NN Group is a financial services company based in the Netherlands. Co. engages in insurance and investment management activities, providing life and non-life insurance products primarily in the Netherlands, Belgium, rest of Europe, and Asia. Co. offers group and individual life insurance; and motor, transport, fire, liability, travel, and income insurance. Co. also offers retirement, insurance, investments, and banking services to retail, SME, corporate, and institutional customers. Co. is active in 18 countries, with a presence predominantly in a number of European countries and Japan.
  • TickerA115DY
  • ISINNL0010773842
  • ExchangeEuronext Amsterdam
  • SectorLife Insurance
  • CountryNetherlands

Analysts

Cedric Duinslaeger ...
  • Guy Sips
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

Morning Note: GLPG NA, MDXH BB, NN NA, OXUR BB, SBMO NA, SMAR BB

Galapagos: Phase II ROCELLA trial enrolment completed MDxHealth: Clinical validation study SelectMDx published NN Group: VIVAT M&A: clean deal - slow burner - consistency Oxurion: Grant for Oncurious, THR-317 phI data presented SBM Offshore: Awarded Mero 2 LOI Smartphoto group: Sector news : Shutterfly bought by Apollo

Henry Heathfield

Morningstar | Nationale-Nederlanden Buys VIVAT Non-Life, Cheaply

Today Nationale-Nederlanden announced the acquisition of VIVAT non-life insurance for EUR 416 million. This acquisition is being used to consolidate NN’s Netherlands non-life market position. The acquisition will be funded out of NN’s EUR 8.8 billion in cash that is on its balance sheet. We think Solvency will be affected by about 5 percentage points. This still leaves the business with plenty of headroom above what we think is the critical 190 to 200 level. We maintain our EUR 48.0 fair value estimate and no-moat rating. NN is getting a business unit that made a loss of EUR 48 million in 201...

Henry Heathfield

Nationale-Nederlanden Buys VIVAT Non-Life, Cheaply

Today Nationale-Nederlanden announced the acquisition of VIVAT non-life insurance for EUR 416 million. This acquisition is being used to consolidate NN’s Netherlands non-life market position. The acquisition will be funded out of NN’s EUR 8.8 billion in cash that is on its balance sheet. We think Solvency will be affected by about 5 percentage points. This still leaves the business with plenty of headroom above what we think is the critical 190 to 200 level. We maintain our EUR 48.0 fair value e...

Alexander Makar ...
  • Jan Opdecam
  • Jason Kalamboussis
  • Joachim Vansanten
  • Thomas Couvreur
  • Wim Hoste

Morning Note: ATEB BB, AVTX NA, CPINV BB, COFB BB, DIE BB, EXM BB, NN NA, QFG BB

Atenor: Budapest CMD underpin strong growth ambitions Avantium: Going forward with smaller scale YXY plant Cofinimmo: € 8m sale of office building ‘Woluwe 102’ CP Invest: € 5.6m investment in NL D'Ieteren: Additional info on investment process EXMAR: TFLNG fully commissioned NN Group: Buying VIVAT’s Non-Life, great in more than 1 way Quest for Growth: A wacky discount of 26.7%

Henry Heathfield

Morningstar | NN Updated Forecasts and Estimates from 17 May 2019

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million on a 9-basis-point improvement to 90 basis points on reserves profitability. Both of these are quite...

Cedric Duinslaeger ...
  • Guy Sips
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

Morning Note: GLPG NA, MDXH BB, NN NA, OXUR BB, SBMO NA, SMAR BB

Galapagos: Phase II ROCELLA trial enrolment completed MDxHealth: Clinical validation study SelectMDx published NN Group: VIVAT M&A: clean deal - slow burner - consistency Oxurion: Grant for Oncurious, THR-317 phI data presented SBM Offshore: Awarded Mero 2 LOI Smartphoto group: Sector news : Shutterfly bought by Apollo

Henry Heathfield

Morningstar | Nationale-Nederlanden Buys VIVAT Non-Life, Cheaply

Today Nationale-Nederlanden announced the acquisition of VIVAT non-life insurance for EUR 416 million. This acquisition is being used to consolidate NN’s Netherlands non-life market position. The acquisition will be funded out of NN’s EUR 8.8 billion in cash that is on its balance sheet. We think Solvency will be affected by about 5 percentage points. This still leaves the business with plenty of headroom above what we think is the critical 190 to 200 level. We maintain our EUR 48.0 fair value estimate and no-moat rating. NN is getting a business unit that made a loss of EUR 48 million in 201...

