NN Group to implement new DNB requirements to reflect NN Bank in the Group Solvency II ratio
(WorldNews Japan)

NN Group has taken note of the Q&A published by the Dutch Central Bank (DNB) today in which DNB revises the required approach to calculating the Solvency II ratio for an insurance-led Financial Conglomerate (FICO) such as NN Group. Under the new approach, NN Group will be required to include NN Bank in the calculation of its Solvency II ratio, as from 31 December 2020. In 2016, DNB designated NN Group as a Financial Conglomerate and, as such, requested NN Group to exclude NN Bank from the NN Group Solvency II ratio. Accordingly, NN Group currently excludes NN Bank from both Group Own Funds and the Group Solvency Capital Requirement. Including NN Bank in the Group Solvency II calculation...