NN GROUP FINANCIAL SUPPLEMENT 4Q2014

Size: px
Start display at page:

Download "NN GROUP FINANCIAL SUPPLEMENT 4Q2014"

Transcription

1 NN GROUP FINANCIAL SUPPLEMENT 4Q2014

2 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could cause some small differences. All figures are unaudited. The segment Other comprises of the businesses of NN Bank and ING Re, the holding company and certain other entities. APE is calculated as the sum of annual premiums and 1/10th of regular premiums sold in the period. Client balances, for life insurance and investment management activities, encompass all on or off-balance sheet customer accounts (liability based) on which NN earns a spread or a fee. They include the gross life provisions for both general account and separate account life insurance contracts and off-balance sheet funds managed for institutional investors and (proprietary) pension funds. Client balances are not equal to AuM, as client balances exclude the Company s shareholder s equity and provisions for non-life insurance contracts. This key performance indicator measures the volume of NN s in-force life insurance and investment management business which drives future operating income and results. NN GROUP FINANCIAL SUPPLEMENT 4Q2014 2

3 TABLE OF CONTENTS Consolidated balance sheet: Assets Consolidated balance sheet: Equity and Liabilities Total equity Shareholders' equity reconciliation Capital base - IGD Cash capital position at the holding company Investments Analysis of results: Total Analysis of results: Netherlands Life Analysis of results: Netherlands Non-Life Analysis of results: Insurance Europe Analysis of results: Japan Life Analysis of results: Investment Management Analysis of results: Other Analysis of results: Japan Closed Block VA Client balances: Netherlands Life Client balances: Insurance Europe Client balances: Japan Life Client balances: Investment Management Client balances: Other (NN Bank) Client balances: Japan Closed Block VA Additional information: Administrative expenses in the Netherlands Additional information: Netherlands Non-life Additional information: Insurance Europe key figures by country Additional information: Investment Management Additional information: New business metrics 30 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 3

4 NN GROUP CONSOLIDATED BALANCE SHEET: ASSETS 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar in EUR million ) ) 2) ) 3) 1) 3) 2013 Cash and cash equivalents 7,530 5,529 6,739 8,114 7,155 6,858 7,818 7,243 Financial assets at fair value through P&L 49,549 47,862 44,516 42,360 43,933 44,859 45,540 48,866 - trading assets non-trading derivatives 7,207 5,450 4,436 3,423 3,126 3,342 3,687 4,338 - investments for risk of policyholders 41,221 41,298 38,822 37,683 39,589 40,165 40,693 42,525 - other ,408 Available-for-sale investments 72,277 69,249 67,025 63,684 61,014 64,460 64,798 67,858 - debt securities 65,991 63,295 60,861 57,801 55,394 59,101 59,180 62,345 - equity securities 6,286 5,954 6,164 5,883 5,620 5,359 5,618 5,513 Loans 27,802 28,965 27,111 25,905 25,319 22,076 16,823 16,813 Reinsurance contracts Investments in associates 1,617 1,602 1,575 1,243 1,071 1,162 1,189 1,328 Real estate investments 1,104 1, Property and equipment Intangible assets Deferred acquisition costs 1,403 1,431 1,441 1,411 1,353 2,832 2,878 3,030 Other assets 3,462 3,626 3,945 3,274 3,754 5,835 5,890 6,195 Total assets excluding assets held for sale 165, , , , , , , ,995 Assets held for sale , , ,045 Total assets 165, , , , , , , ,040 1) The figures for this period have been restated to reflect the change in accounting policy, covering the move towards fair value accounting for Guaranteed Minimum Death Benefits for reserves of the Japan Closed Block VA segment as of 1 January The figures in this period have also been restated to reflect the implementation of IFRS 11, which replaced proportional consolidation for joint ventures by equity accounting. 2) Reclassified. In the 30 September 2013 balance sheets, Assets and liabilities held for sale includes the insurance and investment management businesses in Asia excluding NN Group's business in Japan. The assets and liabilities of NN Group's business in Japan are included on a line by line basis. 3) Reclassified. In the 30 June 2013 and 31 March 2013 balance sheets, Assets and liabilities held for sale includes ING US, the insurance and investment management businesses in Asia excluding NN Group's business in Japan. The assets and liablities of NN Group's business in Japan are included on a line by line basis. NN GROUP FINANCIAL SUPPLEMENT 4Q2014 4

5 NN GROUP CONSOLIDATED BALANCE SHEET: EQUITY AND LIABILITIES 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar in EUR million ) ) 2) ) 3) 1) 3) 2013 Shareholders' equity 20,355 18,344 16,939 14,682 14,062 14,719 22,089 27,114 Minority interests , Undated subordinated notes Total equity 21,417 19,400 16,999 14,754 14,130 14,784 25,114 27,354 Subordinated debt 2,297 2,299 3,287 2,890 2,892 2,894 2,958 2,996 Debt securities in issue Senior debt ,000 1,000 2,000 1,308 1,309 Other borrowed funds 5,467 4,419 3,968 3,243 3,817 2,955 2,687 3,062 Insurance and investment contracts 119, , , , , , , ,466 - life insurance provisions 73,639 73,281 72,569 71,345 67,700 70,625 71,485 74,039 - non-life insurance provisions 3,540 3,670 3,787 3,912 3,584 3,726 3,840 3,955 - provision for risk of policyholders 41,285 41,393 38,869 37,772 39,675 40,259 40,812 42,626 - other Customer deposits 6,981 6,597 6,519 6,190 5,769 4, Financial liabilities at fair value through P&L 3,142 2,529 1,859 1,396 1,843 1,782 1,920 2,205 - non-trading derivatives 3,142 2,529 1,859 1,396 1,843 1,782 1,920 2,205 Other liabilities 6,540 5,421 4,995 4,408 4,071 5,887 5,877 6,044 Total liabilities excluding liabilities held for sale 144, , , , , , , ,777 Liabilities held for sale , , ,909 Total liabilities 144, , , , , , , ,686 Total equity and liabilities 165, , , , , , , ,040 1) The figures for this period have been restated to reflect the change in accounting policy, covering the move towards fair value accounting for Guaranteed Minimum Death Benefits for reserves of the Japan Closed Block VA segment as of 1 January The figures in this period have also been restated to reflect the implementation of IFRS 11, which replaced proportional consolidation for joint ventures by equity accounting. 2) Reclassified, in the 30 September 2013 reclassified balance sheets, Assets and liabilities held for sale includes the insurance and investment management businesses in Asia excluding NN Group's business in Japan. The assets and liabilities of NN Group's business in Japan are included on a line by line basis. 3) Reclassified, in the 30 June 2013 and 31 March 2013 reclassified balance sheets Assets and liabilities held for sale includes ING US, the insurance and investment management businesses in Asia excluding NN Group's business in Japan. The assets and liabilities of NN Group's business in Japan are included on a line by line basis. NN GROUP FINANCIAL SUPPLEMENT 4Q2014 5

6 NN GROUP 1.2 TOTAL EQUITY 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar in EUR million ) ) ) ) Share capital Share premium 12,098 12,098 12,140 11,290 11,605 10,711 17,750 17,750 Revaluation reserve equity securities 1, ,091 1,097 1, Revaluation reserve debt securities 9,044 7,006 5,489 4,110 2,807 3,674 4,831 8,504 Revaluation reserve crediting to life policyholders -5,529-4,542-3,858-3,199-2,579-2,812-3,507-5,214 Revaluation reserve cashflow hedge 4,464 3,791 3,447 3,039 2,726 2,872 3,076 3,391 Other revaluation reserve Remeasurement of the net defined benefit asset/liability , Currency translation reserve Retained earnings and other reserves ,147-1, ,328 Shareholders' equity 20,355 18,344 16,939 14,682 14,062 14,719 22,089 27,114 Minority interests , Undated Subordinated notes Total equity 21,417 19,400 16,999 14,754 14,130 14,784 25,114 27,354 Shareholders' equity per share in EUR Shares outstanding in the market (in million) ) The figures for this period have been restated to reflect the change in accounting policy, covering the move towards fair value accounting for Guaranteed Minimum Death Benefits for reserves of the Japan Closed Block VA segment as of 1 January NN GROUP FINANCIAL SUPPLEMENT 4Q2014 6

