Notice

    On January 1, 2023, two new standards with a major impact on the insurance sector came into force: IFRS 9 for investment assets and liabilities, and IFRS 17 for insurance contracts. The financial statements of 2023 have been prepared on the basis of these two new standards and are compared with the restated 2022 financial statements. These comparative financial statements are therefore different from the financial statements presented in the 2022 reports.

Ethias Group IFRS - in €M

    P&L 2022 2023
    Gross written premiums* non-life 1 512 1 669
    Gross written premiums life 1 402 1 705
    Total Gross written premiums* 2 914 3 374
    Revenue related to other activities 414 480
    * gross written premiums are not an indicator defined under IFRS 17.
     
    Net result 2022 2023
    Technical result 34 491
    o/w non life -17 324
    o/w life 51 167
    Non technical result -17 -41
    Tax - 13 -104
    Total net result 4 346
     
    Performance non-life 2022 2023
    Net combined ratio (From 2022: Net Adjusted Combined Ratio) 89,0% 80,9%
     
    Capitalization and leverage 2022 2023
    Own funds 1 831 2 175
    Economic value 2 562 2 896
    Financial leverage ratio 17% 16%
     
    Balance sheet 2022 2023
    Financial assets 15 695 16 548
    Insurance contract liabilities 9 068 9 341
    Investment contract liabilities 5 146 5 348
    Total assets 18 303 19 340
       
    Solvency - Ethias SA solo 2022 2023
    Solvency II ratio 170% 190%

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