{"id":16824,"date":"2023-12-28T10:21:11","date_gmt":"2023-12-28T10:21:11","guid":{"rendered":"https:\/\/www.asquarepartners.com\/?p=16824"},"modified":"2023-12-28T10:24:18","modified_gmt":"2023-12-28T10:24:18","slug":"market-december-2023","status":"publish","type":"post","link":"https:\/\/www.asquarepartners.com\/en\/market-december-2023\/","title":{"rendered":"Market &#8211; December 2023"},"content":{"rendered":"<p>This month, read more about the final report on the assessment of the Belgian financial sector and the rise in motor insurance rates.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><a href=\"#assessment-sector\"><span style=\"text-decoration: underline;\">Assessment of the Belgian financial sector and of its regulation<\/span><\/a><\/li>\n<li><a href=\"#rates-rise\"><span style=\"text-decoration: underline;\">Motor insurance rates to rise in 2024<\/span><\/a><\/li>\n<li><a href=\"#baloise-portfolio\"><span style=\"text-decoration: underline;\">Baloise to sell its life insurance portfolio to ING<\/span><\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h5 id=\"assessment-sector\">Assessment of the Belgian financial sector and of its regulation<\/h5>\n<p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/12\/shadowbanking.jpg\"><img decoding=\"async\" class=\" wp-image-16825 alignleft\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/12\/shadowbanking-300x201.jpg\" alt=\"\" width=\"234\" height=\"157\"><\/a>In 2023, the Belgian financial sector has undergone an assessment under the International Monetary Fund\u2019s Financial Stability Assessment Program (FSAP), with the close collaboration of the FSMA.<\/p>\n<p>Based on a liquidity stress test, the assessment found that the Belgian investment fund sector is resilient and able to absorb large shocks. The FSMA will conduct this type of test periodically, as recommended by the IMF, to quickly identify any structural vulnerabilities in the investment fund sector.<\/p>\n<p>The <a href=\"https:\/\/www.imf.org\/en\/Publications\/CR\/Issues\/2023\/12\/07\/Belgium-Financial-Sector-Assessment-Program-Financial-System-Stability-Assessment-542059\">final report<\/a> has recently been published by the IMF Board.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"rates-rise\">Motor insurance rates to rise in 2024<\/h5>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/12\/car-insurance.jpg\"><img decoding=\"async\" class=\" wp-image-16829 alignleft\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/12\/car-insurance-300x153.jpg\" alt=\"\" width=\"226\" height=\"115\"><\/a>An average rise of 3.9% is forecast for car insurance rates. This increase is due in particular to the rise in claims, the increase in the cost of labour and repairs, the tightening of reinsurance conditions and the high price of cars.<\/p>\n<p>&nbsp;<\/p>\n<h5>&nbsp;<\/h5>\n<h5>&nbsp;<\/h5>\n<h5 id=\"baloise-portfolio\">Baloise to sell its life insurance portfolio to ING<\/h5>\n<p style=\"text-align: justify;\">Baloise is said to be currently in discussions with the Dutch group ING to transfer its Belgian life insurance portfolio worth EUR 1 billion.<\/p>\n<p style=\"text-align: justify;\">An agreement could be signed shortly.<\/p>\n<p>&nbsp;<\/p>\n<h5>Sources:<\/h5>\n<ul>\n<li><a href=\"https:\/\/www.fsma.be\/en\/news\/fsma-welcomes-imf-assessment-belgian-financial-sector-and-its-regulation\">FSMA, FSMA welcomes IMF assessment of the Belgian financial sector and of its regulation<\/a><\/li>\n<li><a href=\"https:\/\/www.atlas-mag.net\/en\/category\/pays\/belgique\/motor-insurance-in-belgium-rates-to-rise-in-2024\">Atlas Magazine, Assurance automobile en Belgique&nbsp;: vers une hausse des tarifs en 2024<\/a><\/li>\n<li><a href=\"https:\/\/www.atlas-mag.net\/category\/pays\/belgique\/la-baloise-prevoit-de-ceder-son-portefeuille-d-assurance-vie-en-belgique\">Atlas Magazine, La B\u00e2loise pr\u00e9voit de c\u00e9der son portefeuille d\u2019assurance vie en Belgique<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This month, read more about the final report on the assessment of the Belgian financial sector and the rise in motor insurance rates. &nbsp; Assessment of the Belgian financial sector and of its regulation Motor insurance rates to rise in 2024 Baloise to sell its life insurance portfolio to ING &nbsp; Assessment of the Belgian [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[341],"class_list":["post-16824","post","type-post","status-publish","format-standard","hentry","category-be","tag-keeping-up-with-the-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market - December 2023 - Asquarepartners.com<\/title>\n<meta name=\"description\" content=\"This month, read more about the final report on the assessment of the Belgian financial sector and the rise in motor insurance rates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asquarepartners.com\/en\/market-december-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market - December 2023 - Asquarepartners.com\" \/>\n<meta property=\"og:description\" content=\"This month, read more about the final report on the assessment of the Belgian financial sector and the rise in motor insurance rates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asquarepartners.com\/en\/market-december-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Asquarepartners.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-28T10:21:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-28T10:24:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/12\/shadowbanking.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"428\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Asquarepartners\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Asquarepartners\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/en\\\/market-december-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/en\\\/market-december-2023\\\/\"},\"author\":{\"name\":\"Asquarepartners\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#\\\/schema\\\/person\\\/4031ebe4db01fcaa426a5eaf4c9b65dc\"},\"headline\":\"Market &#8211; 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