7 NN GROUP 1.3 SHAREHOLDERS' EQUITY RECONCILIATION In EUR million (Allocated) Shareholders' equity Less: Revaluation reserves 1) Plus: Minority interest Adjusted (allocated) equity Netherlands Life 14,255 7, ,678 Netherlands Non-life Insurance Europe 2, ,593 Japan Life 1, ,146 Investment Management Other 2) Ongoing business 19,343 9, ,301 Japan Closed Block VA 1, ,012 Discontinued operations NN Group 20,355 9, ,313 1) Revaluation reserves for debt securities, equity securities and property in own use, the cash flow hedge reserve, the related crediting to policyholders and interest on undated subordinated notes. 2) The segment Other comprises of the allocated equity of NN Bank, ING Re and the cash capital position, other assets and debt of the holding company. NN GROUP FINANCIAL SUPPLEMENT 4Q2014 7

8 NN GROUP 1.4 CAPITAL BASE - IGD 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar In EUR million Shareholders' equity 20,355 18,344 16,939 14,682 14,062 14,719 22,089 27,114 Qualifying undated subordinated debt 1) 1,823 1,823 1,809 2,394 2,394 2,394 2,455 2,490 Qualifying dated subordinated debt 1) 1,000 1,000 1, Required regulatory adjustments -9,005-7,934-7,288-6,110-5,501-6,421-1,664-5,869 Total capital base 2) (a) 14,172 13,233 12,460 10,966 10,955 10,691 22,881 23,736 EU required capital (b) 4,683 4,683 4,578 4,468 4,385 5,132 8,981 9,347 NN Group IGD Solvency I ratio 3) (a/b) 303% 283% 272% 245% 250% 208% 255% 254% 1) Subordinated debt included at notional value in the IGD capital base. 2) The 31 March 2014 IGD capital base has been updated as the eligible and dated hybrids are capped at 50% and 25% respectively of the EU required capital. The 31 December 2013 IGD capital base has been updated to reflect the move towards fair value accounting for the Guaranteed Minimum Death Benefits reserves of the Japan Closed Block VA segment and that the eligible and dated hybrids are capped at 50% and 25% respectively of the EU required capital. 3) The 2014 solvency ratios are not final until filed with the regulators. NN GROUP FINANCIAL SUPPLEMENT 4Q2014 8

9 NN GROUP 1.5 CASH CAPITAL POSITION AT THE HOLDING COMPANY In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 FY2014 Cash capital position - beginning of period 1,184 1, ,363 1,363 Cash divestment proceeds Dividends from subsidiaries 1) Capital injections into subsidiaries 2) ,313 Other 3) Free cash flow at the holding Capital flows from / (to) shareholders Increase / (decrease) in debt and loans Cash capital position - end of period 1,413 1,184 1, ,413 Free cash flow at the holding IPO related capital transactions 4) Adjusted free cash flow at the holding Note: cash capital is defined as net current assets available at the holding company 1) Includes interest on subordinated loans issued by subsidiaries to the holding company. 2) Includes the change of subordinated loans issued by subsidiaries to the holding company. 3) Includes interest on subordinated loans and debt, holding company expenses and other cash flows. 4) Consists of the IPO related capital strengthening of NN Life by EUR 1,050 million through subordinated debt and EUR 176 million of cash proceeds received from the divestment of SulAmérica which were upstreamed to ING Group. NN GROUP FINANCIAL SUPPLEMENT 4Q2014 9

10 NN GROUP 1.6 INVESTMENTS 31 December 2014 Loans and Investments AFS FV through P&L Total advances In EUR billion B/S value B/S value Reval after tax B/S value B/S value Reval after tax Total Debt securities of which Government bonds of which Covered bonds of which Financial institutions of which Corporate bonds of which ABS Public Equity securities Other Equity securities Total Investments NN GROUP FINANCIAL SUPPLEMENT 4Q

11 NN GROUP 2.1 ANALYSIS OF RESULTS: TOTAL In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 1) 3Q2013 1) 2Q2013 1) 1Q2013 1) FY2014 FY2013 1) Analysis of results Netherlands Life Netherlands Non-life Insurance Europe Japan Life Investment Management Other Operating result ongoing business , Non-operating items ongoing business of which gains/losses and impairments of which revaluations of which market & other impacts Japan Closed Block VA Insurance Other Special items before tax Result on divestments Result before tax from continuing operations Taxation Net result from continuing operations Net result from discontinued operations Minority interests Net result , Shares outstanding in the market (in million) Net result per share in EUR 2) New business ongoing business Single premiums ,790 1,741 Regular premiums ,136 1,053 New sales life insurance (APE) ,315 1,227 Value of new business Internal rate of return 10.8% 9.7% NN GROUP FINANCIAL SUPPLEMENT 4Q

12 NN GROUP 2.1 ANALYSIS OF RESULTS: TOTAL In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 1) 3Q2013 1) 2Q2013 1) 1Q2013 1) FY2014 FY2013 1) Key figures ongoing business Gross premium income 1,821 2,047 1,977 3,489 1,917 1,959 2,016 3,633 9,334 9,525 Total administrative expenses ,758 1,807 Cost/income ratio (Administrative expenses/operating income) 37.6% 35.6% 37.0% 34.5% 38.1% 36.5% 36.3% 37.3% 36.2% 37.1% Combined ratio (Netherlands Non-life) 3) 99.4% 99.6% 98.5% 100.2% 103.6% 97.4% 98.2% 106.5% 99.4% 101.5% Investment Management Assets under Management 4) Life general account invested assets 4) Investment margin/life general account invested assets (in bps) 5) Total provisions for insurance and investment contracts 4) of which for risk policyholder 4) NN Life Solvency I ratio 6) 260% 252% 250% 235% 223% 183% 230% 204% 260% 223% Net operating result 7) Adjusted allocated equity (end of period) 8) 10,301 9,921 9,605 8,458 8,989 7,158 7,577 7,542 10,301 8,989 Net operating ROE 9) 7.6% 8.3% 8.7% 9.9% 7.4% 8.3% 10.7% 9.0% 8.6% 8.9% Key figures Japan Closed Block VA Account value 13,248 14,313 14,425 14,175 14,687 15,792 16,104 17,205 13,248 14,687 Number of policies 294, , , , , , , , , ,306 Key figures Total NN Group IGD Solvency I ratio 6)10) 303% 283% 272% 245% 250% 208% 255% 254% 303% 250% Total assets 4) Shareholders' equity 20,355 18,344 16,939 14,682 14,062 14,719 22,089 27,114 20,355 14,062 Employees (FTEs, end of period) 11,659 11,854 11,913 12,129 12,245 12,519 12,291 12,509 11,659 12,245 1) The figures of this period have been restated to reflect the change in accounting policy, i.e., the move towards fair value accounting for Guaranteed Minimum Death Benefits reserves of the Japan Closed Block VA segment as of 1 January ) Net result per share in Q22014 is calculated based on the NN Group shares outstanding as of 7 July ) Excluding Mandema and Zicht broker businesses. 4) End of period, in EUR billion. 5) Four-quarter rolling average. 6) The 2014 solvency ratios are not final until filed with the regulators. 7) Net operating result of the ongoing business, adjusted for the accrued coupon on undated notes classified in equity. 8) Allocated equity, adjusted for revaluation reserves and excluding undated notes classified in equity. 9) Net operating ROE is calculated as the (annualised) net operating result of the ongoing business, adjusted for the accrued coupon on undated notes classified in equity divided by the average allocated equity of the ongoing business adjusted for revaluation reserves and excluding undated notes classified in equity. 10) The 31 March 2014 IGD Solvency I ratio has been updated as the eligible and dated hybrids are capped at 50% and 25% respectively of the EU required capital. The 31 December 2013 IGD Solvency I ratio has been updated to reflect the move towards fair value accounting for the Guaranteed Minimum Death Benefits reserves of the Japan Closed Block VA segment and that the eligible and dated hybrids are capped at 50% and 25% respectively of the EU required capital. Note: Operating results are non-gaap measures. These are derived from figures according to IFRS-EU by excluding impact from divestments, discontinued operations and special items, gains/losses and impairments, revaluations and market & other impacts. NN GROUP FINANCIAL SUPPLEMENT 4Q

