Annual Report 2021
Additional information
€STREuro Short-Term Rate
A&RCAudit & Risk Committee
AEXAmsterdam Exchange Index
AFActuarial Function
AFMDutch Authority for the Financial Markets
AGMAnnual General Meeting
AIArtificial Intelligence
AIFMAlternative Investment Fund Managers
AIFMDAlternative Investment Fund Managers Directive
ALMAsset Liability Management
AMXAmsterdam Midcap Index
APEAnnual Premium Equivalent
APFSASR Pensioenfondsen Services
AuMAssets under Management
AVBa.s.r. Asset management
BECBusiness Executive Committee
BKRCredit Registration Office
BMRBenchmarks Regulation
bpsBasis points
BRCBusiness Risk Committee
BREEAMBuilding Research Establishment Environmental Assessment Methodology
BSCRBasic Solvency Capital Requirement
BVPADutch Association for Public Affairs
CAPMCapital Asset Pricing Model
CBSStatistics Netherlands
CCAClient Clearing Agreement
CCBClimate, Community and Biodiversity Standard
CCPsCentral Clearing Counterparties
CCRCounterparty Credit Rating (Standard & Poor's)
CCTCentral Crisis Team
CDDCustomer Due Diligence
CDPCarbon Disclosure Project
CEOChief Executive Officer
CFOChief Financial Officer
CGUCash Generating Unit
CHFSwiss Franc
CICCentral Investment Committee
CISCentral Information System
CJEUCourt of Justice of the European Union
CLACollective Labour Agreement
CLFCCapital Liquidity and Funding Committee
CMDCapital Markets Day
CO₂Carbon dioxide
CO₂eCO₂ equivalent
CoCCost of Capital
COOChief Operating Officer
CORCombined Ratio
COSOCommittee of Sponsoring Organizations of the Treadway Commission
CROChief Risk Officer
CSACredit Support Annex
CSMContractual Service Margin
CSPConcentrated Solar Power
CSRCorporate Social Responsibility
CSRDCorporate Sustainability Reporting Directive
CTOChief Technology Officer
DBDefined Benefit
DCDefined Contribution
DCFDiscounted Cash Flow
DGBCDutch Green Building Council
DGIDiversity, equality and inclusion
DJSIS&P Global Dow Jones Sustainability Index
DNBDe Nederlandsche Bank (Dutch Central Bank)
DPAData Protection Authority
DPFDiscretionary Participation Features
DKKDanish Krone
DUFASDutch Fund and Asset Management Association
EBExecutive Board
EBBEnergy Saving Budget
EBVEnergy Savings Facilities
ECEuropean Commission
EDPBEuropean Data Protection Board
EEAEuropean Economic Area
EGMExtraordinary General Meeting
EIOPAEuropean Insurance and Occupational Pensions Authority
eNPSEmployee Net Promoter Score
EOFEligible Own Funds
EONIAEuro OverNight Index Average
ERMEnterprise Risk Management
ESGEnvironmental, Social and Governance
ESPPEmployee Share Purchase Plan
ESIEthibel Sustainability Index
ESRBEuropean Systemic Risk Board
EUEuropean Union
EuriborEuro interbank offered rate
EU SFAPEuropean Sustainable Finance Action Plan
FMAFuture Management Action
FRFinancial Risk
FRCFinancial Risk Committee
FRMFinancial Risk Management
FRPMFinance, Risk & Performance Management
FSCBFinancial Services Complaints Board
FTEFull-Time Equivalent
GBPPound Sterling
GBSMGroup Balance Sheet Management
GDPGross Domestic Product
GDPRGeneral Data Protection Regulation
GHGGreenhouse Gas
GISGeographic Information System
GMGeneral Model
GRCGovernance, Risk and Compliance
GRESBGlobal Real Estate Survey Benchmark
GRIGlobal Reporting Initiative
GRMGroup Risk Management
GWPGross Written Premiums
HKDHong Kong Dollar
IASInternational Accounting Standards
IASBInternational Accounting Standards Board
IBNRIncurred But Not Reported
i-CERTCyber security partnership between insurance companies
IASInternational Accounting Standards
IBORInterbank Offered Rates
ICTInformation and Communications Technology
IDDInsurance Distribution Directive
IFRSInternational Financial Reporting Standards
