Strategy bears fruit, Solvency II ratio up sharply to 202%
Athora Netherlands is making significant progress in implementing its Ambition 2025 strategy. That much is evident from its interim figures published today. Particular eye catchers are the strong increase of our solvency, as well as improved net underlying performance and a 5% growth in pension contribution income. Our solvency went up 22 percentage points to 202%, from 180% at year end 2021.
Despite all the uncertainties in the world in the last six months, such as the war in Ukraine, the energy crisis and the far-reaching consequences for the global economy and the financial markets, we nevertheless managed to offer our clients some certainty, says CEO Jan de Pooter. “Higher interest rates and risk premiums in the bond markets, together with positive capital generation, have resulted in a solid increase in our solvency. Thanks to a Solvency II ratio of 202% at the end of June, we are a true ‘partner for life’ for our clients and can step up the pace in implementing our Ambition 2025 strategy.”
Zwitserleven achieved solid growth in pension contributions. The increased volume in our pension accrual products was partially offset by a minor decline in pension income products, as clients put off their decision to buy pension benefits in anticipation of higher interest rates.
A buyout enabled us once again to support a pension fund in the assets and liabilities transfer ahead of the upcoming pension reforms. And we launched our new variable pension product to meet the growing need of some clients to earmark some of their capital for defined benefits while keeping the remainder linked to financial market developments.
Jan de Pooter: “We continue to strive to be the most sustainable insurance company in the Netherlands. This is why we have launched a new dedicated Sustainability department to coordinate and consolidate all our efforts in this important area.”
For more information, see the full press release at athora.nl
This article is published on 08 September 2022