Statistics on Insurance Corporations: Q4 2021 – Marketscreener.com
02/03/2022 – Press Releases
– Total assets of insurance corporations increased by 0.2% to €20,630 million from €20,586 million in the previous quarter.
– Total insurance technical reserves increased by €128 million to €15,163 million from €15,035 million in the previous quarter.
Total assets of insurance corporations increased by €44 million compared with the previous quarter and stood at €20,630 million in the fourth quarter of 2021.
In further detail, the overall deposits of insurance corporations decreased by €35 million to €1,655 million at the end of the fourth quarter of 2021. Deposits with domestic credit institutions decreased by €44 million to €928 million, while deposits with foreign credit institutions increased by €9 million and stood at €727 million. Deposits accounted for 8.0% of total assets in the fourth quarter of 2021 compared with 8.2% in the previous quarter.
Total holdings of debt securities decreased to €11,706 million in the fourth quarter of 2021 from €12,185 million in the previous quarter. This development is due both to sales of domestic government bonds and to the decrease of prices of Greek and other euro area government bonds. Debt securities’ share in total assets decreased to 56.7% at the end of the fourth quarter 2021, compared with 59.2% in the previous quarter.
Total holdings of investment fund shares increased to €4,350 million from €3,840 million in the previous quarter. Their share in total assets increased to 21.1% compared with 18.7% in the previous quarter. The increase of these holdings is mainly due to net purchases of foreign investment fund shares.
Equity holdings increased to €804 million in the fourth quarter of 2021 from €778 million in the previous quarter, mainly due to purchases of domestic equities. Their share in total assets stood at 3.9%, compared with 3.8% in the previous quarter.
On the liabilities side, own funds decreased by €111 million to €3,648 million at the end of the fourth quarter of 2021. Total insurance technical reserves increased by €128 million to €15,163 million. Life technical reserves increased by €108 million to €12.038 million. Νon-life insurance technical reserves increased by €20 million to €3,125 million. Life technical reserves (other than pension entitlements) accounted for 72.7% of total technical reserves.
Table 1: Balance Sheet of Insurance Corporations (EUR millions at the end of the period)
Q3
2021
Q4 2021
ASSETS
Deposits
1,690
1,655
Domestic
972
928
Foreign
718
727
Debt Securities
12,185
11,706
Domestic
4,876
4,543
Foreign
7,309
7,163
Investment Fund Shares
3,840
4,350
Domestic
1,067
1,086
Foreign
2,773
3,264
Equity
778
804
Domestic
541
553
Foreign
237
251
Fixed assets (net of depreciation)
690
703
Financial Derivatives
2
3
Loans
174
173
Prepayments of insurance premiums
431
431
Other Assets
796
805
TotalAssets/ Liabilities
20,586
20,630
LIABILITIES
Own Funds
3,759
3,648
Insurance technical reserves
15,035
15,163
Life insurance technical reserves
11,930
12,038
of which Pension entitlements
1,020
1,019
Non-Life insurance technical reserves
3,105
3,125
Loans
252
271
Other liabilities
1,540
1,550
Table 2: Net flows of investments of Insurance Corporations (EUR millions)
Investments
Q3 2021
Q4 2021
Debt Securities
58
-334
Domestic
-226
-254
Foreign
284
-80
Investment fund shares
91
441
Domestic
-27
10
Foreign
118
431
Equity
46
25
Domestic
26
20
Foreign
20
5
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.
Further Information:
Τhe next Press Release on “Statistics on Insurance Corporations” for the first quarter of 2022 will be published on 1 June 2022, according to the Advance release calendar, as published on the Bank of Greece website.
Related links:
Aggregated balance sheet of insurance corporations