13 NN GROUP 2.2 ANALYSIS OF RESULTS: NETHERLANDS LIFE In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Analysis of results Investment margin Fees and premium based revenues Technical margin Income non-modelled life business Operating income ,136 1,255 Administrative expenses DAC amortisation and trail commissions Expenses Operating result Non-operating items of which gains/losses and impairments of which revaluations of which market & other impacts Special items before tax Result on divestments Result before tax Taxation Minority interests Net result New business Single premiums Regular premiums New sales life insurance (APE) Value of new business Internal rate of return 10.5% 4.5% Key figures Gross premium income , ,524 3,084 3,240 Total administrative expenses Cost/income ratio (Administrative expenses/operating income) 40.0% 37.3% 41.8% 41.9% 35.4% 36.5% 34.8% 44.0% 40.2% 37.6% Life general account invested assets 1) Investment margin/life general account invested assets (in bps) 2) Total provisions for insurance and investment contracts 1) of which for risk policyholder 1) Allocated equity (end of period) 14,255 12,386 11,265 10,243 9,491 9,764 9,865 10,615 14,255 9,491 NN Life Solvency I ratio 3) 260% 252% 250% 235% 223% 183% 230% 204% 260% 223% Net operating result Adjusted allocated equity (end of period) 6,678 6,485 6,291 6,197 6,325 6,418 6,381 6,322 6,678 6,325 Net operating ROE 7.3% 7.6% 8.1% 7.8% 8.1% 8.1% 10.4% 6.7% 7.7% 8.3% Employees (FTEs, end of period) 2,174 2,314 2,366 2,433 2,571 2,602 2,646 2,693 2,174 2,571 1) End of period, in EUR billion. 2) Four-quarter rolling average. 3) The 2014 NN Life Solvency I ratios are not final until filed with the regulators. NN GROUP FINANCIAL SUPPLEMENT 4Q

14 NN GROUP 2.3 ANALYSIS OF RESULTS: NETHERLANDS NON-LIFE In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Analysis of results Earned premiums ,525 1,546 Investment income Other income Operating income ,640 1,644 Claims incurred, net of reinsurance ,049 1,077 Acquisition costs Administrative expenses Acquisition costs and administrative expenses Expenditure ,516 1,569 Operating result insurance businesses Operating result broker businesses Total operating result Non-operating items of which gains/losses and impairments of which revaluations of which market & other impacts Special items before tax Result on divestments Result before tax Taxation Minority interests Net result Key figures Gross premium income ,566 1,582 Total administrative expenses Combined ratio 1) 99.4% 99.6% 98.5% 100.2% 103.6% 97.4% 98.2% 106.5% 99.4% 101.5% of which Claims ratio 1) 68.7% 69.5% 66.9% 70.1% 72.7% 66.3% 65.5% 73.9% 68.8% 69.7% of which Expense ratio 1) 30.7% 30.1% 31.6% 30.1% 30.9% 31.1% 32.7% 32.6% 30.6% 31.8% Total insurance provisions 2) Allocated equity (end of period) Net operating result Adjusted allocated equity (end of period) Net operating ROE 27.3% 25.8% 28.9% 13.7% 5.8% 16.1% 31.7% -3.3% 23.3% 13.3% Employees (FTEs, end of period) 1,708 1,752 1,748 1,911 1,999 2,029 2,049 2,073 1,708 1,999 1) Excluding Mandema and Zicht broker businesses. 2) End of period, in EUR billion. NN GROUP FINANCIAL SUPPLEMENT 4Q

15 NN GROUP 2.4 ANALYSIS OF RESULTS: INSURANCE EUROPE In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Analysis of results Investment margin Fees and premium based revenues Technical margin Income non-modelled life business Life Insurance operating income Administrative expenses DAC amortisation and trail commissions Life Insurance expenses Life Insurance operating result Non-life operating result Operating result Non-operating items of which gains/losses and impairments of which revaluations of which market & other impacts Special items before tax Result on divestments Result before tax Taxation Minority interests Net result New business Single premiums ,094 1,005 Regular premiums New sales life insurance (APE) Value of new business Internal rate of return 9.3% 9.7% Key figures Gross premium income ,327 2,344 Total administrative expenses (Life & Non-life) Cost/income ratio (Administrative expenses/operating income) 40.5% 37.9% 36.8% 34.8% 34.8% 34.5% 36.6% 39.1% 37.7% 36.3% Life general account invested assets 1) Investment margin/life general account invested assets (in bps) 2) Total provisions for insurance and investment contracts 1) of which for risk policyholder 1) Assets under management pensions 1)3) Allocated equity (end of period) 2,103 2,091 1,997 2,031 1,898 2,024 1,972 2,077 2,103 1,898 Net operating result Adjusted allocated equity (end of period) 1,593 1,597 1,526 1,654 1,601 1,742 1,711 1,796 1,593 1,601 Net operating ROE 8.0% 8.9% 7.9% 8.9% 7.2% 8.7% 9.1% 7.8% 8.4% 8.2% Employees (FTEs, end of period) 4,085 4,069 4,046 4,039 4,016 4,043 4,056 4,084 4,085 4,016 1) End of period, in EUR billion. 2) Four-quarter rolling average. 3) The numbers shown under AuM are client balances which exclude IFRS shareholder's equity related to the respective pension businesses and include the assets under administration. NN GROUP FINANCIAL SUPPLEMENT 4Q

16 NN GROUP 2.5 ANALYSIS OF RESULTS: JAPAN LIFE In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Analysis of results 1) Investment margin Fees and premium based revenues Technical margin Income non-modelled life business Operating income Administrative expenses DAC amortisation and trail commissions Expenses Operating result Non-operating items of which gains/losses and impairments of which revaluations of which market & other impacts Special items before tax Result on divestments Result before tax Taxation Minority interests Net result New business 1) Single premiums Regular premiums New sales life insurance (APE) Value of new business Internal rate of return 14.3% 17.3% Key figures 1) Gross premium income ,323 2,322 Total administrative expenses Cost/income ratio (Administrative expenses/operating income) 34.2% 21.3% 26.0% 16.9% 35.4% 25.0% 25.5% 16.3% 23.0% 23.8% Life general account invested assets 2) Total provisions for insurance and investment contracts 2) of which for risk policyholder 2) Allocated equity (end of period) 1,579 1,496 1,438 1,354 1,259 1,315 1,247 1,660 1,579 1,259 Net operating result Adjusted allocated equity (end of period) 1,146 1,194 1,161 1,129 1,074 1,113 1,099 1,353 1,146 1,074 Net operating ROE 2.5% 8.4% 5.9% 15.3% 2.4% 7.7% 5.8% 16.1% 7.9% 8.4% Employees (FTEs, end of period) ) JPY/EUR average quarterly fx rates: (4Q2014), (3Q2014), (2Q2014), (1Q2014), (4Q2013), (3Q2013), (2Q2013) and (1Q2013) and JPY/EUR end of period fx rates: (4Q2014), (3Q2014), (2Q2014), (1Q2014), (4Q2013), (3Q2013), (2Q2013) and (1Q2013). 2) End of period, in EUR billion. NN GROUP FINANCIAL SUPPLEMENT 4Q

17 NN GROUP 2.6 ANALYSIS OF RESULTS: INVESTMENT MANAGEMENT In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Analysis of results Investment income Fees Operating income Administrative expenses Operating result Non-operating items Special items before tax Result on divestments Result before tax Taxation Minority interests Net result 1) Key figures Total administrative expenses Cost/income ratio (Administrative expenses/operating income) 68.2% 66.7% 68.1% 66.9% 74.8% 70.4% 65.0% 71.8% 67.5% 70.6% Net inflow Asets under Management (in EUR billion) Assets under Management 2) Fees/average Assets under Management (in bps) Allocated equity (end of period) Net operating result Adjusted allocated equity (end of period) Net operating ROE 31.5% 32.9% 31.4% 34.6% 22.2% 26.3% 34.3% 23.7% 32.4% 26.7% Employees (FTEs, end of period) 1,151 1,135 1,139 1,145 1,134 1,144 1,154 1,187 1,151 1,134 1) Excluding the Net result from discontinued operations. 2) End of period, in EUR billion. NN GROUP FINANCIAL SUPPLEMENT 4Q

