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Vendor appellation : Oracle
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Oracle Accounting Hub Cloud Service 2018 Implementation Essentials book

NN community stories 4Q18 and 2018 results | 1Z0-1019 Dumps and real test Questions with VCE practice Test

February 14, 2019 01:01 ET | source: ING insurance Eurasia N.V

Solvency II ratio 230%, ultimate dividend and share buyback announced

  • 4Q18 operating outcomes of the ongoing company of EUR 343 million, greatly reliable versus 4Q17 reflecting greater effects at Netherlands existence, Netherlands Non-lifestyles, coverage Europe and Japan existence, offset via lower outcomes on the aspect different and Asset administration
  • Full-yr 2018 operating result of the ongoing company of EUR 1,626 million, up 3% from 2017
  • net result EUR -533 million in 4Q18 versus EUR 700 million in 4Q17, reflecting the goodwill impairment because of the growth of the integration of NN life and Delta Lloyd life (as announced on 13 December 2018) and diminish non-operating items
  • Full-year 2018 net result of EUR 1,117 million versus EUR 2,a hundred and ten million in 2017
  • extra cost savings of EUR 20 million in 4Q18, bringing total cost rate reductions to EUR 289 million versus the full-12 months 2016 administrative cost base
  • APE on the coverage agencies up 8.1% at regular currencies in comparison with 4Q17. Full-12 months 2018 cost of new enterprise (VNB) of EUR 391 million, up 13.four% from 2017
  • 2018 closing dividend concept of EUR 1.24 per middling share, bringing the total-12 months 2018 dividend to EUR 1.ninety per typical share, or approximately EUR 637 million in total, up 14.5% compared with 2017
  • Solvency II ratio of 230% reflects adjustments in the corporate tax rate in the Netherlands, the beget an result on of the closing dividend and the termination of the warrant contract in addition to negative fairness revaluations, partly offset via the growth of the Partial interior model and operating capital technology
  • keeping enterprise cash capital improved to EUR 2,005 million, reflecting internet dividends from subsidiaries partly offset via shares repurchased within the fourth quarter of 2018 and the termination of the warrant agreement with ING Groep
  • Share buyback programme as much as EUR 500 million over one year, anticipated to commence on 1 March 2019 
  • observation of Lard Friese, CEO

    '2018 changed into a a hit yr for their business. They additional bolstered their market space and reached a number of essential milestones in the integration procedure of Delta Lloyd's asset management, banking and the Dutch and Belgium assurance agencies. They received approval from the Dutch primary pecuniary institution (DNB) to extend their Partial interior model to encompass the Delta Lloyd lifestyles and Non-existence entities in the Netherlands, and they merged Delta Lloyd life and Non-lifestyles into NN existence and Non-life on 1 January 2019. within the Netherlands and Belgium, we've completed total can freight track downs up to now of EUR 289 million in comparison with the complete-yr 2016 administrative cost base. they beget further integrated groups, techniques and processes, multiplied effectivity, and delivered new items and services to fullfil their customers' wants. The rebranding of Delta Lloyd's products and functions to Nationale-Nederlanden is essentially comprehensive.

    The 2018 working result become up 3% in comparison with 2017, pushed via stronger performance at Netherlands lifestyles, Netherlands Non-existence and insurance Europe, while at the equal time Japan existence, their asset supervisor and the reinsurance company faced some headwinds.

    commercial momentum endured, supported by means of an superior product combine that drove a 19.6% raise in the value of new company in Europe and a ten.three% raise in Japan in 2018 in comparison with 2017. New sales in 2018 had been down compared with 2017, as pension contracts in the Netherlands don't look to breathe renewed each yr and in 2018 they saw a lessen extent of pension contracts arising for renewal.

    in keeping with their objective to obtain cost introduction and ecocnomic growth, they achieved the acquisition of Aegon's lifestyles coverage traffic in the Czech Republic and its existence coverage and pension businesses in Slovakia in January 2019.

    Our steadiness sheet remained robust in the fourth quarter, with a Solvency II ratio of 230% after deducting the ultimate dividend, and a money capital position of EUR 2,005 million. they can imply a 2018 ultimate dividend of EUR 1.24 per typical share at their Annual well-known meeting of Shareholders on 29 may additionally 2019. in conjunction with the interim dividend paid in September 2018, this brings the total-yr 2018 dividend per measure share to EUR 1.90, up 14.5% compared with 2017 and represents a pay-out ratio of fifty% of the entire-yr 2018 internet working result of the ongoing company. this is in keeping with their goal for a double-digit boost in the dividend per share in 2018.

    we are nowadays motto a programme to buy returned shares as much as EUR 500 million over a length of three hundred and sixty five days. This underlines their disciplined capital administration as well as their dedication to returning excess capital to shareholders. on the identical time, they respect it's primary to hold a robust capital position and the pecuniary flexibility to breathe able to pursue alternatives to enhance their company extra and to create extra value.

