{"id":24110,"date":"2025-06-02T05:25:03","date_gmt":"2025-06-02T05:25:03","guid":{"rendered":"https:\/\/www.asquarepartners.com\/?p=24110"},"modified":"2025-06-04T07:43:39","modified_gmt":"2025-06-04T07:43:39","slug":"where-does-the-insurance-sector-stand%ef%bd%9cbelgium","status":"publish","type":"post","link":"https:\/\/www.asquarepartners.com\/en\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/","title":{"rendered":"Where does the belgian insurance sector stand?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"24110\" class=\"elementor elementor-24110\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d7d7675 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d7d7675\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b5a6e88\" data-id=\"b5a6e88\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7336312 elementor-widget elementor-widget-text-editor\" data-id=\"7336312\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In its role as Belgium\u2019s macroprudential authority since 2014, the National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures. Despite the backdrop of severe financial market turbulence and heightened uncertainty in 2024, the Belgian financial sector demonstrated resilience, supported by strong solvency and liquidity buffers. Against this uncertain environment, the NBB maintained its macroprudential policy stance, emphasizing on the importance of a robust regulatory framework. <\/span><\/p><p><span style=\"font-weight: 400;\">Particular attention will be given below to the developments and considerations concerning the <strong>Belgian insurance sector in 2024<\/strong>, highlighting its recent performance, emerging risks, and the supervisory priorities identified by the NBB in this area.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Read the full Financial Stability Report <a href=\"https:\/\/www.nbb.be\/fr\/actualites-et-evenements\/stabilite-du-secteur-financier-belge-resilience-et-prudence-restent-les\" target=\"_blank\" rel=\"noopener\">here.<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a95664c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a95664c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8b4e4e1\" data-id=\"8b4e4e1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a2fbcd5 elementor-widget elementor-widget-image\" data-id=\"a2fbcd5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"450\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Financial-report-bank.png\" class=\"attachment-large size-large wp-image-24224\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Financial-report-bank.png 600w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Financial-report-bank-300x225.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dd244e3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dd244e3\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e007609\" data-id=\"e007609\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2ad6f62 elementor-widget elementor-widget-text-editor\" data-id=\"2ad6f62\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5><strong>Balance Sheet Overview<\/strong><\/h5><p>Total assets decreased to \u20ac348 billion (from \u20ac377 billion in 2021) due to higher interest rates. Excess assets over liabilities\u2014key to regulatory own funds\u2014stood at \u20ac39.2 billion.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5510680 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5510680\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6663ec9\" data-id=\"6663ec9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d2dbcf elementor-widget elementor-widget-image\" data-id=\"1d2dbcf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"757\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-768x757.png\" class=\"attachment-medium_large size-medium_large wp-image-24313\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-768x757.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-300x296.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1030x1015.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-80x80.png 80w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items.png 1278w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-562ee3b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"562ee3b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b1afeb\" data-id=\"2b1afeb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7ebbb20 elementor-widget elementor-widget-text-editor\" data-id=\"7ebbb20\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5><strong>Technical Provisions<\/strong><\/h5><ul><li>Unit-linked (Class 23): \u20ac55.7 billion; policyholders bear investment risk<\/li><li>Non-unit-linked: \u20ac210.7 billion, mainly life insurance (77%), with public and corporate bonds, loans, and mortgages forming the majority of backing assets.<\/li><\/ul><p>\u00a0<\/p><h5><strong>Life Insurance with Guaranteed Returns<\/strong><\/h5><p>These remain dominant in Belgium. Insurers faced asset-liability management challenges in the low-rate era, reducing their duration gap and adjusting their portfolios to preserve profitability. The average guaranteed return declined from 2.8% in 2015 to 1.8% by end-2023.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0a03e59 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0a03e59\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2e2c5d5\" data-id=\"2e2c5d5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cb52a99 elementor-widget elementor-widget-image\" data-id=\"cb52a99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"757\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1-768x757.png\" class=\"attachment-medium_large size-medium_large wp-image-24320\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1-768x757.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1-300x296.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1-1030x1015.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1-80x80.png 80w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Main-Balance-sheet-items-1.png 1278w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-acb0a3a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"acb0a3a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-af253a2\" data-id=\"af253a2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb00e9d elementor-widget elementor-widget-text-editor\" data-id=\"eb00e9d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5><strong>Investment Trends<\/strong><\/h5><ul><li>Decline in public sector bonds (from 50% in 2017 to 40% in 2024)<\/li><li>Growth in riskier assets like mortgages, commercial real estate (CRE), and private equity<\/li><li>Corporate bonds remained stable (~20%), but about 30% were BBB-rated.