18 NN GROUP 2.7 ANALYSIS OF RESULTS: OTHER In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Analysis of results Interest on hybrids and debt Investment income and fees Holding expenses Amortisation of intangible assets Holding result Operating result Reinsurance business Operating result NN Bank Other results Operating result Non-operating items of which gains/losses and impairments of which revaluations of which market & other impacts Special items before tax Result on divestments Result before tax Taxation Minority interests Net result Key figures Gross premium income Total administrative expenses of which Reinsurance business of which NN Bank NN Bank common equity Tier 1 ratio phased in 14.1% 14.6% 15.7% 16.7% 16.4% 21.4% 37.1% 32.6% 14.1% 16.4% Total assets NN Bank 1) Total provisions for insurance and investment contracts 1) Allocated equity (end of period) 2) ,220-1,104-4,001-3,331-3, ,104 Net operating result 3) Adjusted allocated equity (end of period) 2) , ,988-2,483-2, Employees (FTEs, end of period) 1,838 1,875 1,884 1,868 1,777 1,929 1,594 1,688 1,838 1,777 1) End of period, in EUR billion. 2) (Adjusted) allocated equity excluding undated notes classified in equity. 3) Net operating result is adjusted for the accrued coupon on undated notes classified in equity. NN GROUP FINANCIAL SUPPLEMENT 4Q

19 NN GROUP 2.8 ANALYSIS OF RESULTS: JAPAN CLOSED BLOCK VA In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 2) 3Q2013 2) 2Q2013 2) 1Q2013 2) FY2014 FY2013 2) Analysis of results 1) Investment margin Fees and premium based revenues Technical margin Income non-modelled life business Operating income Administrative expenses DAC amortisation and trail commissions Expenses Operating result Non-operating items of which gains/losses and impairments of which revaluations of which market & other impacts Special items before tax Result on divestments Result before tax Taxation Minority interests Net result Key figures 1)3) Gross premium income Allocated equity 1,012 1,135 1,061 1,058 1,071 1,466 1,387 1,619 1,012 1,071 Account value 13,248 14,313 14,425 14,175 14,687 15,792 16,104 17,205 13,248 14,687 Net Amount at Risk ,448 1,908 2, IFRS Reserves ,068 1,267 1,086 1,808 2,161 2, ,086 Number of policies 294, , , , , , , , , ,306 Employees (FTEs) ) JPY/EUR average quarterly fx rates: (4Q2014), (3Q2014), (2Q2014), (1Q2014), (4Q2013), (3Q2013), (2Q2013) and (1Q2013) and JPY/EUR end of period fx rates: (4Q2014), (3Q2014), (2Q2014), (1Q2014), (4Q2013), (3Q2013), (2Q2013) and (1Q2013). 2) The figures of this period have been restated to reflect the change in accounting policy, i.e., the move towards fair value accounting for Guaranteed Minimum Death Benefits reserves of the Japan Closed Block VA segment as of 1 January ) End of period except Gross premium income. NN GROUP FINANCIAL SUPPLEMENT 4Q

20 NN GROUP 3.1 CLIENT BALANCES: NETHERLANDS LIFE In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Client Balances included on Balance Sheet Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period NN GROUP FINANCIAL SUPPLEMENT 4Q

21 NN GROUP 3.2 CLIENT BALANCES: INSURANCE EUROPE In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Client Balances included on Balance Sheet Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period Off Balance Sheet Pension and Mutual Funds business Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period Total Client Balances Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period NN GROUP FINANCIAL SUPPLEMENT 4Q

22 NN GROUP 3.3 CLIENT BALANCES: JAPAN LIFE In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Client Balances included on Balance Sheet Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period NN GROUP FINANCIAL SUPPLEMENT 4Q

23 NN GROUP 3.4 CLIENT BALANCES: INVESTMENT MANAGEMENT In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Off Balance Sheet Institutional Asset Management Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers 1) Market performance / Interest credited FX impact and other End of period Off Balance Sheet Pension and Mutual Funds business Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers 1) Market performance / Interest credited FX impact and other End of period Total Client Balances Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers 1) Market performance / Interest credited FX impact and other End of period ) As of 3Q2014 the AuM sold via ING Bank channel is recognised in the client balances, as NN Group is reported Held for Sale by ING Group. NN GROUP FINANCIAL SUPPLEMENT 4Q

24 NN GROUP 3.5 CLIENT BALANCES: OTHER (NN BANK) In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Client Balances included on Balance Sheet Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period NN GROUP FINANCIAL SUPPLEMENT 4Q

25 NN GROUP 3.6 CLIENT BALANCES: JAPAN CLOSED BLOCK VA In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Client Balances included on Balance Sheet Beginning of period Deposits Withdrawals / Benefits Net production Acquisition / Divestments / Transfers Market performance / Interest credited FX impact and other End of period NN GROUP FINANCIAL SUPPLEMENT 4Q

26 NN GROUP 4.1 ADDITIONAL INFORMATION: ADMINISTRATIVE EXPENSES IN THE NETHERLANDS In EUR million FY2014 FY2013 Change Netherlands Life Netherlands Non-Life Corporate / holding of which segment Other excluding NN Bank and reinsurance business of which Insurance Other Total 877 1, NN GROUP FINANCIAL SUPPLEMENT 4Q

27 NN GROUP 4.2 ADDITIONAL INFORMATION: NETHERLANDS NON-LIFE In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Gross premium income by line of business Disability & Accident Fire Marine & Aviation Motor Miscellaneous Indirect business Property & Casualty Total ,566 1,582 In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Operating result by line of business Disability & Accident Fire Marine & Aviation Motor Miscellaneous Indirect business Property & Casualty Mandema and Zicht broker businesses Total Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Combined ratios Disability & Accident and Property & Casualty 1) Disability & Accident Combined ratio 101.4% 95.7% 94.5% 97.7% 94.0% 98.7% 102.4% 111.6% 97.3% 101.9% of which Claims ratio 78.2% 73.4% 71.8% 75.1% 70.9% 75.7% 77.3% 88.0% 74.6% 78.2% of which Expense ratio 23.2% 22.3% 22.7% 22.6% 23.1% 23.0% 25.1% 23.6% 22.7% 23.7% Property & Casualty Combined ratio 97.8% 102.6% 101.9% 102.4% 110.9% 96.3% 95.1% 102.2% 101.0% 101.2% of which Claims ratio 61.3% 66.3% 63.5% 66.2% 73.5% 58.8% 56.8% 62.2% 64.2% 62.9% of which Expense ratio 36.5% 36.3% 38.4% 36.3% 37.3% 37.5% 38.3% 40.0% 36.9% 38.2% Total Combined ratio 99.4% 99.6% 98.5% 100.2% 103.6% 97.4% 98.2% 106.5% 99.4% 101.5% of which Claims ratio 68.7% 69.5% 66.9% 70.1% 72.7% 66.3% 65.5% 73.9% 68.8% 69.7% of which Expense ratio 30.7% 30.1% 31.6% 30.1% 30.9% 31.1% 32.7% 32.6% 30.6% 31.8% 1) Excluding Mandema and Zicht broker businesses. NN GROUP FINANCIAL SUPPLEMENT 4Q

28 NN GROUP 4.3 ADDITIONAL INFORMATION: INSURANCE EUROPE KEY FIGURES BY COUNTRY In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Gross premium income by country Belgium Poland Czech Republic Hungary Spain Other Insurance Europe ,327 2,344 In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 Operating result by country Belgium Poland Czech Republic Hungary Spain Other Insurance Europe In EUR million 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 FY2014 FY2013 New sales (APE) by country Belgium Poland Czech Republic Hungary Spain Other Insurance Europe NN GROUP FINANCIAL SUPPLEMENT 4Q

29 NN GROUP 4.4 ADDITIONAL INFORMATION: INVESTMENT MANAGEMENT In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 Assets under Management (AUM) and Assets under Advice and Administration (AUA) Affiliates Proprietary (general account assets) Other affiliates business Third parties Institutional customers Retail customers home markets Retail customers others Total Assets under Management Assets under Advice and Administration In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 AUM by investment Equity Fixed income Money Market Total In EUR billion Affiliates Proprietary Other Third Parties Institutional Retail home markets Retail Others Total AUM rollforward Beginning of period Net inflow Acquisition/ Divestments Market performance (incl. FX Impact) and Other End of period In EUR billion 4Q2014 3Q2014 2Q2014 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013 AUM rollforward Beginning of period Net inflow Acquisition/ Divestments Market performance (incl. FX Impact) and Other End of period NN GROUP FINANCIAL SUPPLEMENT 4Q

