Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com -- Dutch insurer and asset manager NN Group (AS:NN) on Tuesday said it expects its operating capital generation to increase to €2.2 billion by 2028, up from its previous target of €1.9 billion for 2025.
The company laid out the projection during its Capital Markets Day in The Hague, where top executives presented updated financial targets and priorities.
NN Group also raised its free cash flow target to above €1.8 billion by 2028, compared with its earlier goal of €1.6 billion for 2025.
The company said the new targets reflect a compound annual growth rate per share of 7% to 8%, with contributions from its operations in Insurance Europe, Netherlands Non-life and Japan.
Knibbe said the growth would be supported by strong demand in the group’s European insurance and pension markets, continued expansion in the Netherlands Non-life segment, and a gradual recovery in Japan’s long-term savings market for small and medium-sized enterprises.
“Together with NN (NASDAQ:NNBR) Bank, these businesses are expected to make up over 55% of Group OCG by 2028,” chief executive David Knibbe said in a statement.
He added that the mix is expected to enhance the group’s business diversification and improve future growth prospects.
The group noted that its Dutch Life and Pension books are expected to run off at a slower pace, supported by higher interest rates and past renewals.
It said its leading position in the Dutch defined contribution pension market would also help drive future fee income.
Alongside its financial goals, NN Group introduced new non-financial targets. By 2028, it aims to reach above-market-average customer satisfaction and to be in the top three for broker satisfaction in the Netherlands.
It also targets above-average employee satisfaction and wants at least 40% of senior management roles held by women by the same year.
NN Group announced a €450 million investment between 2024 and 2027 in its Future Ready programme, aimed at digital transformation and IT simplification.
It expects the initiative to generate €200 million in annual benefits by 2027. The company plans to achieve 300 data and artificial intelligence use cases by 2028 as part of this effort.
The group said its pro-forma Solvency II ratio was stable at 195% by the end of April 2025.
NN also reaffirmed its capital return policy, including a progressive dividend and an annual share buyback of at least €300 million. “Our strategy remains focused on customers, colleagues and society,” Knibbe added.