NN Group News

Banks Have Unfair Edge Over Insurers in M&A Race: NN CEO Says

A top European insurance executive slammed a piece of regulation that has emerged as key driver behind a recent slate of asset management acquisitions by banks. The rule known as Danish Compromise gives the region’s lenders “an advantage” when buying …

Dutch Willing to Help Insurers Invest in Defense, Minister Says

Dutch insurance companies and other financial institutions that want to invest in the defense industry can expect guidance from the government, said Defense Minister Ruben Brekelmans. “What I’ve experienced so far with insurers like NN, but also with banks, is …

Highlighting Exxon Suit, Investors Urge Firms to Keep Shareholder Spats Out of Court

A group of around 40 large European and American institutional investors on Tuesday urged companies to refrain from taking shareholders to court over disagreements relating to their proposals. The group, which represents $4.8 trillion in assets under management, highlighted the …

Generali CEO Says Insurer Has Financial Strength for M&A Deals

Italian insurance giant Assicurazioni Generali SpA has the financial means for acquisitions that fit its template for value creation, according to Chief Executive Officer Philippe Donnet. “We are considering very strict discipline for M&A which allows value creation,” Donnet said …

Generali CEO’s Strategic Wishlist Includes €10 Billion Deals

Assicurazioni Generali SpA is analyzing a range of potential takeover candidates as part of the insurer’s growth plans, with some of them worth more than €10 billion ($10.9 billion), according to people familiar with the matter. The Italian insurer would …

Dutch Insurer NN Says Extreme Weather May Make Further Premium Hikes Unavoidable

Dutch insurer NN Group NV may increase premiums further as extreme weather patterns become more prevalent, Chief Executive Officer David Knibbe said. While NN benefited from benign weather conditions in the first half of the year, the July storm in …

Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims

NN Group’s core profit fell 12.1% year-on-year in the first half of 2022, the Dutch insurer said on Thursday, citing the impact of weather events and the sale of its asset management arm. Operating profit came in at 983 million …

Dutch Insurer NN Group Expects to Accelerate Exit From Coal Investments

DAVOS, Switzerland – NN Group NV expects to accelerate its deadline to exit coal investments, now set at 2030, due to fears about Europe reverting to burning the fossil fuel, the Dutch insurer’s CEO David Knibbe said on the sidelines …

Financial Services Firms Face Disclosure Requirements for Biodiversity Investments

DAVOS, Switzerland – Financial firms already struggling with climate-compliance due to unclear measurement metrics will soon face new disclosure requirements for biodiversity, or nature-related, investments. “Nature is a financial risk for business,” Elizabeth Mrema, co-chair of the Taskforce on Nature-related …

Goldman Sachs to Buy Asset Management Arm of Insurer NN Group for Nearly $2B

AMSTERDAM – Goldman Sachs said on Thursday it will buy Dutch insurer NN Group’s asset management arm for around 1.7 billion euros ($1.98 billion) in the biggest acquisition by the U.S. company since David Solomon became chief executive in 2018. …