Picture of Aegon NV logo

AEG Aegon NV News Story

0.000.00%
us flag iconLast trade - 00:00
FinancialsAdventurousLarge CapTurnaround

BUZZ-NN Group edges down after 'slightly disappointing' results

** Shares in Dutch insurer NN Group  NN.AS  are down 4%
after it reported a decrease in H1 core profit and a Solvency II
ratio below analysts' expectations
    ** Operating profit came in at 983 million euros ($1.01
billion) in the first six months of the year, down from 1.12
billion last year but 2% above analysts' expectations according
to Credit Suisse analyst Alexander Evans  urn:newsml:reuters.com:*:nL1N2ZN08K
    ** But Morningstar describes the results as "slightly
disappointing" and says the operating profit was below its
forecasts
    ** "Expense control has not been enough to offset lower
gains on publicly traded bonds and equities," Morningstar says,
adding that higher interest rates resulted in a loss on
derivatives used for hedging
    ** Among other key metrics, NN's solvency under Europe's
Solvency II regime decreased to 196% from 213%
    ** JPMorgan says NN Group's Solvency II ratio "has fallen
below our expectations and appears weak relative to other major
insurers"
    ** Peer Aegon  AEGN.AS  is among the top gainers on
Amsterdam's AEX index  .AAX  after raising its forecasts and
posting a quarterly earnings beat

 (Reporting by Valentine Baldassari and Augusting Turpin)
 ((Valentine.baldassari@tr.com))

Recent news on Aegon NV

See all news