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Better nonlife segment results boost ASR Nederland's H1 earnings

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Better nonlife segment results boost ASR Nederland's H1 earnings

ASR Nederland NV's first-half operating result grew 21% to €459 million from €380 million a year ago.

Operating result per share was €2.27 versus €1.86. The increase was mainly driven by a strongly improved result in the nonlife segment, the company said.

The nonlife segment's operating result jumped year over year to €122 million from €66 million due to a lower impact from calamities and a strong performance in the product line disability insurance. Claims due to storm were €20 million lower compared to a year earlier.

The life segment's operating result went up to €368 million from €340 million, mainly due to higher investment margin.

Net IFRS result increased 46.5% to €540 million from €368 million due to a higher operating result, an incidental result from an acquisition and higher indirect investment income.

Gross written premiums expanded 3.0% to €2.58 billion from €2.50 billion. Gross written premiums in the nonlife segment rose 4.3% to €1.79 billion from €1.72 billion, which was attributable to organic growth in all nonlife business lines and the addition of Loyalis.

The nonlife combined ratio came in at 93.5%, versus 96.7% in the prior-year period.

The company's post-dividend Solvency II ratio was 191% as of June 30, versus 197% at the end of 2018.

The board approved an interim dividend of 70 cents per share, up from 65 cents per share a year ago. The payment date is Sept. 6.