NN Group NV reported fourth-quarter 2017 consolidated net result of €700 million, up from €148 million in the prior-year period.

Basic EPS for the quarter stood at €2.04, compared to 43 cents a year earlier. The Hague, Netherlands-based group primarily attributed the increase in net result to higher capital gains and revaluations and the higher operating result in its ongoing business of €345 million, up from €282 million a year ago, driven by the contribution of the Delta Lloyd NV businesses, which NN Group took over in April 2017.

Gross premium income at the group's ongoing business amounted to €2.80 billion, compared to €2.00 billion in the fourth quarter of 2016. New sales of life insurance increased to €377 million from €298 million.

Result on divestments amounted to €28 million, compared to negative €114 million in the fourth quarter of 2016, partly due to a gain on the sale of NN Life Luxembourg in October 2017 and a provision release following a settlement in arbitration proceedings relating to former insurance subsidiary ING Life Korea in December 2017.

For full year 2017, NN Group's net result reached €2.11 billion, up from the year-ago €1.19 billion. Net operating return on equity increased to 10.3% from 8.1%.

The group's Solvency II ratio stood at 199% at 2017-end, compared to 204% as of Sept. 30, 2016, and 241% at the end of 2016.

The company will propose a final 2017 dividend of €1.04 per share which, combined with the interim dividend, brings the total dividend for the year to €1.66 per share.