NN Group: posts quarterly loss, but capital plans reassure

(CercleFinance.com) - Dutch insurer NN Group has posted a fourth-quarter net loss on Thursday as the Dutch insurer booked a charge for goodwill impairment, stemming from the takeover of smaller rival Delta Lloyd.


The loss reached 533 million euros, compared with a profit of 700 million euros a year ago.

However, NN said that its balance sheet remained strong in the quarter, with a Solvency II ratio of 230%, after deducting dividend and a cash capital position of over 2 billion euros.

The group plans to propose a 2018 final dividend of 1.24 euro per ordinary share. Together with the interim dividend paid in September 2018, this brings the full-year 2018 dividend to 1.90 euro, up 14.5% compared with 2017.

Today the group also announced a program to buy back up to 500 million euros of its own shares over a period of 12 months.

The market appreciated this news, with NN Group shares currently trading up 1.5% on Euronext Amsterdam.

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