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Aegon intends to move to swap curve for solvency calculation in the Netherlands

Aegon intends to move to swap curve for solvency calculation in the Netherlands

  • Netherlands
  • The Hague, September 2, 2013 On August 29, 2013, De Nederlandsche Bank (DNB) announced that it maintains the current framework for the calculation of the Solvency 1 ratio in the Netherlands.
  • Aegon
  • http://www.aegon.com
  • persvoorlichting@aegon.nl
  • http://www.aegon.com/en/Home/Investors/News-presentations/Press-Releases/2013/Aegon-intends-to-move-to-swap-curve-for-solvency-calculation-in-the-Netherlands/

This implies that insurers can choose either the DNB swap curve or the ECB AAA curve, the latter being the curve Aegon used for the calculation of the IGD (Insurance Group Directive) solvency ratThis implies that insurers can choose either the DNB swap curve or the ECB AAA curve, the latter being the curve Aegon used for the calculation of the IGD (Insurance Group Directive) solvency ratio for Aegon the Netherlands.

On July 12, 2013, Fitch downgraded France from AAA to AA+, resulting in the removal of France from the ECB AAA curve and an adverse impact on the IGD solvency ratio of Aegon the Netherlands. Today, Aegon announces its intention to move to the DNB swap curve and to incorporate the Ultimate Forward Rate into its internal capital management policy.

On this new basis, the pro forma IGD solvency ratio for Aegon the Netherlands excluding banking activities per June 30, 2013, amounted to approximately 245%. The continued strong solvency ratio is evidence of Aegon’s commitment to maintaining solid capital buffers within each of its operating companies.io for Aegon the Netherlands.

On July 12, 2013, Fitch downgraded France from AAA to AA+, resulting in the removal of France from the ECB AAA curve and an adverse impact on the IGD solvency ratio of Aegon the Netherlands. Today, Aegon announces its intention to move to the DNB swap curve and to incorporate the Ultimate Forward Rate into its internal capital management policy.

On this new basis, the pro forma IGD solvency ratio for Aegon the Netherlands excluding banking activities per June 30, 2013, amounted to approximately 245%. The continued strong solvency ratio is evidence of Aegon’s commitment to maintaining solid capital buffers within each of its operating companies.

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