SFCR 2023: NN Group solvency ratio unchanged

NN Group published its 2023 SFCR earlier than the official publication date for groups (19 May). It is one of the few groups, alongside a handful of solo entities, releasing their 2023 Solvency II public disclosures early.

NN Group SCR ratio unchanged in 2023

The group’s SCR ratio remains unchanged from last year at 197%, which is the lowest it has been since the first publication in 2016 (241%).

Over the period the ratio fluctuated peaking at 230% in 2018. The chart below shows the SCR ratio drivers over the entire period.

NN Group drivers of SCR ratio 2016 2023
Source: Solvency II Wire Data

The main SCR ratio driver in 2018 was a 9% increase in Eligible Own Funds (EOF) and a 6% drop in the Solvency Capital Ratio (SCR).

Eligible own funds

NN Group reported EOF of EUR 17, 691 million, an increase of 35% since 2016. The group reported an increase in both tier 2 and tier 3 EOF (see chart below)

NN Group eligible own funds 2016 2023_

The group did not use any of the new QRT templates and reported partial internal model information in template S.25.02.

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Solvency II Wire Data Company View displaying one-click historic values.