May 20, 2020 / 5:18 AM / 9 days ago

BRIEF-ASR Nederland Q1 Operating Result Down At 184 Million Euros

May 20 (Reuters) - ASR Nederland NV:

* RELEASES Q1 2020 TRADING UPDATE AHEAD OF AGM TODAY

* LIMITED IMPACT OF COVID-19 ON OPERATIONAL PERFORMANCE IN Q1

* Q1 OPERATING RESULT AMOUNTED TO EUR 184 MILLION (Q1 2019: EUR 208 MILLION

* Q1 COMBINED RATIO FOR P&C AND DISABILITY REMAINED STRONG AT 94.7% (Q1 2019: 94.3%)

* IN Q1 GROSS WRITTEN PREMIUM AMOUNTED TO EUR 1,839 MILLION, AN INCREASE OF 18.3% COMPARED TO Q1 LAST YEAR

* SOLVENCY II RATIO AMOUNTED TO APPROXIMATELY 235% AT 31 MARCH 2020 ON STANDARD FORMULA (FY 2019: 194%)

* TOO EARLY TO MAKE A REALISTIC AND CREDIBLE ASSESSMENT OF WHAT FULL IMPACT OF COVID-19 CRISIS WILL BE ON A.S.R.’S BUSINESS AND FINANCIAL PERFORMANCE

* OPERATING RESULT FOR FULL YEAR 2020 IS EXPECTED TO EASE OFF FROM RECORD YEAR OF 2019 TOWARDS LEVEL OF 2018

* BASED ON TODAY’S KNOWLEDGE NO NEED TO ADJUST MEDIUM TERM TARGET (2021) FOR ORGANIC CAPITAL CREATION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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