Annual Report 2022
Combined ratio Disability

(in %)


Distribution of disability (income) insurance products is mainly through insurance advisors. With the a.s.r. label, a.s.r. is well positioned in the distribution channel serving self-employed individuals and SMEs. With the Loyalis label, a.s.r. has a good position in the government and education, transport, healthcare and other (semi-)public sectors. a.s.r. is the market leader with a market share of 32.7% (2021: 30.6%) in terms of GWP. The income insurance market grew slightly in size to 3.97 billion1.

Distribution through mandated agents has increased in recent years, reaching 664 million2. This is 16.7% (2020: 15%) of the total market (GWP) for income protection insurance. In 2022, 24.1% (2021: 23%) of a.s.r.'s GWP was realised through mandated agents.


a.s.r.’s income protection insurance offers various products divided into the following product lines:

  • Individual disability:

    • Products for self-employed individuals to protect loss of income in case of illness and disability until retirement age.

    • Products for employees to protect payment of fixed expenses and loss of income above the maximum daily wage due to illness and disability.

  • Absenteeism insurance:

    • Products to protect employers during employees’ continued payment of wages obligations for up to two years.

  • Group disability:

    • Products for employers to protect against the financial impact of self-insurance status.

    • Products for employees to protect loss of income in the event of (partial) disability in accordance with the rules and guidelines of the Work and Income according to Labour Capacity Act (Wet Werk en Inkomen naar Arbeidsvermogen; WIA).

Burnout awareness campaign

In 2022, a.s.r. conducted a second campaign aimed at raising burnout awareness. Many people do not anticipate a burnout, even though signs can be detected in retrospect. The campaign’s message is that it is good to be attentive to any concerns relating to mental health. This will prompt early recognition of excessive stress, and prevents burnouts. This way, a.s.r. helps breaking the taboo around mental health and burnouts and encourages people to have timely conversations about it with their employer, General Practitioner and/or social environment.

a.s.r. provides a wide range of prevention and reintegration services to customers of both a.s.r. Income and Loyalis. a.s.r.'s customers face societal developments that lead to high workloads and the need to keep employees employable and vital. With its services, courses, training programmes and a.s.r. Vitality, a.s.r. helps business owners and employers in keeping themselves and their staff employable in the long term.

a.s.r. adapts its products and services to changes in the social security system and monitors political developments so that employers can continue to meet government requirements in keeping employees employable. In 2022, for example, an absenteeism insurance specifically for SMEs (MKB Verzuim-ontzorgverzekering) has become a.s.r.'s key product that unburdens SME employers when it comes to the legal obligations relating to the re-integration of employees who have called in sick.

Product share Disability

(in %)

Strategy and achievements

a.s.r. aims to serve customers with best-in-class insurance products, prevention and reintegration services and an excellent service. Customers (self-employed individuals and employers) want to stay employable and prevent their employees from dropping out. And if that is not possible for a while, to be well assured of an income. a.s.r. wants to keep all its customers employable and insured. Through a.s.r.'s prevention and reintegration services, a.s.r helps its customers to ensure optimal employability of themselves and their employees. This helps reduce absenteeism among customers and control the cost of claims, keeping risks affordable and insurable.

a.s.r. focuses on further improving its service by digitising customer processes, reducing paper flows, offering convenience and personalised customer service. Examples include the further development of Mijn a.s.r. and the implementation of links with salary systems for a uniform and user-friendly participant administration. There are digital links with health and safety services so that a.s.r. can unburden the employer and pass on sickness and recovery reports of sick employees to chain partners.

NPS-c Disability

(score, -100 to 100)

Within the semi-public segment, a large master contract was signed in 2022 under the Loyalis label in the healthcare sector. This is partly due to the fully automated application process that participating institutions can use to ensure speed, convenience and predictability of the operational process. a.s.r. has launched a fully digital application process, allowing advisers and business owners to benefit from shorter lead times and have more insight into the progress of the acceptance process.

Besides a.s.r.'s professionalism and the skills of its employees, a.s.r.'s service is characterised by speed, quality and a personal approach. a.s.r. aims to build long-term relationships with its customers and insurance advisors. Customer appreciation is a key performance indicator. This is measured, among other things, through an NPS-c related to customer contact moments.

Outlook for 2023

a.s.r. does not expect any impactful changes in social security that will affect the insurance portfolio in 2023. The COR target (combined with P&C) for 2023 is 93-95%. An uncertain factor is the impact of economic and geopolitical developments on developments in inflation, interest rates, wage development and the eventual (extent of) economic growth and/or business closures/bankruptcies in 2023. a.s.r. continues to focus on the ecosystem of long-term employability with the aim of continued market leadership by leveraging its professionalism, knowledge of the social security market, prevention and reintegration services, whilst offering excellent service to customers and intermediaries and pursuing further chain integration.

The expected business combination with Aegon Nederland N.V. will have impact on Disability. For information about the proposed business combination, please refer to At a glance.

  • 1Source: Market shares DNB 2021. This does not include foreign providers licensed for the Dutch insurance market. 2022 market shares are not available yet.
  • 2Source: Mandated brokers 2021 market report Dutch Association of Insurers and NVGA, published in March 2022.