2025 SFCR Report
a rising interest environment and normalization in inflation rates. The OLO 10 year rate, representing the returns on 10 years Belgian government bonds, increased from 2.6% in December 2023 to c.3.4% in December 2025. At the same time, inflation rates... 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