Kepler Chevreux cuts NN Group to 'reduce' on low capital ratio

NN

15/01/2025 08:35

** Kepler Chevreux downgrades Dutch insurer NN Group  NN.AS 
to "reduce" from "hold" citing a "too low capital ratio"
    ** The broker sees a 1.2 billion euro ($1.24 billion)
shortfall in the Dutch life subsidiary's Solvency II (SII) ratio
    ** "With mortgage rates close to normalised levels at
end-2024, we think the SII ratio is lower than our initial
estimate," Kepler says
    ** It estimates the group's SII ratio at 182% for 2024
    ** The NN Group shares are down 1.1%, at the bottom of
Amsterdam's AEX index  .AEX 
    ** Out of 18 analysts that cover the stock, ten rate it
"strong buy" or "buy", ​seven "hold" and one "sell"

($1 = 0.9708 euros)

 (Reporting by Dimitri Rhodes)
 ((Dimitri.rhodes@thomsonreuters.com))