€879.2m market cap
€76.5 last close
Nürnberger Beteiligungs is the parent company of a group of insurers and financial service companies. It is one of Germany’s oldest insurers, operating since 1884. It offers life, health and property and casualty insurance, with strongest demand for unit-linked life, disability and pension insurance and standard pension insurance.
Nürnberger Beteiligungs (NBG) has weathered the COVID-19 crisis quite well so far, with improving gross premiums booked (despite somewhat lower new business), higher investment income in its traditional insurance business and limited growth in claims expenses in H120. After NBG almost doubled its net income in H120, management expects a y-o-y increase in FY20 earnings, assisted by higher premiums booked and visible growth in new business at a group level. At its AGM in April NBG approved the €3.30 dividend per share, which is 10% higher than last year.