Insurer NN (Nationale Nederlanden) estimates that the financial impact of the devastating floods in Belgium and the Netherlands on the results in the second half of the year will be approximately EUR 70 million (before tax, after deduction of external reinsurance). NN announced this on Thursday, in the margins of its quarterly results.
–
In the first six months of 2021, the Dutch insurer posted good results, including a net profit of 1.4 billion euros, significantly higher than the 587 million euros the year before, and an operating result of more than 1.1 billion euros.
• Reinsurers deal with Ageas storm damage
“We saw higher sales at Japan Life and Insurance Europe, with markets recovering as Covid-19 restrictions ease (…). The effects of the pandemic have also revealed deficiencies in protection that affect people’s livelihoods and health. Greater awareness of risks and vulnerability leads to greater demand for such protection products. This has supported the increase in the value of new contracts, which has almost doubled compared to the first six months of 2020,” said CEO David Knibbe.
NN has 1.4 million customers in Belgium, which is fourth in the life insurance business. The roots of the insurer lie with De Vaderlandsche and ING.
– .