<\/li><li>CRE exposure rose to 10% (from 8% in 2016), with a cumulative 30% value loss since 2021.<\/li><li style=\"list-style-type: none;\">\u00a0<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a383fa1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a383fa1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-48df9c4\" data-id=\"48df9c4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b3bb346 elementor-widget elementor-widget-image\" data-id=\"b3bb346\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"535\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Composition-of-investiment-portfolio-768x535.png\" class=\"attachment-medium_large size-medium_large wp-image-24327\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Composition-of-investiment-portfolio-768x535.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Composition-of-investiment-portfolio-300x209.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Composition-of-investiment-portfolio-1030x718.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Composition-of-investiment-portfolio.png 1294w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b42717 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b42717\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-64fc117\" data-id=\"64fc117\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cf5d838 elementor-widget elementor-widget-text-editor\" data-id=\"cf5d838\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5><strong>Capital and Liquidity<\/strong><\/h5><p>The SCR ratio was 201% (down from 216% in 2023), indicating strong capital buffers. A stress test showed the ratio could drop to 97% in a severe scenario, but reactive measures could lift it to 138%. Liquidity ratios remained robust (~250%), despite a decline due to increased illiquid asset holdings.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-12932a2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"12932a2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-45a691f\" data-id=\"45a691f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-038c765 elementor-widget elementor-widget-image\" data-id=\"038c765\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"668\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Solvency-and-liquidy-ratios-768x668.png\" class=\"attachment-medium_large size-medium_large wp-image-24334\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Solvency-and-liquidy-ratios-768x668.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Solvency-and-liquidy-ratios-300x261.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Solvency-and-liquidy-ratios-1030x896.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Solvency-and-liquidy-ratios.png 1290w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-499b767 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"499b767\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a8f2257\" data-id=\"a8f2257\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad48f89 elementor-widget elementor-widget-text-editor\" data-id=\"ad48f89\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5><strong>Natural Disaster Coverage Risk<\/strong><\/h5><p>Gaps in the statutory framework for disaster cost allocation create uncertainty. This could reduce reinsurance capacity and lead to unaffordable premiums, particularly for vulnerable groups. Finalising a more robust public-private partnership is critical.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8c36590 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8c36590\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7d00182\" data-id=\"7d00182\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b5baa83 elementor-widget elementor-widget-text-editor\" data-id=\"b5baa83\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Source :\u00a0<\/strong><\/p><p class=\"node-publication-full-top__title\"><a href=\"https:\/\/www.nbb.be\/fr\/publications-et-recherche\/publications\/toutes-les-publications\/financial-stability-report-2025\" target=\"_blank\" rel=\"noopener\">Banque nationale de Belgique, Financial Stability Report 2025, 21 mai 2025<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f45a3cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f45a3cf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9ab89eb\" data-id=\"9ab89eb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.<\/p>\n","protected":false},"author":1,"featured_media":24380,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[341],"class_list":["post-24110","post","type-post","status-publish","format-standard","has-post-thumbnail","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>Where does the belgian insurance sector stand?<\/title>\n<meta name=\"description\" content=\"The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.\" \/>\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\/where-does-the-insurance-sector-stand\uff5cbelgium\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where does the belgian insurance sector stand?\" \/>\n<meta property=\"og:description\" content=\"The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asquarepartners.com\/en\/where-does-the-insurance-sector-stand\uff5cbelgium\/\" \/>\n<meta property=\"og:site_name\" content=\"Asquarepartners.com\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-02T05:25:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-04T07:43:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Design-sans-titre-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/\"},\"author\":{\"name\":\"Asquarepartners\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#\\\/schema\\\/person\\\/4031ebe4db01fcaa426a5eaf4c9b65dc\"},\"headline\":\"Where does the belgian insurance sector stand?\",\"datePublished\":\"2025-06-02T05:25:03+00:00\",\"dateModified\":\"2025-06-04T07:43:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/\"},\"wordCount\":361,\"publisher\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asquarepartners.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Design-sans-titre-1.png\",\"keywords\":[\"keeping up with the market\"],\"articleSection\":[\"Belgium\\\/Luxembourg\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/\",\"url\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/\",\"name\":\"Where does the belgian insurance sector stand?\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asquarepartners.