Mission Statement, Vision, & Core Values (2025) of NN Group N.V.

An Overview of NN Group N.V.

General Summary of NN Group N.V.

NN Group N.V. is a prominent financial services provider based in the Netherlands, established in 1845. The company focuses on insurance, asset management, and banking services, primarily catering to clients in Europe and Japan. NN Group operates through various segments, including Life Insurance, Non-life Insurance, and Investment Management.

As of 2024, NN Group reported total revenues of €10.5 billion, marking a significant increase from previous years. The company offers a wide range of products, including life insurance, pension products, accident and health insurance, and investment funds.

Company's Financial Performance in Latest Financial Reports

In its latest financial report for Q1 2024, NN Group achieved record-breaking revenue driven by strong performance in its Life Insurance segment, which accounted for approximately 70% of total revenue. The company reported a net profit of €1.2 billion, representing a 15% increase year-over-year.

Key financial highlights from the report include:

• Total revenue: €10.5 billion
• Net profit: €1.2 billion
• Return on equity: 14%
• Solvency II ratio: 210%

Sales growth was particularly driven by the Non-life Insurance segment, which grew by 12% compared to the previous year. Additionally, NN Group expanded its market presence in Eastern Europe, achieving a 25% increase in policyholders in that region.

Company as a Leader in the Industry

NN Group N.V. stands out as one of the leading companies in the financial services industry, recognized for its comprehensive approach to insurance and asset management. The company's strong financial performance, robust product offerings, and commitment to sustainability underpin its success in a competitive landscape.

To understand why NN Group is successful, consider its strategic focus on customer-centric solutions and innovative product development. The company continually invests in digital transformation, enhancing its service delivery to clients while improving operational efficiency.

Mission Statement of NN Group N.V.

Mission Statement of NN Group N.V.

NN Group N.V.'s mission statement articulates its commitment to providing high-quality insurance and investment services, ensuring the financial well-being of its customers. This mission is a crucial element that steers the company toward achieving its long-term objectives, aligning its business strategies with the expectations of various stakeholders.

Core Component 1: Customer Centricity

The first core component of NN Group's mission statement is **customer centricity**. The company aims to understand and meet the diverse needs of its customers by offering tailored solutions. In 2022, NN Group reported a **Net Promoter Score (NPS)** of **38**, indicating strong customer satisfaction and loyalty.

To enhance customer experience, NN has invested significantly in digital solutions. As of Q3 2023, approximately **45%** of new policies are sold through digital channels, reflecting the firm’s commitment to improving accessibility and convenience.

Core Component 2: Innovation and Sustainability

The second component is **innovation and sustainability**. NN Group recognizes the importance of sustainable practices in its operations. In 2022, the company allocated **€1.5 billion** to sustainable investments, representing **10%** of its total investment portfolio. This aligns with the firm’s goal to integrate Environment, Social, and Governance (ESG) criteria into its business model.

Additionally, NN Group has set a target to reduce carbon emissions in its investment portfolio by **20%** by **2025**, supporting the global movement towards a greener economy.

Core Component 3: Employee Engagement and Development

The third core component emphasizes **employee engagement and development**. NN Group believes that a motivated workforce is essential for achieving superior service delivery. As of 2023, the company has invested **€75 million** in employee training programs and development initiatives, aimed at enhancing skills and fostering growth.

The firm reports an **employee satisfaction rate** of **82%**, as indicated in its latest internal survey, which underscores the effectiveness of its talent management strategies.

Vision Statement of NN Group N.V.

Long-Term Aspirations

The vision statement of NN Group N.V. aims for a future where they achieve a robust presence in the European insurance and asset management markets. By 2024, they strive to be recognized as a leading customer-centric organization.

As part of this vision, NN Group is targeting an increase in its customer base by **10%**, focusing on enhancing service quality and product offerings. By expanding its digital capabilities, NN Group aims to improve customer engagement and satisfaction.

Commitment to Sustainability

In alignment with global trends, NN Group N.V. has integrated sustainability into its vision. The company aims to reduce its carbon footprint by **25%** by the year 2025, up from their 2020 levels. NN Group is committed to responsible investing, with over **€250 billion** of assets under management, where **40%** are already invested in sustainable projects.

This sustainable approach supports their vision of contributing positively to society while delivering competitive financial returns.

Technological Innovation

NN Group N.V. envisions operational excellence through technological innovation. The company has allocated **€100 million** in 2024 to enhance its digital infrastructure. This investment includes improvements in artificial intelligence and data analytics capabilities, to better assess customer needs and streamline processes.

The expectation is that technological advancements will lead to a **15%** improvement in operational efficiency by the end of 2024, contributing significantly to their overarching goals.

Growth Targets

The company is setting ambitious growth targets within its vision. NN Group N.V. aims for a compound annual growth rate (CAGR) of **5%** in premiums written through 2024. This growth is to be achieved by expanding their product lines and geographic reach.

In 2023, NN Group reported gross written premiums of **€7.5 billion**. Their vision includes increasing this figure to **€8.2 billion** by the end of 2024, focusing on both organic growth and strategic acquisitions.

Core Values of NN Group N.V.

Customer Centricity

Customer Centricity is central to NN Group N.V.'s operational ethos, emphasizing the importance of understanding and responding to customer needs.

In 2023, NN Group reported a customer satisfaction score of 85%, reflecting its commitment to enhancing the customer experience. The company has implemented initiatives such as the 'NN Customer First Program,' which aims to streamline customer interactions and improve service delivery.

In 2022, NN Group launched a digital transformation initiative that increased online service usage by 40%. This enabled customers easier access to insurance and banking services, representing a significant shift towards a more customer-centric approach.

Integrity

Integrity underpins NN Group's reputation in the financial services industry, fostering trust and transparency in all dealings.

In 2023, NN Group achieved a compliance rate of 96% in regulatory audits, illustrating its commitment to ethical business practices. The company's Code of Conduct outlines clear expectations regarding ethical behavior, which all employees are required to adhere to.

Additionally, NN Group has increased its investments in compliance training programs, with an annual budget of €2 million. This proactive approach to integrity has resulted in a measurable decline in misconduct cases by 30% over the last two years.

Collaboration

Collaboration is a core value that NN Group embraces to drive innovation and enhance operational efficiency across its business units.

In 2023, NN Group established cross-functional teams that facilitated over 200 collaborative projects aimed at improving product offerings. This initiative has led to a 15% increase in the speed of product development cycles compared to previous years.

The company's 'One NN' initiative encourages synergy across various sectors, resulting in improved customer service and a 25% enhancement in team performance metrics as measured by internal surveys.

Responsibility

Responsibility at NN Group signifies its commitment to sustainability and social impact, aligning with global standards and stakeholder expectations.

In 2022, NN Group launched its sustainability strategy, committing to achieve net-zero greenhouse gas emissions by 2050. In 2023, the company reported a 20% reduction in operational emissions compared to the previous year, showcasing progress toward environmental goals.

Furthermore, NN Group has invested €100 million in social programs, particularly focusing on community support and financial literacy initiatives, impacting over 1 million individuals across Europe.

Innovation

Innovation is vital for NN Group to stay competitive and meet the evolving needs of its clients and stakeholders.

In 2023, the company allocated €50 million toward research and development projects aimed at integrating advanced technologies like AI and machine learning into its services. This has led to the launch of an AI-driven customer service platform that reduced response times by 50%.

As a result of these innovations, NN Group reported an increase in digital product adoption, with a growth rate of 35% year-over-year in its digital insurance products.