    We once more took steps to integrate Environmental, gregarious and Governance (ESG) considerations into their investment strategies. in addition, NN community accelerated its ranking within the Sustainalytics ranking and now ranks amongst the leaders within the sector. In January 2019, NN neighborhood become protected in the Bloomberg Gender Equality Index. This index highlights 230 corporations which are committed to transparency in office gender reporting.

    All these achievements don't beget been feasible without the dedication and efforts of their personnel and traffic partners. They proceed to focal point on their key priorities to successfully integrate Delta Lloyd, extra extend performance, accelerate the transformation of the traffic model, and to allocate capital rationally. i am confident that the traffic is smartly-located to carry on their priorities going forward.'

    NN group key figures

    In EUR million 4Q18 4Q17 amendmentFY18 FY17 trade               operating outcomes ongoing business1) 343 345 -0.7% 1,626 1,586 2.5% net outcome -533 700   1,117 2,one hundred ten -47.1%                 4Q18 3Q18 4Q17       Solvency II ratio2) 230% 239% 199%      

    word: each and every footnotes are covered on web page 29

    strategy and priorities

    Our companies are developed on a high-quality foundation of aim, values and manufacturer attributes, which, mixed with a powerful focal point on their strategic priorities, allows for us to create long-term price. here's how they carry on their ambition to breathe a corporation that actually concerns within the lives of their stakeholders.

    Netherlands

    in the Netherlands, new pension customers are choosing NN for its eye-catching items, the pleasant of carrier, and the fiscal situations. for instance, A.S. Watson transferred its pension plans to NN existence and BeFrank as of January 2019. Interfood, a global dairy company, additionally chosen NN existence to manage its pension plan.

    In November, NN bank extended its loan product purview by course of launching the 'buy-to-Let' personal loan, principally designed for financing residential property for private letting.

    NN goals to conform its company to altering market dynamics, and normally appears for brand spanking new how you can meet consumers' needs. In January 2019, Nationale-Nederlanden, at the side of a few third parties, launched ultimate Day cybersecurity. impeccable Day, an initiative from the innovation centre Sparklab, focuses solely on SMEs. It includes a brand new provider that offers functional insights (for instance on vulnerability of websites, protection of customer tips or susceptible passwords), gives concrete options, and makes cybersecurity not pricey.

    We continue to explore options to build partnerships, and invest in expertise and analytics so one can champion us to Strengthen their providing. according to this strategy, NN group has entered right into a partnership with Crunchr, a immature traffic that develops and offers cloud solutions for workforce analytics. Its items and capabilities enable companies to invent group of workers decisions the consume of statistics and analytics. It moreover presents tooling for worker surveys. by using adding the Crunchr items to its providing, NN will supply a boost to its space as a company companion.

    The products of ABN AMRO Verzekeringen beget been known through a considerable number of organisations for his or her lofty fine. The company additionally got an award for gold measure insurer through the Dutch journal management crew, and changed into given five stars by course of MoneyView. moreover, OHRA received a bronze EFFIE, a respected communique award in the Netherlands, for its campaign 'Mobiel Verzekeren'. This yr OHRA changed into awarded for its a success crusade 'Rob and Els', which met the set ambitions in terms of cognizance, angle and behavior.

    Movir, which offers individual disability insurance to self-employed laborers in the Netherlands, was awarded the title of most reliable profits insurer by using the association of unbiased economic advisors, Adfiz. Movir additionally ranked first within the class 'premiere colleague claims managing'.

    foreign assurance

    NN's international assurance businesses are increasing their portfolio of protection items and delivered a couple of new propositions in a considerable number of markets. as an example, Nationale-Nederlanden in Spain launched a new life assurance protection product, 'Contigo Familia', protecting loss of life, disability and illness, with discrete modular alternatives tailor-made to a customer's profile and that of his or her family. purchasers beget 24/7 access to medical certified through a fitness app referred to as 'assembly medical doctors'.

