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... 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