Neutral * Based on measurements in our Insurance Europe’s Life businesses, and Life and Pensions in the Netherlands
NN Group’s financial reporting is structured in seven segments. In this Annual Review, these segments are grouped into the following three components: • The segments Netherlands Life,
Looking forward In 2016, the Code of conduct and Manager annex will be rolled out throughout NN Group. The main focus in the roll-out process will remain on raising awareness, on the applicability of standards, and on dilemmas and how to unravel them. The Code of conduct and Manager annex is scheduled to become applicable as of 1 September 2016.
Societal trends as well as business concerns recognised as most material by our stakeholders
To capitalise on these opportunities – as well as the very dynamic environment in which they are created – we are defining industry ‘game changers’ as we move forward. These in turn shape our innovation agenda, which we consider to be a responsive, long-term journey.
When acting upon the trends in our operating environment and executing our strategy, we focus on the core of our business model: to help carry risks for people they can’t bear alone, providing protection to what matters most to them.
With risk management, we do not try to predict the future, but rather manage potential risk. This encompasses all risks to all key business objectives.
Ana María Vázquez, agent of our businesses using NPS, scored on/above market average 19 awards won by NN IP for their customer-focused fund products in Europe and Asia 3 stars For the third consecutive year, NN Life Japan received the highest rating (3 stars) for its after-sales call centre from the Help Desk Institute (HDI).
We are committed to delivering transparent products and services that are easy to understand and meet customers’ lifetime needs.
International Insurance • In Spain, a ‘paperless sales process’, allows agents to perform need-based analyses, prepare a quote, capture the client’s ID with a camera, fill in a complete application form and finalise the insurance contract using digital and biometric signatures. This sales process has reduced new business processing costs by over 80% and will be replicated in other markets.
At NN Group, we want to be known for our customer care. Our employees bring our brand promise ‘You matter’ to life every day. We employ a diverse group of about 11,500 talented and skilled people, and ensure we provide them with the training and development they need. We recognise performance by offering our employees competitive salaries and benefits. Above all, we work hard to create a culture based on our values, as these enable us to be the best we can be, and to continue to build and maintain trust with our stakeholders.
Transparency is a key element in our tax principles. We aim to disclose all relevant facts and circumstances to our local authorities. In the Netherlands, for example, this is embedded in a ‘horizontal monitoring’ approach. By engaging in a proactive manner with tax authorities, we aim to achieve clarity and upfront certainty around tax matters.
To support this goal, and to celebrate the first anniversary of NN Future Matters, in 2015 we made extra donations that totalled EUR 100,000 to local charities in ten markets where we operate. For more information on how NN Future Matters contributes to improving people’s financial well-being, including examples of local activities, refer to the Sustainability Supplement, page 8.
Management Board The Management Board is entrusted with the day-to-day management of NN Group and the overall strategic direction of NN Group.
Total donations to charitable organisations (x EUR 1,000) 1,500 1,072 40% 1,172 1 The solvency ratios are not final until filed with the regulators. Solvency II ratio is based on the Partial Internal Model. 2 Assets under Management include the mortgage portfolio managed on behalf of NN Life and NN Non-life since 2Q14. The comparative figures have been restated accordingly.
All forms of consideration given by NN Group in exchange for service rendered by employees or for the termination of employment.
Retail investors (AR: p. 6, 8) An individual who purchases securities for his or her own personal account rather than for an organisation.