economic

in accordance with MAB’s desire to move to the target asset allocation which will continue in 2026. The economic own funds of MAB decreased over the period 2024-2025 from €386,4m to € 338,6m. The main drivers for reduction in eligible own funds are: the acquisitions of the Contassur portfolio, write-down on historical (mainly property) investments and revisions of non-economic assumptions in actuarial flow models to reflect the commercial strategy in the cash-flow models. From a Solvency

statutory period ending 31 December 2022. Copies of the Company’s financial statements may be obtained from the website of the National Bank of Belgium. While year 2022 was driven by important macro-economic volatility and interest rate rise, year 2023 marked a stabilisation of interest rate environment and a progressive normalisation of inflation rates. The stabilisation of the macro-economic environment was favourable to quoted stock prices with a recovery of main indexes. One must note that

for the Company from an operational perspective during 2022: ▪ In life retail, the Company continued to perform and run-off in line with expectations and economic performance metrics continue to report as anticipated. ▪ In collective life (Integrale..., inflationary pressures, real-estate and equity market downturns. ▪ Thanks to disciplined financial hedging strategies and the IGR, the economic own funds of Monument were not negatively affected. ▪ In accordance with its risk appetite and investment strategy

, presents a stable fair value following two years of value reduction driven by interest rate rise. The level of economic own-funds under Solvency II have reduced by € 30m over the year. This decrease of own fund under the prudential norm is driven

Monument Assurance Belgium Solvency and Financial Condition Report st at 31 December 2021 30 March 2022 Monument Group: PUBLIC Table of Contents Samenvatting............................................................................................................................. 4 Executive Summary .................................................................................................................. 11 A. Business and Performance ...................................................