30 NN GROUP 4.5 ADDITIONAL INFORMATION: NEW BUSINESS METRICS In EUR million FY2014 FY2013 NN Group Value of new business Present value of new business premiums 7,280 6,615 New business margin 1) 2.7% 2.0% Internal rate of return 10.8% 9.7% Payback period (in years) 9 10 In EUR million FY2014 FY2013 Netherlands Life Value of new business Present value of new business premiums New business margin 1) 2.7% -6.3% Internal rate of return 10.5% 4.5% Payback period (in years) In EUR million FY2014 FY2013 Insurance Europe Value of new business Present value of new business premiums 3,313 3,188 New business margin 1) 2.4% 3.0% Internal rate of return 9.3% 9.7% Payback period (in years) 10 9 In EUR million FY2014 FY2013 Japan Life Value of new business Present value of new business premiums 3,028 2,589 New business margin 1) 3.1% 3.3% Internal rate of return 14.3% 17.3% Payback period (in years) 7 8 1) Value of new business as a percentage of Present value of new business premiums. NN GROUP FINANCIAL SUPPLEMENT 4Q

31 IMPORTANT LEGAL INFORMATION NN Group s Annual Accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ( IFRS-EU ). In preparing the financial information in this document, the same accounting principles are applied as in the NN Group N.V. condensed consolidated interim financial information for the period ended 30 June The Annual Accounts for 2014 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro, (4) the implementation of the EC Restructuring Plan, (5) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (6) the frequency and severity of insured loss events, (7) changes affecting mortality and morbidity levels and trends, (8) changes affecting persistency levels, (9) changes affecting interest rate levels, (10) changes affecting currency exchange rates, (11) changes in investor, customer and policyholder behaviour, (12) changes in general competitive factors, (13) changes in laws and regulations, (14) changes in the policies of governments and/or regulatory authorities, (15) conclusions with regard to accounting assumptions and methodologies, (16) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (17) changes in credit and financial strength ratings, (18) NN Group s ability to achieve projected operational synergies and (19) the other risks and uncertainties detailed in the Risk Factors section contained in recent public disclosures made by NN Group and/or related to NN Group (such as the most recent annual report of ING Groep N.V.). Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. NN GROUP FINANCIAL SUPPLEMENT 4Q

NN GROUP FINANCIAL SUPPLEMENT 1Q2016

NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are

More information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interim

More information

Operating result ongoing business 305 304 0.1% Net result 270 485 44.2% Net operating ROE 8.6% 8.7% Solvency II ratio 1) 241% n/a

Operating result ongoing business 305 304 0.1% Net result 270 485 44.2% Net operating ROE 8.6% 8.7% Solvency II ratio 1) 241% n/a Press Release 26 May 2016 NN Group reports 1Q16 results Operating result stable; strong capital position Operating result ongoing business of EUR 305 million, stable on 1Q15, as higher dividends at Netherlands

More information

First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln

First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln Jan Hommen CEO Amsterdam 5 May 2011 www.ing.com ING Group posted strong first-quarter results ING Group underlying net

More information

Key performance indicators

Key performance indicators The information included in the following sheets of this Excel file forms an integral part of the Aegon press release on the Q2 results 2013 as published on August 8, 2013. Cautionary note regarding non-ifrs

More information

Measuring performance Update to Insurance Key Performance Indicators

Measuring performance Update to Insurance Key Performance Indicators Measuring performance Update to Insurance Key Performance Indicators John Hele Member of Executive Board and CFO of ING Group Madrid 19 September 2008 www.ing.com Agenda Performance Indicators: Background

More information

NN Group Insurance International

NN Group Insurance International NN Group Insurance International Robin Spencer, CEO International Insurance Capital Markets Day 19 November 2015 Portfolio of mature and developing international markets Top 3 positions in CEE 1 life insurance

More information

Condensed Consolidated Interim Financial Statements Q4 2014. aegon.com

Condensed Consolidated Interim Financial Statements Q4 2014. aegon.com Condensed Consolidated Interim Financial Statements Q4 2014 aegon.com The Hague, February 19, 2015 Table of contents Condensed consolidated income statement 2 Condensed consolidated statement of comprehensive

More information

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2011

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2011 ING GROUP Condensed consolidated interim financial information for the period ended 30 June 2011 Contents Interim Report Interim Report 3 Conformity statement 14 Condensed consolidated interim accounts

More information

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2012

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2012 ING GROUP Condensed consolidated interim financial information for the period ended 30 June 2012 Contents Interim report Interim report 3 Conformity statement 14 Condensed consolidated interim accounts

More information

THE EMPIRE LIFE INSURANCE COMPANY

THE EMPIRE LIFE INSURANCE COMPANY THE EMPIRE LIFE INSURANCE COMPANY Condensed Interim Consolidated Financial Statements For the nine months ended September 30, 2013 Unaudited Issue Date: November 6, 2013 These condensed interim consolidated

More information

American International Group, Inc.

American International Group, Inc. Financial Supplement Fourth Quarter 2013 All financial information in this document is unaudited. This report should be read in conjunction with AIG s Annual Report on Form 10-K for the year ended December

More information

Embedded Value 2014 Report

Embedded Value 2014 Report Embedded Value 2014 Report Manulife Financial Corporation Page 1 of 13 Background: Consistent with our objective of providing useful information to investors about our Company, and as noted in our 2014

More information

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA, JAPAN OR AUSTRALIA

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA, JAPAN OR AUSTRALIA NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA, JAPAN OR AUSTRALIA CORPORATE COMMUNICATIONS PRESS RELEASE 7 May 204 ING records Q4 underlying net profit of EUR

More information

Condensed consolidated income statement

Condensed consolidated income statement RESTATED AND PREVIOUSLY COMMUNICATED (OLD) QUARTERLY INFORMATION FOR Fortum signed the agreement to sell its Swedish distribution business on 13 March 2015, which concludes Fortum s divestment of its electricity

More information

Financial strategy supports strategic transformation

Financial strategy supports strategic transformation Financial strategy supports strategic transformation Analyst & Investor Conference, London June 19, 2013 Darryl Button Chief Financial Officer aegon.com Today s topics Financial strategy framework Strong

More information

2014 Financial Report. You matter

2014 Financial Report. You matter 2014 Report You matter About this report NN Group adopts a combined reporting strategy, which enables us to tailor our reporting for different stakeholder groups customers, employees, shareholders, business

More information

2013 Full Year Results ING posts underlying net profit of EUR 3,255 million in 2013

2013 Full Year Results ING posts underlying net profit of EUR 3,255 million in 2013 2013 Full Year Results ING posts underlying net profit of EUR 3,255 million in 2013 Ralph Hamers CEO Amsterdam 12 February 2014 www.ing.com Key points ING Group net underlying result EUR 3,255 million,

More information

SAGICOR FINANCIAL CORPORATION

SAGICOR FINANCIAL CORPORATION Interim Financial Statements Nine-months ended September 30, 2015 FINANCIAL RESULTS FOR THE CHAIRMAN S REVIEW The Sagicor Group recorded net income from continuing operations of US $60.4 million for the

More information

The Empire Life Insurance Company

The Empire Life Insurance Company The Empire Life Insurance Company Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2015 Unaudited Issue Date: August 7, 2015 DRAFT NOTICE OF NO AUDITOR REVIEW OF CONDENSED

More information

Consolidated and Non-Consolidated Financial Statements

Consolidated and Non-Consolidated Financial Statements May 13, 2016 Consolidated and Non-Consolidated Financial Statements (For the Period from April 1, 2015 to March 31, 2016) 1. Summary of Operating Results (Consolidated) (April 1,

More information

Financial supplement 2013. Zurich Insurance Group Annual Report 2013

Financial supplement 2013. Zurich Insurance Group Annual Report 2013 Financial supplement 2013 Zurich Insurance Group Annual Report 2013 2 Contents Results for the Year ended December 31, 2013 Financial supplement (unaudited) Financial highlights (unaudited) Business operating

More information

Old Mutual Financial Disclosure Supplement For the six months ended 30 June 2008

Old Mutual Financial Disclosure Supplement For the six months ended 30 June 2008 Old Mutual Financial Disclosure Supplement For the six months ended 30 June 2008 Contents Page Page 1.0 Old Mutual Group 4.0 South Africa - OMSA and other 1.1 Explanatory notes 2 4.1 Long term business

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q3 2014 Q3 2015 % change 9m 2014 9m 2015 % change Revenue 636 661 3.9% 1,909 1,974 3.4% Cost of sales (440) (453) 3.0% (1,324) (1,340) 1.2% Gross

More information

THE EMPIRE LIFE INSURANCE COMPANY

THE EMPIRE LIFE INSURANCE COMPANY THE EMPIRE LIFE INSURANCE COMPANY Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2013 Unaudited Issue Date: August 9, 2013 These condensed interim consolidated financial

