Annual Report 2023 (eng) - Flipbook - Side 17
INDUSTRIENS PENSIONSFORSIKRING A/S ÅRSRAPPORT 2023
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 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.
The market risks category includes the
consequences of negative changes in financial
markets primarily resulting from interest-rate
RISK AND SOLVENCY
changes, a fall in share prices and currencies as
well as drops in property prices.
The solvency capital requirement amounted to
DKK 2.7 bn. at the end of 2023, and has thereby
increased by DKK 0.1 bn. compared with last
year, primarily because of an increase in market
risks, in particular share risks.
Total own funds of DKK 10.7 bn. have been
recognised to cover this. This corresponds to
excess liquidity of DKK 8.0 bn. and Industriens
Pension is thus particularly well consolidated.
Pursuant to the solvency regulations, a group 1
insurance company must analyse the effect of
changes in significant risks on the company's
Table 12 Solvency capital requirement and own funds
DKK mi .
Insur nce risk, ife
Insur nce risk, sickness- ccident
M rket risk
,
,
-
-
- ,
- ,
,
,
Accepted own funds
,
,
Excess cover
,
,
Counterp rt risk
Effect of diversific tion
Oper tion
risks
Covered b provisions
Tot
so venc c pit
So venc r tio
requirement
%
%
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