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Dutch insurer offering non-life, life insurance and pensions, formed from the former state-owned insurer.
Dutch insurer offering non-life, life insurance and pensions, formed from the former state-owned insurer.
Earns from the gap between premiums collected and claims paid, plus returns on the investments held against future claims, with fees on pension management. Buying Aegon's Dutch business in 2023 made it one of the Netherlands' largest life and pension insurers, and left Aegon as a significant minority shareholder.
In one line: A Dutch Progressive/MetLife hybrid.
Moat: narrow (scale, distribution, brand). Established Dutch distribution (brokers/banks) and scale in a mature, consolidated home market.
Headquarters: Utrecht, Netherlands · Founded: 1720 · Employees: 9,718
Size ASR Nederland (ASRNL.AS) is a Netherlands Financials company (Multi-Line Insurance) with a market value of $17.3B, the 17th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €77.26 on 6 Nov 2026.
Performance Over six months the shares gained 13.9%, against +8.4% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 6.1% over the last twelve months (peer median +7.9%); the operating margin is 41.9% (peer median 9.4%).
Valuation It trades at 1.74× book value against a peer median of 1.78× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 8.3%; ASR Nederland delivers 13.1%, so the price asks less than the business earns today.
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €20.5B | €21.2B | €16.4B | €12.8B | €19.4B |
| Revenue growth | — | +30% | +28% | -34% | — |
| Net income | €1.14B | €475M | €895M | €1.04B | -€1.76B |
| Free cash flow | €1.34B | -€587M | -€724M | €3.57B | -€1.14B |
| Capital expenditure | €51.0M | €32.0M | €30.0M | €34.0M | €190M |
| Total debt | n/a | €10.4B | €11.7B | €13.9B | €3.20B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| ASR Nederland ASRNL.AS | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% |
| NN Group N.V. NN.AS | $22.4B | +4% | +39% | 9% | 1.08× | 6.9% |
| Aegon AGN.AS | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% |
| Allianz ALV.DE | $192B | +19% | +21% | 21% | 2.98× | 16.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASRNL.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.3% | +4.0% | 7th highest of 21 |
| 6-month return | +13.9% | +8.4% | 8th highest of 21 |
| Return on equity | 13.2% | 16.9% | 10th lowest of 21 |
| Price / book | 1.74× | 1.78× | 10th cheapest of 21 |
| Trailing P/E | 14.6× | 12.5× | 10th most expensive of 20 |
| ROE the price implies | 8.3% | 11.6% | 5th least demanding of 21 |
| ROE delivered | 13.1% | 16.9% | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| ASR Nederland ASRNL.AS | Netherlands | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% | 13.1% |
| Powszechny Zaklad Ubezpieczen Spolka Akcyjna PZU.WA | Poland | $16.1B | +15% | +1% | 20% | 1.83× | 19.5% | 19.5% |
| Brookfield Wealth Solutions BNT.TO | Canada | $14.9B | -8% | -18% | 1% | 0.70× | 9.4% | 0.7% |
| Suncorp SUN.AX | Australia | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% | 9.8% |
| Gjensidige Forsikring GJF.OL | Norway | $14.7B | +9% | +7% | 30% | 5.73× | 19.1% | 29.9% |
| Mapfre MAP.MC | Spain | $14.1B | -2% | +5% | 12% | 1.26× | 8.4% | 12.4% |
| New China Life Insurance 1336.HK | Hong Kong | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% | 42.3% |
| Legal & General LGEN.L | United Kingdom | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% | 26.2% |
| CNA Financial CNA | United States | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% | 9.6% |
| Aegon AGN.AS | Netherlands | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% | 10.5% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |
| Unum UNM | United States | $12.2B | -5% | -5% | 3% | 1.52× | 8.1% | 2.6% |
| Globe Life GL | United States | $12.1B | +4% | +6% | 21% | 2.08× | 11.7% | n/a |
| Aditya Birla Capital ABCAPITAL.NS | India | $11.5B | +8% | +24% | 12% | 2.56× | 41.9% | 12.1% |
| Helvetia Baloise HBAN.SW | Switzerland | $27.0B | +5% | +54% | 4% | 1.80× | 4.8% | 4.0% |
| W. R. Berkley WRB | United States | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% | 19.2% |
| Cincinnati Financial CINF | United States | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% | 16.9% |
| Aviva AV..L | United Kingdom | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% | 6.8% |
| Prudential 2378.HK | Hong Kong | $30.8B | -24% | +30% | 19% | 1.54× | 11.3% | 19.3% |
| Prudential plc Sponsored ADR PUK | United States | $31.7B | -21% | +39% | 19% | 1.56× | 11.4% | 19.2% |
| Kinsale Capital KNSL | United States | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% | 27.8% |