NN N : AGM 2024 full presentation, incl. voting results
May 24, 2024 at 06:44 pm IST
Share
Annual general meeting
NN Group N.V.
24 May 2024
Agenda item 1
Opening
2
Issued shares and voting rights
On Record Date, 26 April 2024, the issued capital of NN Group consisted of 285 million ordinary shares
No votes can be cast on 11,864,297 ordinary shares as those shares were held by NN Group on Record Date
Consequently, a total of 273,135,703 votes are eligible for casting
3
Voting instructions
To participate, please go to
web.lumiagm.com
Fill in the meeting ID: 168-254-177, your username and password
4
Agenda item 2
2023 Annual Report
5
Our operating environment
Geopolitical tensions
Unit-linked
Digital customer experience
Protection products
Customer satisfaction
Climate change
6
Customers, employees and our contribution to society
NPS Int
NPS international businesses above market average
Below
On par
Above
average
average
NPS NL
NPS Netherlands businesses on par market average
Below
On par
Above
average
average
7.810.8bn
Employee engagement
Investments in climate
solutions in 2023
31 Dec 23
7.8
EUR 10.8bn
31 Dec 22
7.9
40%
401K
Women in senior management positions
People reached via NN programmes
to support their well-being
31 dec 23
40%
401K
31 dec 22
40%
7
Our roadmap to net-zero greenhouse gas emissions (GHG)
8
Final settlement for the unit-linked issue achieved
Deal terms
NN reached a settlement with all interest groups involved in legal proceedings against NN with respect to unit-linked products
Settlement relates to all unit-linked products sold by Dutch subsidiaries of NN Group
All legal proceedings initiated by the interest groups will be discontinued once the settlement is executed1
Settlement is subject to a 90% acceptance rate of affiliated policyholders that have received an individual proposal for compensation
Financial ingredients
Settlement involves EUR ~300m
A EUR ~360m provision was recognised in 4Q23 to cover the settlement costs
Includes EUR 60m2 for hardship cases and customers unaffiliated with one of the interest groups who have not previously received compensation
Settlement follows earlier measures adopted by NN, including previous compensation rounds, of EUR ~1bn
Residual risk significantly mitigated
No new proceedings can be initiated by involved interest groups and their representatives
Unaffiliated customers may seek compensation via NN desk, or new proceedings before Kifid or Dutch courts
Residual risk is considered limited given a.o. considerable measures taken over time to compensate policyholders
Anticipated ultimately 30 June 2025
In addition, approximately EUR 20m is available for these customers through the remainder of a provision recognised as part of the 2008 settlement
9
Strong performance of our business
1,902m 2,528m 1,410m
Operating capital generation
Operating result
Free cash flow
FY23
EUR 1,902m
FY23
EUR 2,528m
FY23
EUR 1,410m
FY22
EUR 1,711m
FY22
EUR 2,350m
FY22
EUR 1,269m
1,172m 197%
Net result
Solvency ratio
FY23
EUR 1,172m
31 dec 23
197%
FY22
EUR 1,634m
31 dec 22
197%
10
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NN Group NV published this content on
24 May 2024 and is solely responsible for the information contained therein. Distributed by
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24 May 2024 13:13:01 UTC.
NN Group N.V. est un groupe d'assurance et de gestion de placements qui occupe des positions de premier plan dans l'assurance vie et non-vie aux Pays Bas, une forte présence dans un certain nombre d'autres marchés européens (tels que la Pologne, la Hongrie et la Roumanie) et au Japon. Les activités d'assurance de NN Group N.V. sont actives sur des marchés matures en Europe occidentale et au Japon, ainsi que sur des marchés en croissance en Europe centrale et orientale (CEE). L'activité de gestion de placements de NN Group N.V. offre ses produits et services à l'échelle mondiale, les Pays Bas étant son principal centre de gestion de placements.
NN Group N.V. offre une gamme complète de services de retraite, de pensions, d'assurances, de placements et de services bancaires à ses clients particuliers, petites et moyennes entreprises (PME), entreprises et institutions.