. The company operates through seven segments: Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Asset Management, Other, and Japan Closed Block VA. It offers group and individual life/pension products, individual life closed block products, single premium variable annuity individual life insurance products, and corporate-owned life insurance products; and health, motor, fire, liability, transport, disability, and accident insurance products, as well as pension administration services. The company also...

Schenkkade 65

The Hague,  2595 AS

Netherlands

Founded in 2011

11,463 Employees

Phone:

31 70 513 03 03

Key Executives for NN Group N.V.

Chairman of Executive Board and Chief Executive Officer
Age: 54
Total Annual Compensation: €1.6M
Vice Chairman of Executive Board and Chief Financial Officer
Age: 52
Total Annual Compensation: €1.2M
Compensation as of Fiscal Year 2016.

NN Group N.V. Key Developments

NN Group to Call EUR 476 Million 6.375% Subordinated Notes

NN Group announced that it will redeem the outstanding aggregate principal amount of EUR 476,290,000 of the 6.375% Fixed to Floating Rate Subordinated Notes due 2027 pursuant to the terms of the Subordinated Notes in the prospectus dated 2 May 2002. The Subordinated Notes will be redeemed in full in accordance with the terms on the first call date which is 7 May 2017. The redemption price payable for the Subordinated Notes on the redemption date is 100% of the outstanding aggregate principal amount of the Subordinated Notes, plus accrued and unpaid interest as at the redemption date. The paying agent for these Subordinated Notes is The Bank of New York Mellon, London Branch One Canada Square London E14 5AL United Kingdom.

NN Group to Appoint Satish Bapat as Member of the Management Board, Effective from April 1, 2017

NN Group announced that effective April 1, 2017, Satish Bapat will be appointed as a member of the Management Board of the company. Satish Bapat has been CEO of NN Life Japan since 2013. From 2011 to 2013, he held the position of CEO Asia Pacific and Global CFO for NN Investment Partners. He has over 20 years' experience in the financial services industry, both in and outside of the Netherlands.

NN Group N.V. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016

NN Group N.V. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company's operating result ongoing business was EUR 282 million against EUR 250 million for the same period last year. The increase reflects a higher investment margin at Netherlands Life, higher fees and premium-based revenues at Insurance Europe and improved results at NN Bank and the reinsurance business, partly offset by an unfavourable claims experience at Netherlands Non-life. Profit before tax was EUR 158 million against EUR 345 million for the same period last year. Net profit was EUR 148 million against EUR 360 million for the same period last year. Basic earnings per ordinary share were EUR 0.43 against EUR 1.06 for the same period last year. Net operating ROE was 7.2% against 7.5% for the same period last year, due to higher equity which more than offset the effect of the higher operating result. Net operating results were EUR 215 million compared to EUR 205 million a year ago. For the full year, the company's operating result ongoing business was EUR 1,277 million against EUR 1,435 million for the same period last year. Profit before tax was EUR 1,463 million against EUR 1,761 million for the same period last year. Net profit was EUR 1,189 million against EUR 1,565 million for the same period last year. Basic earnings per ordinary share were EUR 3.55 against EUR 4.51 for the same period last year. Net operating ROE was 8.1% against 10.8% for the same period last year, which benefited from higher private equity dividends in the Netherlands. Net operating results were EUR 941 million compared to EUR 1,165 million a year ago.

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