Statistics on Insurance Corporations: Q2 2024
29/08/2024 - Press Releases
- Total assets of insurance corporations slightly increased by 0.1% to €20,599 million from €20,588 million in the previous quarter.
- Total insurance technical reserves decreased by €96 million to €15,339 million from €15,435 million in the previous quarter.
Total assets of insurance corporations increased by €11 million compared with the previous quarter and stood at €20,599 million at the end of the second quarter of 2024.
In further detail, the overall deposits of insurance corporations decreased by €4 million to €736 million at the end of the second quarter of 2024. Deposits to domestic credit institutions decreased by €22 million to €553 million, while deposits to foreign credit institutions increased by €18 million to €183 million. Deposits’ share in total assets remained unchanged at 3.6% in the second quarter of 2024.
Total holdings of debt securities increased to €10,610 million at the end of the second quarter of 2024 from €10,571 million in the previous quarter. This development is mainly due to net purchases of other euro area bonds, partially offset by sales of Greek government securities. Debt securities’ share in total assets increased to 51.5% in the second quarter of 2024 compared with 51.3% in the previous quarter.
Total holdings of investment fund shares stood at €5,820 million compared with €5,810 million in the previous quarter. Their share in total assets remained almost unchanged to 28.3% in the second quarter.
Equity holdings increased to €973 million compared with €960 million in the previous quarter. Their share in total assets remained unchanged at 4.7% in the second quarter of 2024.
On the liabilities side, own funds increased to €3,462 million at the end of the second quarter of 2024 compared with €3,443 million in the previous quarter. Total insurance technical reserves decreased by €96 million to €15,339 million. In particular, life technical reserves decreased by €137 million to €11,804 million, while non-life technical reserves increased by €41 million to €3,535 million. The share of life technical reserves amounted 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 third quarter of 2024 will be published on 27 November 2024, according to the Advance release calendar, as published on the Bank of Greece website.
Related link:
Aggregated balance sheet of insurance corporations