2020 Annual results

The result before taxes was €1.8 million positive in 2020 (2019: positive €32.7 million). Compared to 2019, this result was negatively affected by a higher cost of claims from three major corporate fire claims in the Achmea portfolio, a higher cost of claims on incoming Life and Non-Life insurance policies arising from Covid-19 and a lower investment income due to the turmoil on the financial markets. 

At a glance

  • Gross written premium € 289 million;
  • Total equity € 289 million;
  • Net profit  € 1,3 million.

 

Solvency ratio

Compared to year-end 2019 the Eligible Own Funds increased with €4.7 million to €288.8 million (year-end 2019: €284.2 million). The increase is the outcome of positive development throughout the year, both on the insurance and financial portfolio partly reduced by developments due to the virus outbreak and losses in the Non-Life portfolio.

The Solvency Capital Requirement increased by an amount of €23 million to €155.6 million (year-end 2019: €132.6 million). This increase is caused by: 

  • Market Risk increased €2.8 million. 
  • Counterparty Default Risk decreased €0.9 million. 
  • Life Underwriting Risk increased €0.4 million.
  • Health Underwriting Risk increased €1.4 million.
  • The Non-Life Underwriting Risk increased with €37.0 million. 
  • Operational Risk decrease of €1.3 million.
  • Loss Absorbing Capacity Expected Profits – Underwriting Risk decrease €7.8 million

Solvency Ratio

  2020  2019  ▲2020 – 2019
 Eligble Own Funds  288,818  284,151  4,667
 Required Capital  155,622  132,598  23,024
 Surplus  133,196  151,553  -18,357
 Ratio (%)  186%  214% -28%

Read more on Achmea.com Investors >