Dutch insurers continue to invest less in bonds
Insurers in the Netherlands continued to sell direct investments in bonds in 2023, new figures from DNB show. For the fourth year in a row, insurers sold more bonds than they bought.
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In the first half of 2016, De Nederlandsche Bank (DNB) has conducted a sector-wide theme investigation on capital management policies at insurers. Based on this investigation, DNB has formulated a number of principles which DNB expects insurers to consider when drafting their capital management policies.
The thematic examination into capital management policies involved desk research of institution-specific information, which allowed DNB to formulate its expectations regarding capital management policies in the Solvency II framework as specifically as possible. The expectations are based on the principles described in this letter together with the additional principals for relevant subsectors.
The principles and expectations reflect DNB’s expectations regarding the capital management policies. DNB will take the principles and expectations into account in the assessment of the capital management policies in insurers' supervisory reports. It is up to insurers themselves how to integrate the principles and expectations in this letter in their capital management policies. DNB has discussed the content of this letter and its annexes with the Dutch Association of Insurers.
When assessing the capital management policy, DNB applies the following five general principles:
In addition to these general principles, the following three principles also apply for the relevant subsectors:
The attachment includes a more detailed description of these principles and expectations regarding the capital management policies.
Insurers in the Netherlands continued to sell direct investments in bonds in 2023, new figures from DNB show. For the fourth year in a row, insurers sold more bonds than they bought.
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