2023 SFCR Report
during the first semester of the year. In a context where the solvency ratio of Monument Re reduced near its target operating level, MAB has decided to partly de-risk its investment portfolio through a replacement of corporate bonds into govies. This prudent management action had positive impact on the solvency ratio of the company but will temporarily reduce future financial earnings with tangible impact expected in 2024. Under Belgian norms, the financial year 2023 is positive with a strong bottom