NN paid record 770 million RON to insurance and private pension clients in Romania in 2022

NN, leader in the life insurance market, supported its insurance clients and private pension fund participants with record benefits and payments totaling more than 770 million RON last year.

In the life and health insurance segment, NN Asigurari de Viata recorded gross written premiums of approximately 970 million RON in 2022, up from 940 million RON the previous year, unaudited financial data shows.

In 2022, NN Asigurari de Viata supported clients and paid record insurance benefits of more than 559 million RON, up by 16 percent from 2021, of which approximately 80 million RON were benefits for insured events and 479 million RON were benefits for redemptions and maturities. The liquidity ratio recorded last year was 2.61 and the solvency rate reported according to Solvency II was 203 percent, confirming the company’s financial stability and capacity to hold its obligations to clients. At the same time, the company increased its footprint in the economy through total contributions of approximately 68 million RON paid to the state budget, 23 percent above the previous year’s level.

”2022 was a year that reminded us all once again how important it is to take care of ourselves, of our loved ones and of what truly matters. Through everything we do, at NN we aim to be a real support to the more than 2.2 million Romanians who rely on us in their efforts to secure a better financial future. The company’s development reconfirms that we have a solid financial foundation and a good position to continue our mission of being there for people when they need most, always offering relevant insurance and private pension solutions that protect what matters to them”, said Gerke Witteveen, Chief Financial Officer at NN.

NN Asigurari de Viata managed financial assets worth 4.45 billion RON in 2022, close to the amount recorded at the end of the previous year as a result of efforts to attenuate effects of the financial markets’ volatility on insurance with an investment component. The company closed 2022 with a gross profit of 106 million RON, according to the unaudited financial results, 23.7 percent above the previous year’s level which was marked by a higher volume of investments in digital transformation.

In the voluntary private pension segment managed by NN Asigurari de Viata, the company continued to support clients save more for retirement. Net assets under management surpassed the 2 billion RON level at the end of last year, cumulated for NN Activ and NN Optim funds, 7.1 percent above the level in 2021, representing a 55.4 percent market share according to Financial Supervisory Authority data. The two funds cumulatively exceeded 300,000 participants at the end of last year, equivalent to almost 48 percent of the total number of Pillar III participants. NN Asigurari de Viata also supported participants of the two funds who met the requirements to benefit from their Pillar III pension and paid a total of more than 53 million in 2022, according to unaudited financial data.

At the same time, in the mandatory private pensions segment managed by NN Pensii, 2022 was closed with net assets under management of 33 billion RON, 6.2 percent above the level at the end of 2021, representing a 34.3 percent market share, according to Financial Supervisory Authority data. The fund managed by NN Pensii had 2.08 million participants at the end of last year, equivalent to 26.2 percent of the total number of Pillar II participants and paid almost 160 million RON to those who qualified in 2022 to benefit from the amounts accumulated in their Pillar II private pension account.