More information

Execution of strategy

Execution of strategy Execution of strategy Alex Wynaendts CEO AEGON Jan Nooitgedagt CFO AEGON Analyst & Investor Conference New York City, 6 & 7 December, 2011 Key messages Strong capital position driven by improved risk profile

More information

ING Insurance. Update on preparations for the IPO of ING Insurance. Dorothee van Vredenburch Member of the Management Board Insurance EurAsia

ING Insurance. Update on preparations for the IPO of ING Insurance. Dorothee van Vredenburch Member of the Management Board Insurance EurAsia ING Insurance Update on preparations for the IPO of ING Insurance Dorothee van Vredenburch Member of the Management Board Insurance EurAsia London 19 September 2013 www.ing.com Key points We focus on improving

More information

NN Group Company profile. February 2015

NN Group Company profile. February 2015 NN Group Company profile February 2015 Leading Dutch insurer with strong businesses in European insurance, investment management and Japan Geographical reach Some facts and figures The Netherlands Leading

More information

The Hague November 13, 2014 Aegon s earnings impacted by assumption changes and model updates

The Hague November 13, 2014 Aegon s earnings impacted by assumption changes and model updates The Hague November 13, 2014 Aegon s earnings impacted by assumption changes and model updates o Outcome of annual assumptions review impacts underlying earnings Underlying earnings amount to EUR 291 million,

More information

American International Group, Inc.

American International Group, Inc. Financial Supplement First Quarter 2012 This report should be read in conjunction with AIG s Report on Form 10-Q for the quarter ended March 31, 2012 filed with the Securities and Exchange Commission.

More information

Consolidated Financial Summary under IFRS for the fiscal year ending March 31, 2015 (April 1, 2014 - March 31, 2015)

Consolidated Financial Summary under IFRS for the fiscal year ending March 31, 2015 (April 1, 2014 - March 31, 2015) Monex Group, Inc. Consolidated Financial Summary under IFRS for the fiscal year 2015 (April 1, 2014 - March 31, 2015) This is an English translation of Japanese report of the consolidated financial summary

More information

Summarised annual financial statements

Summarised annual financial statements 79 Summarised annual financial statements The summary presented on pages 81 to 85 of this report has been extracted from the audited annual consolidated financial statements. This report is itself not

More information

FINANCIAL SUPPLEMENT December 31, 2015

FINANCIAL SUPPLEMENT December 31, 2015 FINANCIAL SUPPLEMENT December 31, 2015 Monster Worldwide, Inc. (together with its consolidated subsidiaries, the Company, Monster, we, our or us ) provides this supplement to assist investors in evaluating

More information

Aegon reports. Q1 2015 Results. The Hague May 13, 2015

Aegon reports. Q1 2015 Results. The Hague May 13, 2015 Aegon reports Q1 2015 Results The Hague May 13, 2015 Alex Wynaendts CEO Darryl Button CFO Earnings impacted by adverse claims experience Underlying earnings impacted by adverse claims experience and low

More information

Strong results create solid foundation for an independent future

Strong results create solid foundation for an independent future a.s.r. interim results 2015 Strong results create solid foundation for an independent future Chris Figee Jack Julicher CFO CIO Financial Markets 27 August 2015 Disclaimer Cautionary note regarding forward-looking

More information

& Embedded value 2009

& Embedded value 2009 First quarter 2010 results & Embedded value 2009 Jan Nooitgedagt, CFO Analyst & Investor presentation May 12, 2010 Key messages o Further improvement of underlying earnings o Continued execution of strategy

More information

KOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements

KOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements Consolidated Financial Statements December 31, 2015 (With Independent Auditors Report Thereon) Contents Page Independent Auditors Report 1 Consolidated Statements of Financial Position 3 Consolidated Statements

More information

Q2 2014 SHAREHOLDERS REPORT SUN LIFE FINANCIAL INC. For the period ended June 30, 2014. sunlife.com

Q2 2014 SHAREHOLDERS REPORT SUN LIFE FINANCIAL INC. For the period ended June 30, 2014. sunlife.com Q2 2014 SHAREHOLDERS REPORT SUN LIFE FINANCIAL INC. For the period ended June 30, 2014 sunlife.com CANADIAN RESIDENTS PARTICIPATING IN THE SHARE ACCOUNT Shareholders holding shares in the Canadian Share

More information

Notes to the consolidated financial statements continued

Notes to the consolidated financial statements continued 195 plc 4 Segmental information The Group s results can be segmented, either by activity or by geography. Our primary reporting format is on regional reporting lines, with supplementary information given

More information

ING Bank N.V. Certificates Programme

ING Bank N.V. Certificates Programme FOURTH SUPPLEMENT DATED 9 MAY 2014 UNDER THE CERTIFICATES PROGRAMME ING Bank N.V. (Incorporated in The Netherlands with its statutory seat in Amsterdam) Certificates Programme This Supplement (the Supplement

More information

Aegon / Transamerica: The Implications of Living to 100 and Beyond

Aegon / Transamerica: The Implications of Living to 100 and Beyond Aegon / Transamerica: The Implications of Living to 100 and Beyond Boca Raton, FL March 3, 2014 David Hopewell CFO Individual Savings & Retirement Transamerica Significant opportunities in the variable

More information

GENERALI GROUP 1Q 2016 Results

GENERALI GROUP 1Q 2016 Results GENERALI GROUP 1Q 2016 Results The like for like change of written premiums, life net inflows, APE and NBV is on equivalent terms (on equivalent exchange rates and consolidation area). Agenda 2 I. Profit

More information

GE Capital. Second quarter 2012 supplement

GE Capital. Second quarter 2012 supplement GE Capital Second quarter supplement Results are unaudited. This document contains forward-looking statements that is, statements related to future, not past, events. In this context, forward-looking statements

More information

ING posts 2013 underlying net profit of EUR 3,255 million

ING posts 2013 underlying net profit of EUR 3,255 million CORPORATE COMMUNICATIONS PRESS RELEASE 2 February 204 ING posts 203 underlying net profit of EUR 3,255 million ING Group full-year 203 underlying net profit of EUR 3,255 million, up 22.2% from full-year

More information

1-3Q of FY2014 87.43 78.77 1-3Q of FY2013 74.47 51.74

1-3Q of FY2014 87.43 78.77 1-3Q of FY2013 74.47 51.74 January 30, 2015 Resona Holdings, Inc. Consolidated Financial Results for the Third Quarter of Fiscal Year 2014 (Nine months ended December 31, 2014/Unaudited) Code number: 8308 Stock

More information

Notes to the 2008 Full financial statements continued

Notes to the 2008 Full financial statements continued 30 CHANGES IN EQUITY, SHARE PREMIUM AND RESERVES Year ended 31 December 2008 Year ended 31 December 2007 Attributable Outside Total Attributable Outside Total to interests to interests shareholders shareholders

More information

DECISION ON THE METHOD OF VALUATION OF ASSETS FOR INSURANCE COMPANIES

DECISION ON THE METHOD OF VALUATION OF ASSETS FOR INSURANCE COMPANIES Pursuant to Articles 89 and 177 item 4 of the Law on Insurance (Official Gazette of the Republic of Montenegro 78/06 and 19/07) and Article 6 of the Rulebook on the Manner of Determining and Monitoring

More information

Unaudited Condensed Interim Financial Statements for the six months period ended 30 June 2015

Unaudited Condensed Interim Financial Statements for the six months period ended 30 June 2015 (9557 T) Unaudited Condensed Interim Financial Statements for the six months period ended 30 June 2015 CONTENTS PAGES Unaudited interim statement of financial position 1 Unaudited interim income statement

More information

American International Group, Inc.

