Insurance Corporations Statistics – Q2 2020

Publication date: 07 September 2020 

Key Points

  • Total Assets increased by €12 billion to stand at €349 billion in Q2 2020. This follows a decline of €26 billion in Q1 2020 from a high of €363 billion at end-2019.
  • Holdings of investment fund (IF) shares increased by €12 billion in Q2 2020 after decreasing by €19 billion in the previous quarter.
  • On the liabilities side, unit-linked life insurance technical reserves (ITRs) increased by €18 billion this quarter after driving the €26 billion life ITR decline in Q1 2020. For unit-linked products, the policyholder bears the full investment risk; as such, this increase is likely driven by the rise in assets noted above.

Summary Charts

Chart 1: During Q2, holdings in currency & deposits (€21 billion), investment fund shares (€145 billion) and equity (€38 billion) reverted towards their pre-COVID values at end-2019

Total assets

Chart 2: Within investment fund shares, equity funds saw the largest decline in Q1 2020. This partially recovered in Q2 2020, with most other fund types returning to their end-2019 levels

Investment funds

Chart 3: The composition of ITR liabilities remained stable, with values recovering following their Q1 decrease

ITRs

ITRS ARE A LIABILITY ON THE BALANCE SHEET OF AN IC. THEY ARE THE FUNDS AN IC HOLDS IN RESERVE TO COVER THEIR ESTIMATED CLAIMS. THESE ARE DIFFERENT TO THE ASSET INSURANCE TECHNICAL RESERVES & RELATED CLAIMS.

Related Data Sets

Download the Insurance Corporation Statistics tables in CSV format.

Insurance Corporation Statistics | xls 53 KB Explanatory Notes - Insurance Statistics | pdf 334 KB