Operational risk concerns the risk of direct and / or indirect losses which can occur within a.s.r. as a result of inadequate or failing (changing) internal processes, people, systems and/or as a result of external events. Operational risks occurred are most times being caused by the failure of processes, people, systems, external events or a combination of these factors.
| | 31 December 2023 | 31 December 2022 |
|---|---|---|
| SCR operational risk - required capital | 437 | 200 |
The SCR for operational risk amounts to € 437 million at the end of 2023 (2022: € 200 million) and is determined with the standard formula under Solvency II. The operational risk is based on the basic SCR, the volumes of premiums and technical provisions, and the amount of expenses.
Operational risk increases due to the integration of Aegon NL. There is no benefit of diversification for operational risk.