IFSRInsurer Financial Strength Rating (Standard & Poor's)
IIRCInternational Integrated Reporting Council
IMPIndividual Monitoring Plan
IORPInstitution for Occupational Retirement Provision
IPOInitial Public Offering
IRBCInternational Responsible Business Conduct
ISDAInternational Swaps and Derivatives Association
ISINInternational Securities Identification Number
ITInformation Technology
IUInvestor Update
KNMIRoyal Netherlands Meteorological Institute
KPIKey Performance Indicator
KYCKnow Your Customer
LAC DTLoss-Absorbing Capacity Deferred Tax
LAC TPLoss-Absorbing Capacity of Technical Provisions
LATLiability Adequacy Test
LDILiability-Driven Investing
LTOAgriculture and Horticulture Organisation Netherlands
LoCLevel of Concern
LTVLoan to Value
M&AMergers and Acquisitions
MCModel Committee
MiFIDIIMarkets in Financial Instruments Directive II
MSCIMorgan Stanley Capital International
MVModel Validation
N&ESGCNomination & ESG Committee
NABNetherlands Advisory Board on impact investing
NCSCNational Cyber Security Centre
NFRNon-Financial Risk
NFRCNon-Financial Risk Committee
NGOsNon-governmental and non-profit organisations
NHGNational Mortgage Guarantee
NLFINL Financial Investments
NPSNet Promoter Score
NSLTSimilar to Non-Life Techniques
NSRDutch Debt Assistance Route
NZIANet-Zero Insurance Alliance
OCCOrganic Capital Creation
OCIOther Comprehensive Income
OECDOrganisation for Economic Co-operation and Development
ORMOperational Risk Management
ORSAOwn Risk and Solvency Assessment
OTCOver the Counter
OTSOSupervised entity
P&CProperty & Casualty
p.a.per annum
PARPProduct Approval & Review Process
PCAFPartnership for Carbon Accounting Financials
PVFCFPresent Value of Future Cash Flows
RARisk Adjustment
RASRisk Appetite Statements
RCRemuneration Committee
RGReview Group
RIVMDutch Institute for Public Health and Environment
RMRisk Management
RMFRisk Management Framework
RICSRoyal Institution of Chartered Surveyors
ROEReturn on Equity
RT1Restricted Tier 1
RVODutch Enterprise Agency
RVUEarly Retirement Regulation
S&PStandard & Poor's
SAAStrategic Asset Allocation
SaaSSoftware as a Service
SBSupervisory Board
SBBShare buyback
SBTiScience-Based Targets initiative
SCCStandard Contractual Clauses
SCRSolvency Capital Requirement
SDGsSustainable Development Goals
SERDutch Social and Economic Council
SFCRSolvency and Financial Condition Report
SFDRSustainable Finance Disclosure Regulation
SGSteering Group
SIRASystematic Integrity Risk Analyses
SLTSimilar to Life Techniques
SMESmall and Medium-sized Enterprises
SOFRSecured Overnight Financing Rate
SONIASterling Overnight Index Average
SPPISolely Payment of Principle and Interest
SRAStrategic Risk Analysis
SRISocially Responsible Investment
TCFDTask Force on Climate-related Financial Disclosures
TIBERThreat Intelligence-Based Ethical Red team
TVOGTime Value of Financial Options and Guarantees
TWDNew Taiwan Dollar
UFRUltimate Forward Rate
UKUnited Kingdom
UNGCUnited Nations Global Compact
UNGPsThe United Nations Guiding Principles on Business and Human Rights
UN PRIUnited Nations Principles for Responsible Investments
UPOUniform Pension Statement
USUnited States
USDUnited States Dollar
UWVEmployee Insurance Agency
VAVolatility Adjustment
VATValue Added Tax
VBDODutch Association of Investors for Sustainable Development
VCSVerified Carbon Standard
VFAVariable Fee Approach
VKGVan Kampen Groep
VNABInsurance Exchange Association
VOBAValue of Business Acquired
VPLEarly retirement and life cycle
WCAGWeb Content Accessibility Guidelines
WftFinancial Supervision Act
WGWorking Group
WGAResumption of work by Partially Disabled Persons
WIAWork and Income Act
WnPEmployee's pension