NN Group: Πτώση 12,1% στα λειτουργικά κέρδη το α΄ εξάμηνο
Πτώση 12,1% εμφάνισαν τα λειτουργικά κέρδη του ολλανδικού ασφαλιστικού κολοσσού NN Group στο α΄ εξάμηνο της τρέχουσας χρήσης έναντι του αντίστοιχου διαστήματος του προηγούμενου έτους, ως απόρροια των επιπτώσεων των καιρικών φαινομένων και της πώλησης του βραχίονα διαχείρισης περιουσιακών στοιχείων.
Ειδικότερα, τα λειτουργικά κέρδη του ομίλου διαμορφώθηκαν στα 983 εκατ. ευρώ ή 1,01 δισ. δολάρια το πρώτο μισό του έτους, έναντι 1,12 δισ. ευρώ την αντίστοιχη περσινή περίοδο.
Η NN ανέφερε ότι η παραγωγή κεφαλαίων κίνησης βελτιώθηκε στα 899 εκατ. ευρώ, έναντι 780 εκατ. ευρώ το πρώτο εξάμηνο της προηγούμενης χρήσης.
NN Group: Ολοκληρώνει την απόκτηση των επιχειρηματικών δραστηριοτήτων της MetLife σε Πολωνία και Ελλάδα
Το NN Group ανακοίνωσε την ολοκλήρωση της απόκτησης των επιχειρηματικών δραστηριοτήτων της MetLife στην Πολωνία, μετά από την έγκριση της Πολωνικής Αρχής Οικονομικής Εποπτείας (Komisja Nadzoru Finansowego, KNF) στις 14 Απριλίου 2022. Η απόκτηση των επιχειρηματικών δραστηριοτήτων της MetLife στην Ελλάδα, ολοκληρώθηκε στις 31 Ιανουαρίου 2022.
David Knibbe, CEO NN Group: «Η σημερινή ημέρα αποτελεί ορόσημο για την NN στην Πολωνία και στην Ελλάδα, καθώς αυτή η εξέλιξη ενισχύει τις θέσεις μας σε αυτές τις αγορές που παρουσιάζουν ελκυστικές προοπτικές ανάπτυξης. Τους επόμενους μήνες, θα ενσωματώσουμε τις επιχειρηματικές δραστηριότητες της MetLife στους τοπικούς οργανισμούς του Ομίλου στις δύο αυτές χώρες. Καθώς ενώνουμε τα δυνατά σημεία των δύο εταιριών, δεσμευόμαστε να συνεχίσουμε να σεβόμαστε τα ταλέντα και την εμπειρία των εργαζομένων και των δύο εταιριών και να ακολουθήσουμε μια δίκαιη προσέγγιση με διαφάνεια. Κατά τη διάρκεια αυτής της διαδικασίας θα συνεχίσουμε να εστιάζουμε στο να παρέχουμε υπηρεσίες υψηλού επιπέδου στους πελάτες μας και να βελτιώνουμε τις επιδόσεις της ενοποιημένης εταιρίας, δραττόμενοι των ευκαιριών των αγορών και επιτυγχάνοντας τα αναμενόμενα οφέλη από αυτή τη συνένωση. Καλωσορίζουμε τους εργαζόμενους, τους πελάτες και τους συνεργάτες της MetLife Πολωνίας και Ελλάδας και προσβλέπουμε σε ένα επιτυχημένο κοινό μέλλον».
CEO Nationale-Nederlanden Πολωνίας, Paweł Kacprzyk: «Σήμερα ξεκινάμε το ταξίδι μας προς την από κοινού δημιουργία μιας νέας, ενιαίας εταιρίας, με πιο ισχυρή θέση στην Πολωνική αγορά και διευρυμένο δίκτυο. Με ενθουσιασμό, δεσμεύομαι να υλοποιήσω την ενσωμάτωση, καθοδηγούμενος από τις αξίες μας -«Νοιαζόμαστε, Είμαστε Ξεκάθαροι, Δεσμευόμαστε»-, ενώ συνεχίζουμε να εστιάζουμε στους πελάτες μας και στην Πολωνική κοινωνία».
Καθώς η απόκτηση της MetLife στην Ελλάδα ολοκληρώθηκε στις 31 Ιανουαρίου 2022, η ΝΝ Hellas έχει ήδη ξεκινήσει την ενσωμάτωση, ενώ συνεχίζει να εστιάζει στις ανάγκες των ασφαλισμένων, των συναδέλφων, των δικτύων διανομής και της κοινωνίας.