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Design-sans-titre-1.png\",\"datePublished\":\"2025-06-02T05:25:03+00:00\",\"dateModified\":\"2025-06-04T07:43:39+00:00\",\"description\":\"The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.asquarepartners.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Design-sans-titre-1.png\",\"contentUrl\":\"https:\\\/\\\/www.asquarepartners.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Design-sans-titre-1.png\",\"width\":600,\"height\":450,\"caption\":\"NBB Financial Stability Report 2025\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.asquarepartners.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Where does the belgian insurance sector stand?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#website\",\"url\":\"https:\\\/\\\/www.asquarepartners.com\\\/\",\"name\":\"Asquarepartners.com\",\"description\":\"Asquare Partners is an international headhunting company operating in the insurance industry, specialised in actuarial science, risk management and data science.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.asquarepartners.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#organization\",\"name\":\"Asquarepartners.com\",\"url\":\"https:\\\/\\\/www.asquarepartners.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.asquarepartners.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/cropped-ASQP-Logo-2024_250100.png\",\"contentUrl\":\"https:\\\/\\\/www.asquarepartners.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/cropped-ASQP-Logo-2024_250100.png\",\"width\":350,\"height\":100,\"caption\":\"Asquarepartners.com\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.asquarepartners.com\\\/#\\\/schema\\\/person\\\/4031ebe4db01fcaa426a5eaf4c9b65dc\",\"name\":\"Asquarepartners\",\"url\":\"https:\\\/\\\/www.asquarepartners.com\\\/en\\\/author\\\/asquarepartners_adm\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Where does the belgian insurance sector stand?","description":"The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.asquarepartners.com\/en\/where-does-the-insurance-sector-stand\uff5cbelgium\/","og_locale":"en_GB","og_type":"article","og_title":"Where does the belgian insurance sector stand?","og_description":"The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.","og_url":"https:\/\/www.asquarepartners.com\/en\/where-does-the-insurance-sector-stand\uff5cbelgium\/","og_site_name":"Asquarepartners.com","article_published_time":"2025-06-02T05:25:03+00:00","article_modified_time":"2025-06-04T07:43:39+00:00","og_image":[{"width":600,"height":450,"url":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Design-sans-titre-1.png","type":"image\/png"}],"author":"Asquarepartners","twitter_misc":{"Written by":"Asquarepartners","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#article","isPartOf":{"@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/"},"author":{"name":"Asquarepartners","@id":"https:\/\/www.asquarepartners.com\/#\/schema\/person\/4031ebe4db01fcaa426a5eaf4c9b65dc"},"headline":"Where does the belgian insurance sector stand?","datePublished":"2025-06-02T05:25:03+00:00","dateModified":"2025-06-04T07:43:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/"},"wordCount":361,"publisher":{"@id":"https:\/\/www.asquarepartners.com\/#organization"},"image":{"@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Design-sans-titre-1.png","keywords":["keeping up with the market"],"articleSection":["Belgium\/Luxembourg"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/","url":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/","name":"Where does the belgian insurance sector stand?","isPartOf":{"@id":"https:\/\/www.asquarepartners.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#primaryimage"},"image":{"@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Design-sans-titre-1.png","datePublished":"2025-06-02T05:25:03+00:00","dateModified":"2025-06-04T07:43:39+00:00","description":"The National Bank of Belgium (NBB) continues to closely monitor the financial system, aiming to safeguard its stability through proactive risk detection and targeted regulatory measures.","breadcrumb":{"@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#primaryimage","url":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Design-sans-titre-1.png","contentUrl":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/06\/Design-sans-titre-1.png","width":600,"height":450,"caption":"NBB Financial Stability Report 2025"},{"@type":"BreadcrumbList","@id":"https:\/\/www.asquarepartners.com\/where-does-the-insurance-sector-stand%ef%bd%9cbelgium\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.asquarepartners.com\/"},{"@type":"ListItem","position":2,"name":"Where does the belgian insurance sector stand?"}]},{"@type":"WebSite","@id":"https:\/\/www.asquarepartners.com\/#website","url":"https:\/\/www.asquarepartners.com\/","name":"Asquarepartners.com","description":"Asquare Partners is an international headhunting company operating in the insurance industry, specialised in actuarial science, risk management and data science.","publisher":{"@id":"https:\/\/www.asquarepartners.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.asquarepartners.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.asquarepartners.com\/#organization","name":"Asquarepartners.com","url":"https:\/\/www.asquarepartners.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.asquarepartners.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/07\/cropped-ASQP-Logo-2024_250100.png","contentUrl":"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/07\/cropped-ASQP-Logo-2024_250100.png","width":350,"height":100,"caption":"Asquarepartners.com"},"image":{"@id":"https:\/\/www.asquarepartners.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.asquarepartners.com\/#\/schema\/person\/4031ebe4db01fcaa426a5eaf4c9b65dc","name":"Asquarepartners","url":"https:\/\/www.asquarepartners.com\/en\/author\/asquarepartners_adm\/"}]}},"_links":{"self":[{"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/posts\/24110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/comments?post=24110"}],"version-history":[{"count":0,"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/posts\/24110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/media\/24380"}],"wp:attachment":[{"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/media?parent=24110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/categories?post=24110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asquarepartners.com\/en\/wp-json\/wp\/v2\/tags?post=24110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}