Insurance Corporations Statistics – Q3 2020

Publication date: 09 December 2020 

Key Points

• Total assets rose by €14 billion during Q3 2020, to stand at €364 billion. Total assets have now recovered beyond their pre-COVID 19 levels at end-2019.

• Total liabilities have grown by €26.6 billion since the COVID-19 related fall in Q1 2020. €20.8 billion of that increase was in unit linked life insurance technical reserves (ITRs).

• Debt security holdings increased by €3.9 billion in Q3 2020 to stand at €67.1 billion. Holdings of debt securities issued by the private sector account for €2.7 billion of the increase.

Summary Charts

Chart 1: Investment fund shares and debt securities account for 59% of ICs assets, Q3 2020

Chart 2: Holdings of private sector(†) equity rose by €1.9 billion in Q3 to stand at €40.7 billion. The growth in holdings since Q1 2020 (€6.9 billion),  has been predominantly driven by increased holdings of non-financial corporation (NFC) equities.

*Other includes pension funds and insurance corporations

Chart 3: Insurance Technical Reserves (**ITRs) accounted for 85% of total liabilities at end Q3 2020

**ITRs are a liability on the balance sheet of an insurance corporation (IC). They are the funds an IC holds in reserve to cover their estimated claims. These are different to the asset insurance technical reserves and related claims.
†Private Sector includes monetary financial institutions (MFIs), other financial intermediaries (OFIs), non-financial corporations (NFCs), pension funds and insurance corporations (ICs).

Note: This statistical release references outstanding amounts for assets and liabilities of Insurance Corporations resident in Ireland.

Related Data Sets

Download the Insurance Corporation Statistics tables in CSV format.