news and press Press releases a.s.r. publishes Annual Report 2019
Press Utrecht 25 March 2020 17:40 EU/Amsterdam

a.s.r. publishes Annual Report 2019

ASR Nederland N.V. (a.s.r.) today publishes its 2019 annual report. The integrated report provides an overview of the financial and non-financial performance.

CEO Jos Baeten: ’2019 was a good year for a.s.r. Our operating result of € 858 million is significantly higher than in 2018 and the operating return on equity of 15.1% is well above our target. Our Solvency II ratio, on the standard formula, remained robust with 194% after our proposed dividend of €1.90 per share. Due to the good financial results, the proposed dividend for 2019 is more than 9% higher than the dividend paid for 2018. I am proud of the results we have achieved. However, with the recent global outbreak of COVID-19 (coronavirus) with significant impact on individuals, companies, societies and the economies around the globe, 2019 now seems a distant past. Our prime concern is the personal well-being of our customers and our employees, their partners and their families.’

At this point in time it is too early to make a realistic and credible assessment of what the impact of the coronavirus will be on a.s.r.’s business and financial performance. The effect on our financial results will depend on a number of factors, including the extent and duration of the period of disruption and the impact on the global economy and financial markets.

However, as reported in our 2019 annual report, a.s.r. is financially healthy and its capital position is solid. In the recent weeks, a.s.r.’s Solvency II ratio proved resilient to absorb these extraordinary developments in the financial markets. Based on the closing market position as of 19 March 2020, a.s.r. estimates its Solvency II ratio, on the standard formula, to be approximately 235%. The estimate reflects observed market movements as at 19 March 2020, but does not yet allow for any change in insurance claims or changes in experience or assumptions that may arise from the corona crisis. The estimate includes the positive impact from the significantly higher volatility adjustment which increased with over 40bps since year-end 2019, as well as the flattening of the interest rate curve. It also includes the negative impact of the further reduction of the UFR and the € 75 million share buyback that is currently being executed. Because of the current high volatility in the financial markets, the estimated Solvency II ratio may vary substantially from day to day.

As a leading Dutch insurer, a.s.r. is committed to help its customers through this challenging period and to do everything in its power to help overcome the corona crisis in the Netherlands. To protect its employees all a.s.r. employees are working from home which most employees are already very familiar with, given the ‘independent time and place working’ policy of a.s.r.

In addition to the annual report, a.s.r. also publishes its 2019 SFCR today.

The documents are available on www.asrnl.com.

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