NN Group (NN) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened as a hybrid event, welcoming both in-person and virtual shareholders, with introductions of key board members and external guests, including auditors and notaries.

• Shareholders were convened in accordance with legal requirements, and voting procedures were explained, with voting open throughout the meeting and results to be shown at the end.

• Shareholders could submit questions in advance or during the meeting, and the agenda included financial, sustainability, and governance topics.

Financial performance review

• Strong business performance in 2024, with operating capital generation (OCG) exceeding EUR 1.9 billion, meeting the 2025 target a year early.

• Free cash flow increased to EUR 1.5 billion, up 8% year-on-year, and solvency ratio remained robust at 194%.

• Growth was driven by European operations, especially in Greece, Poland, and Romania, and diversification reduced reliance on the Netherlands Life segment.

• Net result increased by over EUR 400 million versus 2023, and the company remains on track to meet 2025 targets.

Board and executive committee updates

• Executive Board base salary to increase by 9% from June 2025, following a comprehensive review and stakeholder engagement.

• Remuneration remains below market median, and variable remuneration was awarded for above-target performance in 2024.

• Reappointments of Inga Beale, Rob Lelieveld, and Cecilia Reyes to the Supervisory Board were proposed and later approved.