    NN lifestyles Japan continues to extend new business-Owned life insurance (COLI) items, and expands and diversifies its distribution within the increasingly competitive market, with a focus on value over volume. COLI sales through Sumitomo lifestyles accounted for 11% of NN lifestyles Japan's total revenue in 2018. Sumitomo lifestyles brokers started providing NN life Japan's accelerated animate incapacity improvement and extending term products in April 2017, and its vital ailment insurance as of April 2018. the brand new COLI product brought in November 2018 provides insurance to enterprise house owners in the event of unexpected accidents, the want for nursing custody or disability. income carried out smartly within the terminal two months of 2018.

    NN Turkey launched a modular, flexible and ingenious life insurance procedure product in November. The product helps purchasers throughout the diverse levels in lifestyles, with its advantages adapting to meet a client's changing needs. NN Turkey moreover launched 'e-NN', the company's first on-line income platform offering three products: life, well-known ailment and personal accident coverage tips services. It aims to expand the product latitude within the near future.

    In 2018, overseas insurance set up a centre of excellence, 'NN data Science Hub', to supply a boost to analytics capabilities and hasten up information-pushed transformation. At NN, analytics is used to extend techniques during the cost chain: from product construction to marketing and sales, from risk assessment and underwriting to claims management. as an instance, the Hub launched a pilot for a climate alert gadget for home assurance shoppers in Spain. When the reliable Spanish weather forecast website expects unsafe weather, an alert should breathe despatched to valued clientele so they can win acceptable measures to avoid any damages to their properties.

    As a economic functions enterprise dynamic in 18 nations, they operate within discrete regulatory environments. In Romania, where NN is market chief in life and pensions, the government permitted sizable changes to the second pension pillar in December 2018. These changes are being closely studied by using NN and may affect the fundamentals of the 2nd pension pillar device in Romania.

    Asset management

    NN investment companions (NN IP) achieved the mixing of Delta Lloyd Asset management (DLAM) in the 2nd quarter of 2018. With the purpose to enhanced leverage on present capabilities and hasten up determination-making, in November, NN IP introduced its end to consolidate the Luxembourg administration company, NN funding companions Luxembourg S.A., with NN investment partners B.V., the Dutch licensed entity.

    NN IP goals to set up and boost partnerships for distributing its items and solutions. within the fourth quarter of 2018, it reached an contract to toughen the lengthy-term partnership with ING bank Slaski in Poland. under this settlement, ING bank Slaski will purchase a 45% stake in NN IP in Poland, and dispense NN IP funding money to the Polish retail market through its huge department community. In Japan, in conjunction with Rakuten Securities it introduced the launch of a new investment service, which makes it feasible to deliver a personalized goal-yr investment avow for retail customers. the primary items and options through NN IP's partnership with Irish lifestyles investment management were launched.

    NN IP considers ESG analyses each and every over the entire investment manner. The NN (L) Euro eco-friendly Bond Fund has grown into some of the world's greatest eco-friendly bond cash, crossing an AuM of EUR 570 million. in the fourth quarter of 2018, NN IP launched the NN (L) European Sustainable Infrastructure Debt Fund, in keeping with growing investor demand for top attribute infrastructure debt investments with fabulous and predictable cash flows, generated from property that invent contributions to a greater sustainable future.

    In its latest update, Morningstar awarded superstar Fund, the third pillar Belgian pension fund managed through NN IP Belgium, four Morningstar Globes. The fund moreover looks in the 14th percentile in terms of sustainability in the class "Allocation EUR flexible", making it the most desirable-ranked Belgian third pillar pension fund disbursed in Belgium.

    different hobbies

    In November 2018, NN community turned into recognised with the basic fifth space within the 2018 Tax Transparency Benchmark. This eye at is commissioned by using the Dutch affiliation of buyers for Sustainable construction (VBDO), and ranks 76 Dutch listed companies on their stage of transparency related to their tax system and implementation.

    For the fourth consecutive yr, NN community more suitable its score within the world real property Sustainability Benchmark (GRESB), outperforming nearly each and every of the 850 GRESB participants. within the 2018 evaluation, NN community investments in inner most loyal estate received an superior rating of 80 (on a scale of 1 to one hundred) in opposition t a valuable benchmark regular of sixty six. The portfolio maintained four stars out of 5 within the 2018 ranking. The GRESB is a number one global regular for assessing actual estate's environmental, gregarious and governance (ESG) performance, together with efficiency warning signs reminiscent of energy, greenhouse gas emissions, water and waste.