Henry Heathfield

Nationale-Nederlanden Buys VIVAT Non-Life, Cheaply

Today Nationale-Nederlanden announced the acquisition of VIVAT non-life insurance for EUR 416 million. This acquisition is being used to consolidate NN’s Netherlands non-life market position. The acquisition will be funded out of NN’s EUR 8.8 billion in cash that is on its balance sheet. We think Solvency will be affected by about 5 percentage points. This still leaves the business with plenty of headroom above what we think is the critical 190 to 200 level. We maintain our EUR 48.0 fair value e...

Alexander Makar ...
  • Jan Opdecam
  • Jason Kalamboussis
  • Joachim Vansanten
  • Thomas Couvreur
  • Wim Hoste

Morning Note: ATEB BB, AVTX NA, CPINV BB, COFB BB, DIE BB, EXM BB, NN NA, QFG BB

Atenor: Budapest CMD underpin strong growth ambitions Avantium: Going forward with smaller scale YXY plant Cofinimmo: € 8m sale of office building ‘Woluwe 102’ CP Invest: € 5.6m investment in NL D'Ieteren: Additional info on investment process EXMAR: TFLNG fully commissioned NN Group: Buying VIVAT’s Non-Life, great in more than 1 way Quest for Growth: A wacky discount of 26.7%

Henry Heathfield

Morningstar | NN Updated Forecasts and Estimates from 17 May 2019

NN Group reported first-quarter operating profit of EUR 470 million, which is a little bit ahead of our estimates for the full year. There are some one-offs in here and the results are a bit of a mixed bag, but overall, we still think the market is way too pessimistic. We are maintaining our EUR 48 fair value estimate and no-moat rating. Running through the results, we think Netherlands Life looked fairly decent. The improvement in the investment margin was quite a surprise, at EUR 242 million on a 9-basis-point improvement to 90 basis points on reserves profitability. Both of these are quite...

A director sold 995 shares at 26.200EUR and

A director at Nn Group Nv sold 995 shares at 26.200EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

For NN GROUP, the environment deterioration entails a downgrade to Neutral

NN GROUP (NL), a company active in the Life Insurance industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date February 22, 2019, the closing price was EUR 37.62 and its expected value was estimated at EUR 36.76.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

NN Group - AGM 29 May 2019

In general, NN Group is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 8, the executive board seeks approval to issue contingent convertible securities (commonly known as Coco's). Although NN Group clearly justified its interest in the authority requested, the maximum number of shares potentially to be issued upon conversion (corresponding to 30% of the Company’s share capital) exceeds the threshold of 10% under ECGS’ guidelines. ECGS is furthermore somewhat uncomfortable over the duration (of 5 years) of the auth...

NN Group – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Matthieu DRIOL

Analyse court terme - NN GROUP NV : Baisse en cours.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 36,77 € pourrait relancer le mouvement haussier vers 39,51 €. La rupture de 35,60 € mettrait la tendance en danger.

Matthieu DRIOL

Short term view - NN GROUP NV : Falling.

The trend is bullish. The current fall looks like a consolidation. The support at €36.77 could cause a bullish reaction towards €39.51. The break of €35.60 would endanger the trend.

Matthieu DRIOL

Short term view - NN GROUP NV : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €36.77. A break below €35.60 would challenge the trend.

Matthieu DRIOL

Analyse court terme - NN GROUP NV : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 36,77 €. La tendance serait remise en cause par la rupture de 35,60 €.

Matthieu DRIOL

Medium term view - NN GROUP NV : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €40.00 and €43.74. The trend would be invalidated below the support at €32.99.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch