very

investment strategy means that it has very few holdings in companies outside the Group. Monument Assurance Belgium is the majority shareholder in several unlisted companies that are part of the Monument Group. These are Monument Immo Management and the... delegated to the Management Committee. Sustainability is part of MAB's corporate strategy and governance. Sustainability requirements are therefore part of every department's projects and tasks. ▪ Ethical Policies and Practices 4 Monument Group: PUBLIC

government bonds towards corporate bonds. This operation will enhance future recurring earnings and offset the opposite operation that occurred end of 2023. The toneless real-estate market in Belgium since the recovery of interest rate in 2022

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

Monument Assurance Belgium Solvency and Financial Condition Report at 31 December 2022 8 April 2023 MMononuumentment GrGroouupp:: PUBPUBLICLIC Table of Contents Samenvatting............................................................................................................................. 4 Executive Summary .................................................................................................................. 12 A. Business and Performance ...................................