Dear Copiers,
$NN.NV (NN Group NV) delivered with satisfactory earnings report showing solid increases overall for their first half of 2024. International business is slightly above expectations where the European insurance segment reflects NN Groups push into higher margin protection products. The steady and boring industry of insurance and pension products is performing well and deserves a spot in the portfolio.
- Free cash flow is up 8% YoY.
- Capital return policy to have a progressive dividend per share.
- Annual share buyback of at least EUR 300 mio.
- Positive trend in customer satisfaction scores.
- Continued growth in Europe particularly in new business markets.
In Scandinavia Finnish $SAMPO.HE (Sampo Oyj A) recently acquired Danish Topdanmark one of the largest insurance corporations in the country. The large purchase confirms a year long interest from Sampo, having been a large investor of the company before making the move to fully acquire the Danish insurance giant.
$SCR.PA (Scor SE)$AGN.NV (Aegon Ltd)$AEG (Aegon Ltd)$AV.L (Aviva)$ABDN.L (abrdn PLC)... Show More
