Capital levels for Sampension would have tripled under Solvency II without retreat from intentional guarantees

hasse-jorgensen-sampension

Without moving to intentional guarantees, €13 billion (£10.7 billion) Danish fund Sampension would have needed to triple its capital reserves from €1 billion to €3 billion, according to the organisation's chief executive, Hasse Jørgensen. Sampension announced it was to move to intentional guarantees in July this year, citing onerous capital charges for these products under Solvency II. Due to an increased awareness of the risks posed by these guarantees – whi