American International Group, Inc. Financial Supplement First Quarter 2016 All financial information in this document is unaudited. This report should be read in conjunction with AIG s Report on Form 10-Q for the quarter ended March 31,

More information

Financial Data Supplement 4Q2011

Financial Data Supplement 4Q2011 Deutsche Bank Financial Data Supplement 4Q2011 20 March 2012 4Q2011 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Consolidated Statement of Income 3 Net revenues 4 Net interest

More information

Financial Results. siemens.com

Financial Results. siemens.com s Financial Results Fourth Quarter and Fiscal 2015 siemens.com Key figures (in millions of, except where otherwise stated) Volume Q4 % Change Fiscal Year % Change FY 2015 FY 2014 Actual Comp. 1 2015 2014

More information

CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002

CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002 CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002 Unaudited Unaudited Note Turnover 2 5,576 5,803 Other net losses (1) (39) 5,575 5,764 Direct costs and operating expenses (1,910)

More information

Interim Financial Report 2015

Interim Financial Report 2015 Interim Financial Report 2015 ABN AMRO Bank N.V. Notes to the reader Introduction This is the Interim Financial Report for the year 2015 of ABN AMRO Bank N.V. (ABN AMRO Bank). ABN AMRO Bank N.V. is a wholly

More information

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 The Board of Abbey plc reports a profit before taxation of 18.20m which compares with a profit of 22.57m for

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q3 2013 Q3 2014 % change 9m 2013 9m 2014 % change Revenue 689 636-7.7% 2,126 1,909-10.2% Cost of sales (497) (440) -11.5% (1,520) (1,324) -12.9%

More information

30 Sep 30 Sep 31 Dec 2015 2014 2014 N'million N'million N'million NOTE Gross Earnings 106,570 96,023 132,401

30 Sep 30 Sep 31 Dec 2015 2014 2014 N'million N'million N'million NOTE Gross Earnings 106,570 96,023 132,401 STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND SHAREHOLDERS ON THE BANK'S UNAUDITED RESULTS FOR THE PERIOD ENDED 31ST SEP 2015 INCOME STATEMENT FOR THE PERIOD ENDED 30 SEPTEMBER, 2015 30 Sep 30 Sep 31 Dec

More information

Transform, innovate, diversify Case study Italy, Spain, Poland ING Investor Day Brunon Bartkiewicz Head Retail Banking International, Rest of Europe

Transform, innovate, diversify Case study Italy, Spain, Poland ING Investor Day Brunon Bartkiewicz Head Retail Banking International, Rest of Europe Transform, innovate, diversify Case study Italy, Spain, Poland ING Investor Day Brunon Bartkiewicz Head Retail Banking International, Rest of Europe Amsterdam - 31 March 2014 www.ing.com Key messages A

More information

November 4, 2015 Consolidated Financial Results for the Second Quarter of Fiscal Year 2015 (From April 1, 2015 to September 30, 2015) [Japan GAAP]

November 4, 2015 Consolidated Financial Results for the Second Quarter of Fiscal Year 2015 (From April 1, 2015 to September 30, 2015) [Japan GAAP] November 4, 2015 Consolidated Financial Results for the Second Quarter of Fiscal Year 2015 (From April 1, 2015 to September 30, 2015) [Japan GAAP] Company Name: Idemitsu Kosan Co., Ltd. (URL http://www.idemitsu.com)

More information

Second Quarter 2013 Results ING posts underlying net profit of EUR 942 mln

Second Quarter 2013 Results ING posts underlying net profit of EUR 942 mln Second Quarter 2013 Results ING posts underlying net profit of EUR 942 mln Jan Hommen CEO Amsterdam 7 August 2013 www.ing.com Key points Good progress on restructuring U.S. IPO launched Double leverage

More information

Aegon reports first quarter 2015 results

Aegon reports first quarter 2015 results The Hague May 13, 2015 Aegon reports first quarter 2015 results o Earnings impacted by adverse claims experience Underlying earnings decrease to EUR 469 million as fee business growth and the stronger

More information

Financial Data Supplement 2Q2013

Financial Data Supplement 2Q2013 Deutsche Bank Financial Data Supplement 2Q2013 30 July 2013 1 2 2Q2013 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Group Core Bank Non-Core Operations Unit 3 Consolidated Statement

More information

Standard Life plc Half year results 2015 4 August 2015

Standard Life plc Half year results 2015 4 August 2015 Standard Life plc Half year results 2015 4 August 2015 Focus on fee business driving growth and performance Fee based revenue, including Ignis, up 17% to 761m with 95% of income now fee based Assets under

More information

Guide to Financial Reporting In Irish Life & Permanent plc European Embedded Value and IFRS

Guide to Financial Reporting In Irish Life & Permanent plc European Embedded Value and IFRS Guide to Financial Reporting In Irish Life & Permanent plc European Embedded Value and IFRS This guide to financial reporting is designed to help investors and other users of our financial statements to

More information

REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR

REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR EFFECTS OF THE TRANSITION TO IFRS ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER

More information

Manulife Investor Day 2015 Delivering Results and Preparing for the Future

Manulife Investor Day 2015 Delivering Results and Preparing for the Future C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK:945 Manulife Investor Day 2015 Delivering Results and Preparing for the Future New supplemental disclosures introduced to reflect Manulife s strategic

More information

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET. ASSETS Unaudited Current Audited Previous Dipnot I- Current Assets

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET. ASSETS Unaudited Current Audited Previous Dipnot I- Current Assets ASSETS Unaudited Current Audited Previous Dipnot I- Current Assets A- Cash and Cash Equivalents 14 2.364.314.943 2.304.904.212 1- Cash 14 38.784 18.864 2- Cheques Received 3- Banks 14 1.961.058.269 1.937.834.876

More information

Central & Eastern Europe Executing our strategy

Central & Eastern Europe Executing our strategy Central & Eastern Europe Executing our strategy Analyst & Investor Conference, London June 19, 2013 Gábor Kepecs Management Board Member Chief Executive Officer CEE Michal Biedzki Chief Executive Officer

More information

Anadolu Hayat Emeklilik Anonim Şirketi Consolidated Balance Sheet As At 31 December 2015 (Currency: Turkish Lira (TRY))

Anadolu Hayat Emeklilik Anonim Şirketi Consolidated Balance Sheet As At 31 December 2015 (Currency: Turkish Lira (TRY)) Consolidated Balance Sheet As At ASSETS I- Current Assets A- Cash and Cash Equivalents 14 302,999,458 216,428,429 1- Cash 14 3,385 27,952 2- Cheques Received 3- Banks 14 145,598,543 87,301,020 4- Cheques

More information

Financial supplement (unaudited) 2014. Zurich Insurance Group Annual Report 2014

Financial supplement (unaudited) 2014. Zurich Insurance Group Annual Report 2014 Financial supplement (unaudited) 204 Zurich Insurance Group Annual Report 204 2 Contents Results for the year ended December 3, 204 Financial supplement (unaudited) Financial highlights (unaudited) Business

More information

STANDARD CHARTERED BANK KENYA LIMITED CONSOLIDATED PROFIT AND LOSS STATEMENT

STANDARD CHARTERED BANK KENYA LIMITED CONSOLIDATED PROFIT AND LOSS STATEMENT CONSOLIDATED PROFIT AND LOSS STATEMENT II PROFIT AND LOSS ACCOUNT 31.12.2010 31.12.2011 1 INTEREST INCOME 1.1 Loans and advances 5,995,619 9,546,532 1.2 Government securities 3,660,676 2,240,570 1.3 Deposits

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q2 2012 Q2 2013 % H1 2012 H1 2013 % Restated * change Restated * change Revenue 779 732-6.0% 1,513 1,437-5.0% Cost of sales (553) (521) -5.8%

More information

5N PLUS INC. Condensed Interim Consolidated Financial Statements (Unaudited) For the three month periods ended March 31, 2016 and 2015 (in thousands

5N PLUS INC. Condensed Interim Consolidated Financial Statements (Unaudited) For the three month periods ended March 31, 2016 and 2015 (in thousands Condensed Interim Consolidated Financial Statements (Unaudited) (in thousands of United States dollars) Condensed Interim Consolidated Statements of Financial Position (in thousands of United States dollars)

More information

Gjensidige Insurance Group Q4 2008 and preliminary 2008

Gjensidige Insurance Group Q4 2008 and preliminary 2008 Gjensidige Insurance Group Q4 2008 and preliminary 2008 Disclaimer The information contained herein has been prepared by and is the sole responsibility of Gjensidige Forsikring BA ( the Company ). Such

More information

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows Contents Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows Paragraphs OBJECTIVE SCOPE 1 3 BENEFITS OF CASH FLOW INFORMATION 4 5 DEFINITIONS 6 9 Cash and cash equivalents 7 9 PRESENTATION OF

More information

Asset Management Executing our strategy

Asset Management Executing our strategy Asset Management Executing our strategy Analyst & Investor Conference, London June 19, 2013 Sarah Russell Chief Executive Officer Asset Management Philip Smith Chief Financial Officer Asset Management

