NN Group reports FY 2020 operating result of EUR 1.9 billion

22 February 2021 — Andrei Victor
Dutch NN Group announced its operating result increased to EUR 963 million in H2 2020 from EUR 881 millionthe previous year, mainly driven by "a higher investment margin and lower administrative expenses at Netherlands Life".

At the same time, full-year 2020 operating result increased 5.3% y-o-y to EUR 1,889 million. Net result increased to EUR 1,317 million from EUR 844 million in the second half of 2019, while FY2020 net result was EUR 1,904 million versus EUR 1,962 million in 2019.

NN Group representatives mentioned value of new business increased 17.9% to EUR 144 million in the second half of 2020, mainly driven by the recovery in sales of COLI products in Japan Life.

The insurer mentioned, the impact of Covid-19 pandemic on operating resulet amounted EUR 23 million in the second half of 2020, bringing the full-year 2020 impact to EUR 53 million.

NN Group informed 2020 final dividend proposal of EUR 1.47 per ordinary share or approximately EUR 456 million, bringing the pro forma total 2020 dividend to EUR 2.33 per ordinary share, up 7.9% on 2019).

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