Πρόεδρος και Διευθύνων Σύμβουλος της ΝΝ Hellas και της ΝΝ Hellas II, Μαριάννα Πολιτοπούλου: «Από τα τέλη Ιανουαρίου ξεκινήσαμε τη διαδικασία ενοποίησης. Η απόκτηση αυτή θα μας δώσει τη δυνατότητα να εμπλουτίσουμε τα προϊόντα και τις υπηρεσίες μας και να διαφοροποιήσουμε την πλατφόρμα διανομής μας, με ανθρωποκεντρική προσέγγιση. Έχοντας προετοιμάσει το σχέδιό μας προσεκτικά, εργαζόμαστε όλοι μαζί για να υλοποιήσουμε τη συνένωση, με στόχο να δημιουργήσουμε τη μεγαλύτερη εταιρία στην ελληνική ασφαλιστική αγορά».
NN Group obtains approval from the Polish regulator to acquire MetLife in Poland
NN Group (NN) announced that it has received approval from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, KNF) with regard to the acquisition of MetLife’s business activities in Poland. The agreement to acquire MetLife’s businesses in both Greece and Poland was announced on 5 July 2021.
The transaction will strengthen NN’s leading position in life insurance in Poland and will expand its distribution channels.
Today’s approval follows the competition clearance obtained from the European Commission on 7 December 2021. The transaction to acquire MetLife’s businesses in Poland is expected to be completed in April 2022. NN Group completed the acquisition of MetLife’s businesses in Greece on 31 January 2022.
NN Group completes sale of NN Investment Partners to Goldman Sachs
NN Group announced the completion of the sale of its asset manager NN Investment Partners (NN IP) to Goldman Sachs Group, Inc. The completion of the transaction follows the fulfilment of the customary closing conditions, including receipt of all necessary regulatory approvals. The agreement on the sale of NN IP and the ten-year strategic partnership with Goldman Sachs Asset Management were announced on 19 August 2021.
David Knibbe, CEO NN Group: ‘Today marks a significant moment in the history of our company, as the long-standing collaboration with NN IP enters a new phase. Our asset manager, a leader in responsible investing, contributed to where we are as a company today by delivering investment excellence and expertise to customers. NN IP is joining forces with another international asset manager, giving it the broader platform necessary to continue its growth. For NN Group, this transaction gives us greater flexibility to enhance our investment propositions for customers. On behalf of the NN Group Management Board, I would like to thank our NN IP colleagues for their dedication, passion and commitment and we are looking forward to continuing our successful relationship in a different form.’
The sale of NN IP has generated total cash proceeds of around EUR 1.7 billion and is expected to have a positive impact on the NN Group Solvency II ratio of approximately 16%-points. Given its robust balance sheet and capital position, NN Group announced on 17 February 2022 a total share buyback of EUR 1.0 billion, of which the EUR 250 million programme commenced on 1 March 2022. The remaining share buyback programme of EUR 750 million will start on 13 April 2022 and is expected to be completed before 1 March 2023.
NN Group published 2021 Annual Report
NN Group today published its 2021 Annual Report: Serving customers in times of change, an integrated review of the company’s performance.
NN Group’s Annual Report is available for download at www.nn-group.com/annual-report. The carbon footprint analyses of our proprietary assets and the EU Taxonomy disclosures have been incorporated in the Annual Report as of this year. Together with this report, NN Group publishes a Solvency & Financial Condition Report and a Total Tax Contribution Report. Next to that, NN Investment Partners publishes a Responsible Investment Report.
NN Group filed the Annual Report 2021 with the Netherlands Authority for the Financial Markets in European single electronic reporting format (ESEF). All these reports are published on NN Group’s corporate website in the Investors/Financial reports section. Other documents related to NN Group’s annual general meeting of shareholders (AGM), including the agenda, will be available from 6 April 2022 at www.nn-group.com. The AGM will be held on 19 May 2022.
NN Group obtains EC competition clearance to acquire MetLife’s businesses in Poland and Greece
Today NN Group announces that it has obtained competition clearance from the European Commission to acquire MetLife’s business activities in Poland and Greece. The intended acquisition was announced on 5 July 2021.
