A.S.R.: Operating income up 9.8% in H1, dividend increased
A.S.R. published its first-half results on August 19, 2026, marked by growth in operating income and organic capital creation.
The Dutch insurer is raising its interim dividend and reports an improved solvency ratio, while completing its €175 million share buyback program.
Operating income up 9.8% to €901 million
In the first half of 2026, A.S.R.'s operating income increased by 9.8% to reach €901 million, compared to €821 million in the first half of 2025. According to the group, this growth is driven by all business segments.
The operating return on equity stood at 15.4%, compared to 14.2% a year earlier, above the group's target of more than 12%.
Organic capital creation rose by 7.3% to €773 million, compared to €721 million in the first half of 2025. Management describes these levels as record-breaking.
Solvency II ratio raised to 222%
As of June 30, 2026, the Solvency II ratio stood at 222%, compared to 218% on December 31, 2025. The group details the components of this change: a contribution of 13 percentage points from organic capital creation, a negative effect of 8 points related to capital distributions (interim dividend and share buybacks) and a negative effect of 1 point related to market movements, operational factors and capital deployment.
This level of solvency remains a key indicator for an insurer, as it measures the capacity to meet regulatory obligations. Organic capital creation emerges as the primary driver of the increase, ahead of shareholder distributions.
Interim dividend raised to €1.39 per share and share buyback program completed
A.S.R. has raised its interim dividend by 9.4% to €1.39 per share, compared to €1.27 in the first half of 2025. The group specifies that this amount is consistent with its dividend policy and represents 40% of the absolute dividend amount paid for 2025.
Furthermore, the €175 million share buyback program was completed during the first half of 2026.
All of these elements reflect a half-year period in which operating income reached €901 million and organic capital creation €773 million, both levels presented as record figures by management.
