Statistics on Insurance Corporations: Q4 2024
27/02/2025 - Press Releases
- Total assets of insurance corporations increased by 1.3% to €21,250 million in the fourth quarter of 2024 from €20,980 million in the previous quarter.
- Total insurance technical reserves increased by €135 million to €15,800 million from €15,665 million in the previous quarter.
Total assets of insurance corporations increased by €270 million compared with the previous quarter and stood at €21,250 million at the end of the fourth quarter of 2024.
In further detail, the overall deposits of insurance corporations decreased by €115 million to €590 million at the end of the fourth quarter of 2024. Deposits with domestic credit institutions decreased by €89 million to €433 million, while deposits with foreign credit institutions decreased by €26 million to €157 million. Deposits’ share in total assets decreased to 2.8% in the fourth quarter of 2024 compared with 3.4% in the previous quarter.
Total holdings of debt securities decreased to €10,874 million at the end of the fourth quarter of 2024 from €10,985 million in the previous quarter. This development is mainly due to net sales of foreign bonds. Debt securities’ share in total assets decreased to 51.2% in the fourth quarter of 2024 from 52.4% in the previous quarter.
Total holdings of investment fund shares increased to €6,219 million compared with €5,979 million in the previous quarter. Their share in total assets increased to 29.3% in the fourth quarter of 2024 compared with 28.5% in the previous quarter. The increase of these holdings is mainly due to net purchases but also to valuation increases in other euro area investment fund shares.
Equity holdings decreased to €973 million from €995 million in the previous quarter. This development is due to net sales of domestic and foreign equities and as well as to the decrease in the prices of other euro area equities. Their share in total assets remained almost unchanged at 4.6% in the fourth quarter of 2024.
On the liabilities side, own funds decreased to €3,462 million at the end of the fourth quarter of 2024 compared with €3,551 million in the previous quarter. Total insurance technical reserves increased by €135 million to €15,800 million. In further detail, life technical reserves increased by €63 million to €12,166 million, while non-life technical reserves increased by €72 million to €3,634 million. The share of life technical reserves amounts to 77.0% of total technical reserves.
Table 1: Balance Sheet of Insurance Corporations (EUR millions at the end of the period)
Table 2: Net flows of investments of Insurance Corporations (EUR millions)
Chart 1
Chart 2
Notes:
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.
Related information:
The next Press Release on “Statistics on Insurance Corporations” for the first quarter of 2025 will be published on 28 May 2025, according to the Advance release calendar, as published on the Bank of Greece website.
Related link:
Aggregated balance sheet of insurance corporations