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Dutch life insurer and asset manager with operations across the Netherlands, Japan and Central/Eastern Europe.
Dutch life insurer and asset manager with operations across the Netherlands, Japan and Central/Eastern Europe.
Earns the margin on long-term life and pension policies, investment returns on premiums held, and fees from managing assets, with the Dutch life and pension business the core and Central and Eastern Europe, Japan and Belgium other legs. Floated from ING in 2014, it bought Delta Lloyd in 2017 and MetLife's Poland and Greece operations in 2022.
In one line: A Dutch MetLife/Prudential.
Moat: narrow (scale, distribution, brand). Large in-force policy book and bank/broker distribution in a mature, low-growth Dutch market.
Headquarters: The Hague, Netherlands · Founded: 2014 · Employees: 16,188
Size NN Group N.V. (NN.AS) is a Netherlands Financials company (Life/Health Insurance) with a market value of $22.4B, the 14th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €79.18 on 6 Nov 2026.
Performance Over six months the shares gained 3.9%, against +20.6% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 39.0% over the last twelve months (peer median +9.6%); the operating margin is 46.6% (peer median 8.5%).
Valuation It trades at 1.08× book value against a peer median of 1.40× (5th cheapest of 20).
Price implies The share price implies a return on equity of about 6.9%; NN Group N.V. delivers 9.2%, so the price asks less than the business earns today.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €23.7B | €18.8B | €20.2B | €19.3B | €6.77B |
| Revenue growth | — | -7% | +5% | +185% | — |
| Net income | €1.78B | €1.11B | €1.52B | €1.12B | €514M |
| Free cash flow | -€2.37B | -€2.35B | -€401M | €62.0M | -€8.12B |
| Capital expenditure | €0 | €0 | €0 | €0 | €0 |
| Total debt | n/a | €15.7B | €13.5B | €15.5B | €17.2B |
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 |
|---|---|---|---|---|---|---|
| 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% |
| ASR Nederland ASRNL.AS | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% |
| Allianz ALV.DE | $192B | +19% | +21% | 21% | 2.98× | 16.0% |
| Axa CS.PA | $103B | +13% | +11% | 19% | 2.24× | 17.8% |
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 | NN.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | +2.2% | 7th highest of 21 |
| 6-month return | +3.9% | +20.6% | 6th lowest of 21 |
| Return on equity | 9.2% | 12.9% | 7th lowest of 21 |
| Price / book | 1.08× | 1.40× | 5th cheapest of 20 |
| Trailing P/E | 11.7× | 12.9× | 10th cheapest of 20 |
| ROE the price implies | 6.9% | 9.2% | 5th least demanding of 19 |
| ROE delivered | 9.2% | 13.4% | 5th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| NN Group N.V. NN.AS | Netherlands | $22.4B | +4% | +39% | 9% | 1.08× | 6.9% | 9.2% |
| SBI Life Insurance SBILIFE.NS | India | $18.9B | -5% | +18% | 14% | 8.72× | 105.4% | 13.7% |
| Kgi Financial 2883.TW | Taiwan | $17.3B | +60% | +32% | 14% | 1.33× | 7.1% | 14.4% |
| Reinsurance Group of America RGA | United States | $17.1B | +24% | +20% | 12% | 1.25× | 8.0% | 11.7% |
| Samsung Life 032830.KS | South Korea | $31.0B | -6% | +13% | 3% | 0.29× | 4.5% | 3.2% |
| Bajaj Finserv BAJAJFINSV.NS | India | $31.6B | +2% | +17% | 13% | 3.55× | 54.3% | 13.3% |
| Swiss Life SLHN.SW | Switzerland | $33.0B | +14% | 0% | 20% | 4.25× | 15.4% | 20.0% |
| Corebridge Financial CRBG | United States | $14.9B | +25% | +10% | 22% | 2.41× | 19.3% | 21.7% |
| Equitable EQH | United States | $14.1B | +24% | +6% | -183% | n/a | n/a | n/a |
| T&d 8795.T | Japan | $14.0B | +21% | +6% | 9% | 1.32× | 5.6% | 9.3% |
| Talanx TLX.DE | Germany | $37.6B | +24% | +2% | 20% | 2.33× | 10.2% | 19.8% |
| HDFC Life Insurance HDFCLIFE.NS | India | $13.0B | -10% | +19% | 11% | 6.31× | 72.0% | 11.2% |
| Daiichi Life 8750.T | Japan | $39.0B | +18% | +17% | 14% | 1.34× | 8.1% | 13.6% |
| Japan Post Hldgs 6178.T | Japan | $39.0B | +24% | 0% | 5% | 0.62× | 4.4% | 4.5% |
| Hannover Rueck HNR1.DE | Germany | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% | 22.4% |
| Standard Life SDLF.L | United Kingdom | $12.5B | +25% | +135% | -179% | 38.09× | n/a | -179.3% |
| Prudential Financial PRU | United States | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% | 12.6% |
| JAPAN POST INSURANCE 7181.T | Japan | $11.2B | +8% | -6% | 4% | 0.38× | 2.9% | 4.2% |
| Cathay Financial Hldg 2882.TW | Taiwan | $47.0B | +42% | -16% | 15% | 1.40× | 7.0% | 14.6% |
| Medibank Private MPL.AX | Australia | $9.94B | +14% | +9% | 27% | 5.90× | 23.8% | 26.8% |
| Life Insurance Corp. of India LICI.NS | India | $53.0B | -3% | +11% | 7% | 0.68× | 11.8% | n/a |