The Netherlands' largest insurer said its Solvency II ratio increased to 201% at the end of June, from 197% at the end of 2022, as operating capital generation improved almost 15%.

NN said "benign weather" had helped keep claims relatively low at its non-life business, reflected in a drop of the combined ratio of the business to 90.1%.

A ratio below 100% means the insurer earned more in premiums than it paid out in claims.

NN said it now expected its combined ratio for the business to be between 91% and 93% in 2025, from an earlier guidance of 93-95%.

NN's operating result improved by 24.5% in the first six months of 2023 compared to a year before, to 1.4 billion euros ($1.52 billion).

($1 = 0.9240 euros)

(Reporting by Bart Meijer; Editing by Kim Coghill)