reductions

from the rising interest rate environment. As such downward pressure on transaction price remains important with negative impact on transaction volumes and value reductions in accounting. The liability portfolio performed overall in line with expectations. Although pressure remains high on corporate business, the collective surrender phenomenon, observed in the post Integrale acquisition, or collective reduction phenomenon, due to rising interest rates, was limited and concentrated on a few names

engenders liquidity issues for several Belgian promotors and, in some case, incapacity to reimburse loans arrived to maturity. In accordance with BGAAP principles, MAB has booked value reduction on non-performing loans. In some cases, this results in the..., 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 at 31 December 2023 8 April 2024 MMononuumentment GrGroouupp:: PUBPUBLICLIC Table of Contents Samenvatting............................................................................................................................. 5 Executive Summary .................................................................................................................. 13 A. Business and Performance ...................................

portfolio), Monument has experienced higher collective transfer and reduction phenomenon than expected. Corporate customer behaviour is driven by the absence of profit sharing at Integrale during the last two-years and the need for MAB to be trusted