One of the financial twins in my portfolio published it's figures this week, and i'm more than happy. Dividend is raised even more then I expected and a solid solvency ratio. See a short recap of the figures below.
$NN (-3,58 %) – Full Year 2025 Results (Published February 12, 2026)
NN Group delivered strong full-year 2025 financial performance, exceeding expectations on capital generation, solvency, dividend, and shareholder returns.
Key Financial Figures – FY 2025
• Operating Capital Generation: €2.09 billion (above the €2.00bn consensus). �
• Solvency II Ratio: 220 %, significantly above market expectations (~212 %). �
• Net Free Cash Flow: €1.62 billion, in line with expectations. �
• Cash Capital at Holding Company: €1.84 billion, slightly above forecasts. �
Business Segment Highlights
• Netherlands Life: €1.19 billion operating capital (vs. ~€1.13bn expected).
• Netherlands Non-Life: €442 million (vs. ~€415m expected).
• Insurance Europe: €520 million (vs. ~€500m expected).
• Non-Life Gross Written Premiums: +6 % growth, exceeding €4 billion.
• New Business Value Growth: +16 % in Insurance Europe; +25 % in Japan Life.
Dividend & Shareholder Returns
• Dividend per share: €3.88 (a 12.8 % increase vs €3.44 in 2024, and above expectations of €3.70).
• Share Buyback: €350 million annual program aligned with guidance.
• Strong ongoing capital returns acknowledged by investors.
Additional Highlights
• NN Group met or exceeded its operational capital generation target for the year.
• Free cash flow remained robust at ~€1.6bn, supporting dividend and buybacks.
• Solvency metrics and capital strength were better than expected, reinforcing financial resilience.
• Growth in international markets (Europe & Japan) contributed strongly to new business value.
Market Reaction
NN Group’s share price reacted positively following the results, reflecting investor confidence in the company’s strong capital position and enhanced shareholder returns.