The acquisition will strengthen NN’s current leading positions in life and pensions in Poland, and create the number one life insurance company in Greece.
In addition to today’s competition clearance, and as part of the customary closing conditions to the transaction, NN Group is seeking to obtain clearance from both the Polish and Greek regulatory authorities. Given the separate regulatory clearance processes, the completion of the acquisitions of the Polish and Greek MetLife companies may occur at different dates. Both acquisitions are anticipated to be completed in the first half of 2022.
Annemiek van Melick to succeed Delfin Rueda as CFO of NN Group
NN Group announces that its Supervisory Board intends to appoint Annemiek van Melick as Chief Financial Officer (CFO) and vice-chair of the Executive Board of NN Group for a term of four years.
The appointment of Annemiek van Melick is subject to approval of the Dutch Central Bank and, if approved, will be effective as of 1 July 2022, after notification to the General Meeting of NN Group at the annual general meeting to be held on 19 May 2022 (AGM).
Annemiek van Melick will succeed Delfin Rueda who will leave NN Group as of 1 July 2022, after being CFO and vice-chair of the Executive Board of NN Group since 2014. To ensure a smooth transition, Annemiek van Melick will join NN Group on 1 June 2022 as member of the Management Board, subject to approval of the Dutch Central Bank.
Annemiek van Melick is currently member of the executive board and CFO of a.s.r. in the Netherlands. Prior to joining a.s.r. in February 2020, she served as CFO of de Volksbank from 2014 to 2019. From 2012 to 2014 she was Chief Financial & Risk Officer of SNS Retail Bank, and Director of Corporate Strategy and M&A at SNS REAAL from 2008 to 2012. After graduating, she started her career in investment banking in London.
David Cole, chair of the NN Group Supervisory Board: ‘We are pleased to have found a strong successor for Delfin Rueda. Annemiek van Melick joins NN Group with extensive executive experience in the financial industry, and is well-placed to help drive our strategy in the years to come. At the same time, we are extremely grateful for Delfin’s commitment to NN Group over many years. During his ten years at NN Group and its predecessor ING Insurance Eurasia, Delfin has played an instrumental role in shaping NN Group’s strategy and in transforming the company into the strong international player that it is today. With his focus on NN Group’s robust financial and risk profile, Delfin played a key role in the IPO of the company in 2014, the implementation of Solvency II, and several acquisitions and divestments which further strengthened the company’s footprint. On behalf of the Supervisory Board, the Management Board and all NN Group employees, I want to thank Delfin for his valuable contribution and continuous dedication to the company.’
Delfin Rueda: ‘It has been an honour and pleasure to be the CFO of NN Group during a period of transition and growth. I very much enjoyed working with many inspirational teams and being part of our company’s journey. I would like to thank my many colleagues, both in the Management Board and throughout our organisation in all our different markets, for the great cooperation over the years.’
The Central Works Council of NN Group has been asked for advice on the intended appointment.
Further information will be included in the AGM convocation, which will be available on 6 April 2022 at www.nn‐group.com.
NN Group: Νέα οικονομική διευθύντρια από την 1η Ιουλίου η Annemiek van Melick
Την Annemiek van Melick ανακοίνωσε ότι διόρισε ως οικονομική διευθύντρια η NN Group, αντικαθιστώντας τον Delfin Rueda, ο οποίος φεύγει από την εταιρεία την 1η Ιουλίου.
Η ολλανδική εταιρειών ασφαλειών και διαχείρισης asset δήλωσε ότι ο διορισμός της Annemiek van Melick υπόκειται στις εγκρίσεις των αρχών και θα έχει τον ρόλο αυτόν για τέσσερα χρόνια.
Η van Melick είναι αυτή τη στιγμή μέλος του εκτελεστικού συμβουλίου και οικονομική διευθύντρια της a.s.r. στην Ολλανδία.
NN Group and Goldman Sachs reach agreement on the sale of NN IP
NN Group announces that it has reached an agreement to sell its asset manager NN Investment Partners (NN IP) to Goldman Sachs Group, Inc. for total cash proceeds of EUR 1.7 billion, consisting of a base purchase price of EUR 1,515 million, a ticking fee and excess capital to be distributed in the form of a dividend before completion. As part of the agreement, NN Group and Goldman Sachs Asset Management will enter into a ten-year strategic partnership under which the combined company will continue to provide asset management services to NN Group.
David Knibbe, CEO of NN Group: ‘NN Group and NN IP have a long-standing and successful shared history. We value this strong and constructive relationship that we have and we look forward to further building on it in a new form. This transaction brings together two international asset managers, each with many decades of investment experience. We have found a strong and professional partner in Goldman Sachs, providing an environment in which our NN IP colleagues can continue to thrive, while the combined investment expertise and scale will enhance the service offering to NN IP’s clients, including NN Group. This transaction will also give NN Group greater optionality to develop a broader range of asset management propositions for our customers. Our approach and ambitions around ESG will remain unchanged and Goldman Sachs shares our commitment to responsible investing. On behalf of the Management Board of NN Group, I would like to thank our colleagues at NN IP for their drive, commitment and continuing focus on clients.’
David Solomon, Chairman and CEO of Goldman Sachs: ‘This acquisition allows us to accelerate our growth strategy and broaden our asset management platform. NN Investment Partners offers a leading European client franchise and an extension of our strength in insurance asset management. Across NN Investment Partners’ offerings they have been successful in integrating sustainability which mirrors our own level of ambition to put responsible investing and stewardship at the heart of our business. We look forward to partnering with the team at NN Investment Partners as we focus on delivering long-term value to our clients and our shareholders.’
As of today, Satish Bapat will step down from his role as a member of the Management Board of NN Group. Satish will continue to lead NN IP in his role as CEO.
At closing, the transaction is expected to have a positive impact on the NN Group Solvency II ratio of approximately 17%-points. Following the closing of this transaction, NN Group expects to have excess capital which will be available for additional returns to shareholders over time unless used for value-creating opportunities, in accordance with NN Group’s capital framework. We expect to make announcements on the additional returns to shareholders at the publication of the second half-year 2021 results. Considering this transaction, the acquisitions announced earlier this year, as well as the strong financial and commercial performance across the business units, NN Group’s operating capital generation (OCG) target remains unchanged at EUR 1.5 billion in 2023.
Closing of the transaction is subject to customary conditions, including obtaining the necessary regulatory and competition clearances and consultation of the NN IP works council in the Netherlands, and is expected to take place by the first quarter of 2022.
NN Group announces agreement to acquire a majority stake in Dutch insurance broker Heinenoord
NN Group (NN) has announced it has reached an agreement with Qmulus Invest B.V. and AS Holding B.V. to acquire a 70% stake in insurance broker and service provider Heinenoord, for a total consideration of EUR 176 million. In addition, NN will refinance the outstanding debt granted to Heinenoord for an amount of EUR 129 million. The agreement includes an option structure to acquire the remaining 30% of shares by NN within four years, following the closing of the transaction.
Heinenoord is one of the largest insurance brokers and service providers in the Dutch insurance market, offering amongst others policy administration, underwriting services and claims handling. The company is growing rapidly in both revenues and margin, and is active as a broker and mandated agent for a wide variety of non-life insurance products and insurers, servicing both the SME and retail market. Heinenoord is also a service provider for an extensive network of around 500 independent brokers. The company’s contribution to NN’s operating capital generation is expected to be approximately EUR 25 million per annum in 2023 and is expected to grow significantly in the coming years.
David Knibbe, CEO NN Group: ‘NN strongly believes in the future of the intermediary advisory market and the added value that broker advice has for customers. The vast majority of non-life distribution goes through the broker channel. The insurance market is rapidly changing with new customer propositions, consolidation in distribution, digitalisation, and the growing importance of mandated agents and service providers, which offer a broad range of insurance services. As Heinenoord plays an active role in the value chain between customers, traditional brokers and insurance companies, this acquisition will strengthen our distribution capabilities, and reinforce our leading position in the Dutch non-life market. NN is committed to continuing Heinenoord’s successful strategy to grow to a top 5 position in the Netherlands. Heinenoord will retain its independent position as a broker, and will remain dedicated to servicing its long-standing customer relationships and partnerships.’
At closing, NN will recognise a financial liability of approximately EUR 85 million in connection with the optional acquisition of the remaining 30% of shares. The transaction, including the option on the remaining shares, will have an expected negative impact on the NN Group Solvency II ratio of approximately 4%- points. The transaction has an envisaged high single digit return on investment, and will be funded from existing cash resources. NN’s dividend policy and share buyback programme will not be affected.
The acquisition is subject to regulatory and antitrust approvals and is expected to close at the end of 2021.