U.S. Markets closed

Edited Transcript of NN.AS earnings conference call or presentation 15-Aug-19 10:59am GMT

Q2 2019 NN Group NV Earnings Presentation (Pre-Recorded)

Sep 4, 2019 (Thomson StreetEvents) -- Edited Transcript of NN Group NV earnings conference call or presentation Thursday, August 15, 2019 at 10:59:00am GMT

TEXT version of Transcript

================================================================================

Corporate Participants

================================================================================

* Delfin Rueda Arroyo

NN Group N.V. - Vice Chairman of Executive Board & CFO

================================================================================

Presentation

--------------------------------------------------------------------------------

Delfin Rueda Arroyo, NN Group N.V. - Vice Chairman of Executive Board & CFO [1]

--------------------------------------------------------------------------------

Hello, everyone. Following our announcement this week of David Knibbe's intended appointment as CEO of NN Group, it is my pleasure as CFO to reflect on our company's second quarter results.

Our capital position remained strong. We continue to improve our performance in Netherlands Non-life, while Insurance Europe and Japan Life also showed higher results. On the other hand, this quarter, we also saw lower private equity dividends at Netherlands Life and higher claims in our reinsurance business.

An important highlight from this quarter is the announced agreement to acquire VIVAT Non-life in the Netherlands. This transaction is expected to be completed sometime in the first quarter of next year. Also, we continue to develop new products that best meet our customers' evolving needs. For example, the Smart Move offer in Greece, a growing guaranteed product that allows customers to build up a long-term investment with regular payments.

NN wants to have a positive impact on society, contribute to the transition towards a low-carbon economy and protect our environment. To achieve this, we signed a financial sector commitment to the Dutch Climate agreement. We joined forces with the social enterprise Plastic Whale to fight plastic waste. And NN Investment Partners launched a new short-duration green bond fund that contributes to the United Nations' Sustainable Development Goals.

Last month, we celebrated our fifth anniversary as a stand-alone listed company, a big milestone. Together with all colleagues, we developed our company to what it is today. We remain fully committed to provide our customers with the products and services they need to be able to secure their financial futures. Thank you.