Sliding rates crimp Allianz’s Solvency II ratio
Solvency II ratio down 17 percentage points year-on-year
Allianz ended 2019 with its core solvency ratio 17 percentage points down on a year prior, as low interest rates pumped up its Solvency Capital Requirement.
The German insurer’s SCR – the denominator used to calculate its Solvency II capital ratio – surged €6 billion (+18%) over the year to €39.5 billion. Sinking interest rates contributed €4.4 billion to the increase. Business growth added a further €1.2 billion.
Allianz’s own funds, the Solvency II ratio’s numerator, climbed €7.2 billion (+9
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