## Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Insurance and Pension Fund Regulation and Supervision

_IMF Staff Country Reports, June 18, 2024_

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## Bibliographic details
- Published: June 18, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400279843.002

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### Overview
- Publication date: June 18, 2024
- Series: Country Report No. 2024/170
- Volume: 2024; Issue: 170; Pages: 75
- DOI: https://doi.org/10.5089/9798400279843.002
- Stock No: 1NLDEA2024006
- ISBN: 9798400279843
- ISSN: 1934-7685

### Insurance sector: structure, trends, and exposures
- The Dutch insurance sector is undergoing further consolidation.
- The life sector has been steadily shrinking over the last two decades.
- The non-life market is relatively saturated.
- Investment exposures to real estate are increasing.
- Dutch insurers are large providers of mortgage loans.

### Solvency and regulatory context
- Solvency ratios of Dutch insurers are well above the regulatory threshold.
- Solvency ratios are below the EU average.
- Solvency measures are distorted by the mechanics of the ‘Long-Term Guarantee Measures’ in Solvency II.

### Pension system: design, pressures, and public confidence
- The Dutch pension system rests on three pillars.
- The Dutch pension system is considered to be among the best according to international comparisons.
- Most pension schemes are defined-benefit pensions.
- Defined-benefit pensions have come under pressure since 2008, when low interest rates resulted in declining funding ratio and led to an overall loss in confidence in the system.

### Supervision, governance, and institutional framework
- The Dutch system for independent state agencies, including De Nederlandsche Bank and Autoriteit Financiële Markten, carefully balances powers and accountability.
- Supervision of insurers and pension funds is effective in the Netherlands.

### Subject tags and keywords (as provided)
- Subject: Expenditure, Financial institutions, Insurance, Insurance companies, International organization, Labor, Monetary policy, Pension spending, Pensions
- Keywords: D.C., FSAP's finding, Global, Insurance, Insurance companies, insurance regulation regime, International Monetary Fund Washington, organization of Supervision, pension fund regulation, pension fund Sector, Pension spending, Pensions, solvency Assessment

*International Monetary Fund. Monetary and Capital Markets Department "Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Insurance and Pension Fund Regulation and Supervision", IMF Staff Country Reports 2024, 170 (2024).*

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_Source: https://www.imf.org/en/publications/cr/issues/2024/06/17/kingdom-of-the-netherlands-the-netherlands-financial-sector-assessment-program-technical-550588_