Regulatory Alerts2012-10-25
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Ministerial Decree of 26 October 2012 setting the maximum reference rate for long-term life insurance operations
The Belgian Minister of Economy maintains the maximum reference interest rate for long-term life insurance operations at 3.75%, rejecting the National Bank of Belgium's decision to lower it to 2%. This decree applies to life insurance companies, allowing them to offer lower rates but prohibiting rates above the fixed maximum. The decision cites the need to preserve competition, product comparability, and long-term stability in light of Solvency II preparations and historical investment returns.
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