The solvency ratio stood at 222% as at 31 December 2022 after distribution of the proposed dividend and the proceeds of the € 0.6 billion share issue and is based on the standard formula as a result of € 7,346 million EOF and € 3,307 million SCR.
The decrease of EOF was mainly driven by interest and spread developments and decreasing stock markets partially offset by organic capital creation and an increasing VA. The decrease of required was mainly the result of the development of market risks (interest, equity and spread).
Adjustment of other equity instruments (the other equity instruments excludes any discretionary interest);
Total net revaluation of assets, such as loans and mortgages, and revaluation of the technical provisions;
Other revaluations mainly elimination of goodwill;
Own fund items, for example addition of subordinated liabilities, other equity instruments (excluding any discretionary interest), foreseeable dividend and valuation difference of financial institutions.