Statistics on Insurance Corporations: June 2019

Δευτέρα, 02 Σεπτεμβρίου 2019 15:36
Statistics on Insurance Corporations: June 2019

In the second quarter of 2019, total assets of insurance corporations increased to €18,401 million from €17,717 million in the previous quarter.

In further detail, the overall deposits of insurance corporations remained unchanged at €1,287 million in the second quarter of 2019. Deposits with domestic credit institutions decreased by €13 million, while deposits with foreign credit institutions increased by €13 million. Deposits accounted for 7.0% of total assets in the second quarter of 2019 compared with 7.3% in the previous quarter.

Total holdings of debt securities increased to €11,237 million in the second quarter of 2019 from €10,669 million in the previous quarter mainly due to the increase in the prices of Greek government and euro area bonds and to the net purchases of Greek government bonds. Debt securities amounted to 61.1% of total assets at end-June 2019 from 60.2% in the previous quarter.

Total holdings of investment fund shares increased to €2,989 million from €2,890 million in the previous quarter. Investment fund shares accounted for 16.2% of total assets at end-June 2019 from 16.3% in the previous quarter. The increase in the value of the total holdings is mainly due to the increase in the prices of domestic investment fund shares.

Total holdings of shares and other equity excluding mutual funds shares increased to €599 million from €536 million in the previous quarter. Shares accounted for 3.3% of total assets at end-June 2019 from 3.0% of the previous quarter. The increase in the value of shares is due to the increase in the prices of shares listed in the Athens Stock Exchange and to net purchases of domestic shares.

On the liabilities side, own funds increased by €196 million to €3,028 million at end-June 2019. Total insurance technical reserves increased by €486 million to €13,614 million, due to the increase of life technical reserves. On the other hand, non-life insurance technical reserves decreased by €12 million from the previous quarter. Life technical reserves (other than pension entitlements) accounted for 71.4% of total technical reserves from 70.2% in the previous quarter. 

Table 1: Balance Sheet of Insurance Corporations (EUR millions at the end of the period)

 

Q1 2019

Q2 2019

Assets

   

Deposits

1,287

1,287

Domestic

851

838

Rest of the world

436

449

Debt Securities

10,669

11,237

Domestic

4,444

4,848

Rest of the world

6,225

6,389

Investment Fund Shares

2,890

2,989

Domestic

904

955

Rest of the world

1,986

2,034

Shares and other equity excluding investment fund shares

536

599

Domestic

395

454

Rest of the world

141

146

Fixed assets (net of depreciation)

625

650

Financial Derivatives

10

12

Loans

176

173

Prepayments of insurance premiums

449

418

Other Assets

1,074

1,037

Total Assets / Liabilities

17,717

18,401

Liabilities

   

Own Funds

2,832

3,028

Insurance technical reserves

13,128

13,614

Life insurance technical reserves

10,059

10,557

of which Pension entitlements

841

842

Non-Life insurance technical reserves

3,069

3,057

Loans

98

113

Other liabilities

1,659

1,646

Table 2: Net flows(2) of investments of Insurance Corporations (EUR millions)

Investments

Q1 2019

Q2 2019

Debt Securities

92

170

Domestic

153

117

Rest of the world

-60

53

Investment fund shares

157

31

Domestic

-2

-2

Rest of the world

158

33

Shares and other equity excluding investment fund shares

-2

30

Domestic

-2

26

Rest of the world

1

4

reserves tte

assets tte

The complete data set of insurance corporations is published on the Bank of Greece website and can be accessed via the following link:

http://www.bankofgreece.gr/Pages/en/Statistics/nomonetary/default.aspx

(1)Data to the Bank of Greece are submitted by the supervised insurance corporations as defined in article 1 of the Executive Committee Act 94/16.5.2016 concerning the single submission of national reports by insurance and reinsurance corporations to the Bank of Greece in the context of Solvency II for supervisory and statistical purposes.

(2)Net flows are derived from the change in the outstanding amounts of stocks corrected for revaluation and reclassification adjustments.

Note: The next Press Release on “Statistics on Insurance Corporations” for the third quarter of 2019 will be published on 2 December 2019.

Videos

  • 19th Hydra Meeting 2017 - 9
    • 19th Hydra Meeting 2017 - 9

    • Watch Video

  • 19th Hydra Meeting 2017 - 6
    • 19th Hydra Meeting 2017 - 6

    • Watch Video

  • 19th Hydra Meeting 2017 - 4
    • 19th Hydra Meeting 2017 - 4

    • Watch Video

  • 19th Hydra Meeting 2017 - 2
    • 19th Hydra Meeting 2017 - 2

    • Watch Video

Tα cookies μας βοηθούν να σας παρέχουμε καλύτερες υπηρεσίες. Χρησιμοποιώντας τις υπηρεσίες μας συμφωνείτε στη χρήση των cookies.
Ok