UPDATE 1-Insurer NN Group H1 core profit slips as storm claims weigh

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Aug 11 (Reuters) - NN Group's core profit fell 12.1% year-on-year in the first half of 2022, the Dutch insurer said on Thursday, citing the impact of weather events and the sale of its asset management arm.

Operating profit came in at 983 million euros ($1.01 billion) in the first six months of the year, down from 1.12 billion euros last year.

The figure beat analyst expectations by 2%, Alexander Evans from Credit Suisse wrote in a flash note to clients.

A massive storm in the Netherlands earlier this year resulted in an impact of 86 million euros, mainly in the non-life segment for the country, the company said.

The operating result only includes one quarter of contribution from NN's former asset management business, NN Investment Partners, sold to Goldman Sachs for 1.7 billion euros in April.

The sale led to a higher net result of 2.06 billion euros, compared with 1.41 billion euros last year.

NN said its operating capital generation grew to 899 million euros, compared with 780 million euros last year, and also trounced expectations by about 17%, according to Credit Suisse.

The increase in capital generation was "mainly driven by the Dutch life business as well as our international insurance businesses," Chief Executive Officer David Knibbe said in a statement.

Among other key metrics, NN's solvency under Europe's Solvency II regime decreased to 196% from 213%.

The group also forecast an investment of at least 6 billion euros in climate solutions by 2030.

($1 = 0.9728 euros) (Reporting by Valentine Baldassari and Augustin Turpin; Editing by Christian Schmollinger and Sherry Jacob-Phillips)