More information

Earnings Release Q2 FY 2015 January 1 to March 31, 2015

Earnings Release Q2 FY 2015 January 1 to March 31, 2015 Munich, Germany, May 7, 2015 Earnings Release FY 2015 January 1 to March 31, 2015 Portfolio gains drive income»for business volume, we performed well in our markets. The profitability of our Industrial

More information

Significant reduction in net loss

Significant reduction in net loss press release 12 May 2015 Royal Imtech publishes first quarter 2015 results Significant reduction in net loss Order intake in Q1 at a satisfactorily level of 912 million Revenue 3% down excluding Germany

More information

15 April 2015 Kurt Svoboda, CFRO. UNIQA Insurance Group AG Economic Capital and Embedded Value 2014

15 April 2015 Kurt Svoboda, CFRO. UNIQA Insurance Group AG Economic Capital and Embedded Value 2014 15 April 2015 Kurt Svoboda, CFRO UNIQA Insurance Group AG Economic Capital and Embedded Value 2014 Economic Capital Embedded Value Sensitivities and other analysis Appendix Assumptions Glossary & Disclaimer

More information

Life & Protection. Scott Ham CEO. John Hunter COO. Analyst & Investor Conference

Life & Protection. Scott Ham CEO. John Hunter COO. Analyst & Investor Conference Life & Protection Scott Ham CEO John Hunter COO Analyst & Investor Conference New York City, December 2010 Key messages Grow profitable new sales Leverage expertise to increase recruiting and expand existing

More information

GrandVision reports Revenue growth of 13.8% and EPS growth of 31.7%

GrandVision reports Revenue growth of 13.8% and EPS growth of 31.7% GrandVision reports Revenue of 13.8% and EPS of 31.7% Schiphol, the Netherlands 16 March 2015. GrandVision NV (EURONEXT: GVNV) publishes Full Year and Fourth Quarter 2015 results. 2015 Highlights Revenue

More information

OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report. OP Mortgage Bank Interim Report for January March 2016

OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report. OP Mortgage Bank Interim Report for January March 2016 OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report OP Mortgage Bank Interim Report for January March 2016 OP Mortgage Bank (OP MB) is part of OP Financial Group and its role is to raise,

More information

Alleanza Assicurazioni. 2006 First Half Results

Alleanza Assicurazioni. 2006 First Half Results Alleanza Assicurazioni 2006 First Half Results September 5th, 2006 A Member of the Generali Group Disclaimer This presentation is focused on the development of Alleanza s insurance business in 1H2006 We

More information

Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009

Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009 Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009 Table of Contents 1. Financial Highlights 3 2. Consolidated Financial Statements of Fortis

More information

Consolidated financial statements 2014. Zurich Insurance Group Annual Report 2014

Consolidated financial statements 2014. Zurich Insurance Group Annual Report 2014 Consolidated financial statements 2014 Annual Report 2014 2 Annual results 2014 Consolidated financial statements Contents Consolidated income statements 3 Consolidated statements of comprehensive income

More information

Financial Information Package for the Fourth Quarter 2004. As at December 31, 2004

Financial Information Package for the Fourth Quarter 2004. As at December 31, 2004 Financial Information Package for the Fourth Quarter 2004 As at December 31, 2004 TABLE OF CONTENTS PAGE HIGHLIGHTS 1 PROFITABILITY 3 Profit (2003 restated) Return on common shareholders' equity (2003

More information

Results PostNL Q3 2014

Results PostNL Q3 2014 Results PostNL Q3 2014 The Hague, 3 November 2014 PostNL reports solid Q3 2014 results Financial highlights Q3 2014 Revenue increased to 988 million (Q3 2013: 969 million) Underlying cash operating income

More information

Quarterly Financial Supplement - 1Q 2016

Quarterly Financial Supplement - 1Q 2016 Quarterly Financial Supplement - 1Q 2016 Page # Consolidated Financial Summary... 1 Consolidated Income Statement Information... 2 Consolidated Financial Information and Statistical Data... 3 Consolidated

More information

Consolidated Statements of Profit or Loss Ricoh Company, Ltd. and Consolidated Subsidiaries For the Years Ended March 31, 2014 and 2015

Consolidated Statements of Profit or Loss Ricoh Company, Ltd. and Consolidated Subsidiaries For the Years Ended March 31, 2014 and 2015 Consolidated Statements of Profit or Loss Sales: Products 1,041,794 1,071,446 8,928,717 Post sales and rentals 1,064,555 1,068,678 8,905,650 Other revenue 89,347 91,818 765,150 Total sales 2,195,696 2,231,942

More information

Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP)

Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) November 1, 2012 Sony Financial Holdings Inc. Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) Tokyo, November 1, 2012

More information

Consolidated balance sheet

Consolidated balance sheet 83 Consolidated balance sheet December 31 Non-current assets Goodwill 14 675.1 978.4 Other intangible assets 14 317.4 303.8 Property, plant, and equipment 15 530.7 492.0 Investment in associates 16 2.5

More information

Sri Lanka Accounting Standard-LKAS 7. Statement of Cash Flows

Sri Lanka Accounting Standard-LKAS 7. Statement of Cash Flows Sri Lanka Accounting Standard-LKAS 7 Statement of Cash Flows CONTENTS SRI LANKA ACCOUNTING STANDARD-LKAS 7 STATEMENT OF CASH FLOWS paragraphs OBJECTIVE SCOPE 1 3 BENEFITS OF CASH FLOW INFORMATION 4 5 DEFINITIONS

More information

ANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS

ANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS ANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS ANNEX I.1 PUBLIC BALANCE SHEET ASSETS 1. Cash and balances with central banks 2. Financial assets held for trading 2.1. Loans and advances

More information

GROUP (Unaudited) Three Month Jan Mar. 2015 $000 s. Notes

GROUP (Unaudited) Three Month Jan Mar. 2015 $000 s. Notes TO: THE STOCKHOLDERS OF THE GLEANER COMPANY LIMITED CONSOLIDATED INCOME STATEMENT FOR THREE MONTHS ENDED MARCH 31, 2015 Notes Three Month Jan Mar. 2015 Jan Mar. 2014 Restated (Audited) Twelve Months ended

More information

American International Group, Inc. Financial Supplement Fourth Quarter 2005

American International Group, Inc. Financial Supplement Fourth Quarter 2005 Financial Supplement Fourth Quarter 2005 This report should be read in conjunction with AIG's Annual Report on Form 10-K for the year ended December 31, 2005 filed with the Securities and Exchange Commission.

More information

ING GROUP EMBEDDED VALUE REPORT 2007

ING GROUP EMBEDDED VALUE REPORT 2007 ING GROUP EMBEDDED VALUE REPORT 2007 20 February 2008 Contents Introduction... 1 1. Executive Summary Embedded Value results ING Group life insurance... 3 1.1 Embedded Value results for ING life insurance

More information

Summary of Consolidated Business Results for the First Quarter of Fiscal 2015 For the fiscal year ending May 31, 2016

Summary of Consolidated Business Results for the First Quarter of Fiscal 2015 For the fiscal year ending May 31, 2016 October 9, 2015 Summary of Consolidated Business Results for the First Quarter of Fiscal 2015 For the fiscal year ending May 31, 2016 Toyo Denki Seizo K.K. Stock Exchange: 1st Section of the Tokyo Stock

More information

Solid operating profit in Q1 2016 28 April 2016

Solid operating profit in Q1 2016 28 April 2016 Investor Presentation Solid operating profit in Q1 2016 28 April 2016 Árni Ellefsen, CEO Disclaimer This presentation contains statements regarding future results, which are subject to risks and uncertainties.

More information

GE Financial Assurance Holdings, Inc. (Exact name of registrant as specified in its charter)

GE Financial Assurance Holdings, Inc. (Exact name of registrant as specified in its charter) SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K/A1 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)

More information

Making progress towards our objectives

Making progress towards our objectives Making progress towards our objectives Scotiabank Financials Summit 2013 Donald A. Guloien President and Chief Executive Officer September 5, 2013 Caution regarding forward-looking statements This presentation

More information

Consolidated financial summary

Consolidated financial summary 1-8-1 Marunouchi Chiyoda-ku Tokyo 100-8289, Japan (URL http://www.daiwasmbc.co.jp/) Consolidated financial summary (For fiscal year ended March 31, 2005) April 27, 2005 (1)Consolidated Operating results

More information