NN Group 2025 shows the Dutch group’s solvency ratio under Solvency II has risen to 220% (194% 2024), the second highest since records began in 2016.
The increase in the ratio is mostly due to a boost in the group’s eligible own funds to meet the SCR. EOF stand at EUR 19,271 million at 31 December 2025, up from EUR 17,026 million last year.
According to the SFCR: “The increase was mainly driven by operating capital generation, positive market
impacts and the impact of a non-available own funds methodology update, partly offset by capital flows to shareholders. Market impacts mainly reflect movements in interest rates and spreads on government bonds and mortgages, partly offset by negative equity variance.”
