AMSTERDAM (Reuters) - Dutch insurer NN Group said on Tuesday its capital position had improved in the first six months of 2023, helped by higher interest rates and fewer weather-related claims.
The Netherlands' largest insurer said its Solvency II ratio increased to 201% at the end of June, from 197% at the end of 2022, as operating capital generation improved almost 15%.
NN said "benign weather" had helped keep claims relatively low at its non-life business, reflected in a drop of the combined ratio of the business to 90.1%.
A ratio below 100% means the insurer earned more in premiums than it paid out in claims.
NN said it now expected its combined ratio for the business to be between 91% and 93% in 2025, from an earlier guidance of 93-95%.
NN's operating result improved by 24.5% in the first six months of 2023 compared to a year before, to 1.4 billion euros ($1.52 billion).
($1 = 0.9240 euros)