ASR Nederland, the Dutch insurer, announced a positive operating result for the first half of 2023. Both its life and non-life segments contributed to this success.
For the six months ending June 30, the company reported an operating result of €460 million ($500.5 million), compared to a restated €454 million in the previous year. Additionally, ASR Nederland saw a significant turnaround in its net profit, reporting €346 million, in contrast to a net loss of €1.51 billion for the same period last year. The previous year’s loss was due to negative revaluations attributed to interest rates.
Although organic capital creation slightly declined from €428 million to €414 million compared with the previous year, ASR Nederland remained optimistic about its overall performance. The company’s Solvency II ratio, which measures balance-sheet strength, stood at 215%, surpassing consensus expectations of 212%. Furthermore, ASR proposed an interim dividend increase from €0.98 to €1.08.
ASR Nederland is also making progress with its planned merger with Aegon’s Dutch insurance operations. The transaction was completed in July, and the merger of the two legal entities is scheduled for October 1 at the earliest.