Ratings
Our strategy is built around creating long-term sustainable value for our customers, colleagues, shareholders and society. This is underpinned by our strategic commitments and reflected in our financial and strategic targets. Our ambition is to be an industry leader, known for customer engagement, talented people, and contribution to society. For more information read about Our purpose and strategy.
We have set clear targets and regularly disclose progress in a transparent way. We are pleased that our efforts are being recognised by various ESG ratings and benchmarks.
Reporting
NN Group takes an integrated approach to reporting. The 2024 Annual Report strives to present relevant information about NN's strategy, governance, performance and future prospects in ways that are relevant to the economic, environmental and social contexts in which it operates. This year, for the first time, we include a separate Sustainability Statement in the Annual Report, outlining how we address our material sustainability matters. Download the Annual Report and related documents.
The information and data in the 2024 Annual Report is prepared in accordance with relevant non-financial disclosure regulations, such as the European Sustainability Reporting Standards (ESRS) and EU Taxonomy. NN Group has externally disclosed that it is aligning its climate action approach to the Task Force on Climate-related Financial Disclosures (TCFD). In addition, we report our progress on the UN Principles for Sustainable Insurance (PSI) and UN Global Compact (UNGC).
Ratings
Our policies and practices are regularly assessed by independent organisations. We share an overview of how they rate NN Group.
| Organisation | Rating |
|---|---|
| FTSE4Good | NN Group is included in the FTSE4Good Index Series that recognises the performance of companies demonstrating strong environmental, social and governance (ESG) practices. |
| MSCI | In 2024, NN Group is awarded an AA ESG rating from MSCI. ESG Ratings from MSCI ESG Research are designed to measure a company’s resilience to financially material ESG risks. Our ESG Ratings provide a window into one facet of risk to financial performance. |
| ISS ESG research | ISS ESG research rated NN Group with an overall grade of C (Prime) as of July 2024. Companies are awarded Prime Status if the overall ESG Corporate Rating letter grade meets or exceeds the industry-specific Prime threshold defined by ISS ESG’s Industry Classification Matrix. The Prime threshold reflects the overall magnitude of an industry’s risk exposure and footprint, and is C+ for the majority of industries, B- for high ESG risk industries and C for industries with a lower ESG risk profile. |
| Sustainalytics | As of October 2024, global responsible investment research firm Morningstar Sustainalytics granted NN Group an ESG Risk Rating of 14.3 (low risk). |
| CDP | Every year, we participate in the CDP climate change questionnaire. In 2023, NN Group received a B rating. |
| ShareAction | In ShareAction’s global ranking of insurance companies on responsible investment and underwriting focusing on the themes of climate change, biodiversity and human rights. NN was placed 6th out of 29 insurers with a property and casualty business. |
Dutch sustainability ratings
| VBDO | The Dutch Association of Investors for Sustainable Development (VBDO) publishes a Benchmark Responsible Investment by Insurance Companies. In the 2023 edition, NN was ranked fourth place in the benchmark (out of 20 insurance companies in the Netherlands). |
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| The VBDO also publishes a Tax Transparency Benchmark that focuses specifically on corporate disclosure of tax procedures and practices. In the 2024 edition, NN was ranked first place in the benchmark (out of 51 Dutch and 65 EU stock-listed companies). |
