Dutch Insurer Defence Capital Allocation Simulator

Portfolio & Allocation Policy Strict Exclusion

Insurer Portfolio AUM €45.0 Billion

Target National Defence Push 2.5% (€1,125M)

Current Defence Allocation 0.40% (€180M)

ESG & Regulatory Filters

Controversial Weapons Exclusion Ottawa & Oslo treaties, cluster munition blanket bans

Strict Dual-Use Revenue Cap (5%) Blocks firms exceeding 5% military revenue ratio

Board UN PRI Ethical Exclusion Reputational & stakeholder mandate screens

Policy Counterfactuals

Dutch Sovereign Guarantee Envelope Reduces Private & Tier-1 SCR risk charge to 0%

Solvency II Qualifying Defence Infra Lowers Military PPP risk charge from 22% to 8%

Deployable Capital €562.5M Effective Alloc: 1.25%

Blocked by ESG €450.0M 40.0% of Target Blocked

Solvency II SCR Strain €64.8M SCR Capital Impact

Net Blended Yield 3.80% Weighted on deployed

Primary Friction Point: Controversial Weapons Blanket Screening & Board Mandate Uncertainty

Capital Flow & Friction Pipeline (EUR Millions) Target €1,125.0M Flow

Asset Class Allocation & Regulatory Screening Breakdown

Asset Class	Weight	Target Vol	ESG Mandate Status	SCR Charge	Capital Strain	Deployable