Analysing 2024 solvency and financial condition reports (SFCR) of life insurers in the Netherlands

This briefing note looks at the year-end 2024 solvency and financial condition reports (SFCRs) of a sample of life insurers based in the Netherlands,1 and includes an analysis of key information included in the quantitative reporting templates (QRTs) published with the SFCRs.2

In this briefing note, we analyse the SFCRs of the seven largest life entities of Dutch insurers selected based on their total assets year-end 2024, as well as the life insurance market as a whole. The total assets of these life insurance entities sum to about €371 billion, representing about 97% of the total assets of life insurers based in the Netherlands. The insurers selected are outlined in the table in Figure 1.

The insurers included in the sample are ranked based on total assets. A selection based on written premiums or own funds could produce a different list of insurers. Note that although the acquisition of Aegon by a.s.r. was fully completed in July 2023,6 the legal merger of the life insurance entities has not been completed at time of writing. The total market value of assets of life insurers has remained relatively stable between year-end 2023 and year-end 2024, partly explained by the stable interest rates over 2024.

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