NN paid over 575 million lei to insurance and private pensions clients in the first half of 2024

NN life, health, and home insurance clients and participants to the pension funds managed by NN benefited from over 575 million lei in the first half of 2024, up nearly 30% compared to the same period last year. This reflects the financial support people can rely on when they need their insurance, and the contribution private pensions have to the revenues needed to maintain their lifestyle at retirement. The strong performance across all business lines in the first semester confirms NN's stability and financial capacity to meet its commitments to clients.   In the life and health insurance segment, NN Asigurari de Viata paid customers benefits of over 303 million lei, according to unaudited financial results. The amount represents expenses covered or claims paid to those who faced a situation covered by their insurance, as well as money accumulated through savings and investment products that reached maturity or were redeemed. From the benefits paid for the covered unforeseen events, about 45% covered expenses or claims to clients who faced health-related issues. At the same time, in the home insurance segment, NN Asigurari paid over 2.2 million lei to clients who faced incidents related to their homes, more than double compared to the first six months of 2023.   "Beyond providing protection, financial support in covered situations, or savings and investments for their plans, insurance in fact offers people peace of mind and greater confidence in the future. Our ambition doesn’t limit at offering clients increasingly relevant insurance solutions, but we aim to create excellent experiences and interactions with their products and to support them when they need most. Therefore, securing our financial stability and growth ahead of the market, building innovative benefits and products, and transforming our business, through process simplification and development of our digital capabilities, are our main strategic priorities for the coming years", explained Ramona Livinti, CFO of NN Asigurari de Viata.   Gross premiums written by NN Asigurari de Viata exceeded 562 million lei in the first half of 2024, up by about 12% compared to the same period of the previous year, according to unaudited financial results. Furthermore, the financial assets under management surpassed 5 billion lei for the first time, up by 10%. The company reported a gross profit of nearly 61 million lei in the first six months of 2024 and paid a total of approximately 54 million lei in contributions to the state budget, up 46% from the first half of 2023.   In the voluntary private pensions segment1 managed by NN Asigurari de Viata, the company paid almost 42 million lei to participants in the NN Activ and NN Optim funds who met the requirements to benefit from their Pillar III pension in the first half of this year. The amount represents approximately 70% of the payments made throughout 2023 and increased by 31% compared to the same period last year. The net assets under management exceeded the 3 billion lei threshold at the end of June, combined for the NN Activ and NN Optim funds, 32% higher than in the same period last year, representing a 56.4% market share according to data from the Financial Supervisory Authority. The two funds had a total of 341,000 participants at the end of June, representing almost 45% of the total number of Pillar III participants. Through its investment activities, NN Asigurari de Viata generated returns above inflation in the benefit of participants, of 7.77% for the NN Activ fund and 5.93% for the NN Optim fund in the first half of the year, according to calculations based on Financial Supervisory Authority data.   In the mandatory private pensions segment2 managed by NN Pensii SAFPAP, the company paid over 228 million lei to participants who met the requirements to benefit from the money in their Pillar II accounts in the first half of 2024, up 75% over the first semester of the previous year. NN Pensii SAFPAP managed net assets of over 48 billion lei at the end of June, almost 30% higher than the same period in 2023, representing a market share of 34% according to the Financial Supervisory Authority's data. The fund had 2.1 million participants, representing a 25.7% share of the total number of participants in Pillar II, and the fund manager generated an investment return in their benefit of 6.8% in the first half of 2024, according to calculations based on Financial Supervisory Authority data.   NN Romania is part of the NN Group, a financial services company with a history of more than 175 years of international operations and a strong presence in 11 countries, with a total of more than 16,000 employees and over 19 million clients. NN Group has been listed on Euronext Amsterdam since 2014 and aims to be an industry leader recognised for its customer experiences, talents and contributions to society.     1 2