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BRIEF-ASR Nederland FY net result up 6.3 pct at 659 million euros, raises dividend
February 22, 2017 / 6:38 AM / in 8 months

BRIEF-ASR Nederland FY net result up 6.3 pct at 659 million euros, raises dividend

Feb 22 (Reuters) - ASR Nederland NV:

* FY operating result at 599 million euros, up 11.5 pct, driven by strong business performance and income from acquired businesses

* FY net result up 6.3 pct, rising to 659 million euros, primarily reflecting the increase in operating result

* Proposed cash dividend of 1.27 euros per share, up 12 pct

* FY combined ratio at 95.6 pct, ahead of targeted 97.0 pct

* FY gross written premiums up 5.8 pct, rising to 4,328 million euros, reflecting increases in both non-life and life segments

* Says on track towards achieving medium-term targets

* Holding cash position of 354 million euros at year-end 2016 (target 350 million euros)

* Increase in Solvency II ratio (standard formula and post-dividend) to 189 pct from 180 pct at the beginning of 2016

* Before proposed dividend, the solvency ii ratio was 194 percent at the end of 2016

* FY operating return on equity 14.1 percent versus 14.4 percent year ago

* FY combined ratio non-life segment 95.6 percent versus 95.0 percent year ago

* FY operating result 599 million euros versus 537 million euros year ago

* Cost reduction initiatives on track to achieve medium term target of 50 million euros

* On track towards achieving our medium-term targets Source text: bit.ly/2maXR4U Further company coverage: (Gdynia Newsroom)

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