    NN community Profile

    NN neighborhood is an international economic services company, dynamic in 18 countries, with a powerful presence in a couple of European nations and Japan. With each and every its personnel, the neighborhood gives retirement functions, pensions, coverage, investments and banking to approximately 17 million consumers. NN group comprises Nationale-Nederlanden, NN, Delta Lloyd, NN funding partners, ABN AMRO assurance, Movir, AZL, BeFrank and OHRA. NN community is listed on Euronext Amsterdam (NN).

    Analyst and investor name

    Lard Friese and Delfin Rueda will host an analyst and investor conference muster to talk about the 4Q18 consequences at 10.30 am CET on Thursday 14 February 2019. members of the investment group can breathe a fragment of the convention appellation at +31 20 531 5865    (NL), +forty four 203 365 3210    (UK), +1 866 349 6093    (US) or celebrate the webcast on www.nn-neighborhood.com/traders.

    Press call

    Lard Friese and Delfin Rueda will host a press muster to focus on the 4Q18 effects, which may breathe held at 07.45 am CET on Thursday 14 February 2019. Journalists can combine the clicking muster at +31 20 531 5863    (NL).

    monetary calendar

    publication 1Q19 consequences: 16 might moreover 2019 Annual conventional meeting: 29 may 2019   ebook 2Q19 effects: 15 August 2019 book 3Q19 consequences: 14 November 2019

    Contact assistance

    Press enquiries

    Media members of the family+31 70 513 1918   mediarelations@nn-group.com

      Investor enquiries

    Investor relations+31 88 663 5464   investor.relations@nn-neighborhood.com

    more information on www.nn-neighborhood.com

  • NN community 4Q18 pecuniary supplement, NN community 4Q18 Analyst Presentation
  • photos of NN neighborhood executives, buildings and events are available for obtain at Flickr
  • essential legal assistance

    elements of this press liberate comprise or might moreover accommodate guidance about NN community N.V. within the which means of Article 7(1) to (4) of ecu regulation No 596/ 2014 (Market misuse regulation). NN community's Consolidated Annual money owed are organized in accordance with overseas pecuniary Reporting necessities as adopted by the european Union ("IFRS-ecu") and with fragment 9 of ebook 2 of the Dutch Civil Code. In getting ready the economic counsel in this document, the identical accounting principles are applied as in the NN neighborhood N.V. Condensed consolidated intervening time bills for the period ended 30 September 2018. The Annual bills for 2018 are in evolution and can breathe discipline to changes from subsequent events.

    All figures during this document are unaudited. little modifications are feasible within the tables as a result of rounding. inescapable of the statements contained herein aren't ancient facts, together with, without obstacle, determined statements made from future expectations and different forward-searching statements which are in line with management's existing views and assumptions and accommodate time-honored and unknown dangers and uncertainties that may trigger precise outcomes, performance or hobbies to vary materially from those expressed or implied in such statements. actual effects, efficiency or pursuits may additionally purview materially from those in such statements because of, with out challenge: (1) adjustments in established pecuniary situations, in particular economic situations in NN community's core markets, (2) changes in efficiency of pecuniary markets, including setting up markets, (three) consequences of a potential (partial) break-up of the euro or European Union countries leaving the european Union, (4) adjustments in the availability of, and costs linked to, sources of liquidity as well as conditions within the credit score markets often, (5) the frequency and severity of insured loss activities, (6) adjustments affecting mortality and morbidity degrees and tendencies, (7) adjustments affecting persistency tiers, (eight) changes affecting hobby cost stages, (9) changes affecting forex alternate charges, (10) alterations in investor, consumer and policyholder behaviour, (eleven) changes in habitual competitive components, (12) adjustments in laws and rules and the interpretation and application thereof, (13) alterations in the guidelines and movements of governments and/or regulatory authorities, (14) conclusions in regards to accounting assumptions and methodologies, (15) changes in ownership that may beget an result on the future availability to NN community of net working loss, internet capital and developed-in loss rear forwards, (16) adjustments in credit score and fiscal energy rankings, (17) NN group's skill to achieve projected operational synergies, (18) catastrophes and terrorist-linked movements, (19) adversarial developments in prison and other proceedings and (20) the other dangers and uncertainties contained in fresh public disclosures made via NN community.

    Any forward-looking statements made by course of or on behalf of NN group talk simplest as of the date they are made, and, NN neighborhood assumes no duty to publicly replace or revise any ahead-looking statements, whether because of new suggestions or for any other cause.This document doesn't constitute an offer to promote, or a solicitation of a suggestion to buy, any securities.


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