Årsrapport 2022 godkendt 7. marts 2023 (eng) - Flipbook - Side 13
INDUSTRIENS PENSIONSFORSIKRING A/S ANNUAL REPORT 2022
RISK AND SOLVENCY
Risk and solvency
Solvency capital requirement and own
funds
There are common solvency regulations in the
EU. The aim of the regulations is to ensure
effective risk management and uniform
calculation of insurance provisions, solvency
capital requirements and own funds for EU
insurance and pension companies. Insurance
provisions for solvency use are DKK 7 mill.
greater than the provisions, which are included
in the financial statements according to
accounting provisions. The difference has been
deducted from own funds.
Table 10 Solvency capital requirement and own funds
than anticipated, an increase in the
number of members who lose their ability
to work, and a possible disaster situation
with extraordinary increases in the
number of deaths and sick within a short
period.
DKK mill.
Insurance risk, life
Insurance risk, sickness-accident
Market risk
The market risks category includes the
consequences of negative changes in
financial markets primarily resulting from
interest-rate changes, a fall in share prices
and currencies as well as drops in
property prices.
Counterparty risk
Industriens Pension has decided to calculate the
solvency capital requirement according to the
Solvency II standard model. Insurance contracts
in Industriens Pension do not contain earnings
for own funds, and thus provisions do not
contain a profit margin.
The solvency capital requirement is calculated
on the basis of a quantification and a weighting
of the different types of risk according to the
regulations stipulated in the Solvency II standard
model (standard formula). Overall, the different
risks are categorised as insurance risks, market
risks, counterparty risks and operational risks.
The insurance risks category primarily includes
the consequences of members living longer
2021
2022
510
388
132
130
6,190
4,358
27
32
Effect of diversification
-479
-392
Operational risks
105
96
Covered by provisions
-2,889
-2,266
Total solvency capital requirement
3,597
2,346
Own funds
11,033
10,627
Accepted own funds
11,033
10,627
307%
453%
Solvency ratio
Solvency capital requirement
Own funds
Excess liquidity
2.3
10.6
8.3
BN. DKK
BN. DKK
BN. DKK
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