In our first quarterly report of 2022, chairman of the Board Jochem Dijckmeester stated: “Our policy coverage ratio increased from 111.5% to 113.6% in the past quarter. At the same time, we had to deal with turmoil in the financial markets, triggered by the conflict in Ukraine, rising inflation expectations and interest rate increases. This resulted in significant losses on our investments. Our liabilities fell due to rising interest rates. This more than made up for our investment losses.
Policy coverage ratio 31 March 2022: 113.6%
The financial situation of the past few months is reflected in the policy coverage ratio, which is a 12-month average. This coverage ratio rose in the first quarter from 111.5% to 113.6% on 31 March 2022. Read more about the development of the policy coverage ratio here.
Current UFR coverage ratio 31 March 2022: 118.8%
The current coverage ratio rose in the first quarter from 116.8% to 118.8%. This concerns the so-called UFR coverage ratio, which is a snapshot of the position at the end of the month. Read more about the development of the UFR coverage ratio here.
Return on investments until 31 March 2022: -8.5%
The return was -8.5% in the first quarter. The investments for hedging interest rate risk (Matching) produced a return of -14.7% in the first quarter. The investments to achieve an additional return (Return), such as equities, achieved a return of -4.8% in the first quarter.
Investment returns defined contribution schemes 2022
The returns of our defined contribution schemes for all age groups were negative in the first quarter: -6.3% for participants aged up to 49, -7.3% for participants aged 50-55, -8.3% for participants aged 56-61 and -9.3% for participants aged 62 and above.
Do you want to know more? Read our quarterly report.