Statistics on euro area insurance corporations and pension funds: First quarter 2013

(PresseBox) ( Frankfurt am Main, )
In the first quarter of 2013, the total financial assets of euro area insurance corporations and pension funds increased to €7,843 billion, from €7,634 billion in the previous quarter. Over the same period, the insurance technical reserves, which are the main liabilities of insurance corporations and pension funds, increased to €6,536 billion, from €6,459 billion, due to positive transactions.

Regarding the breakdown of the assets of the aggregated balance sheet of euro area insurance corporations and pension funds, holdings of securities other than shares accounted for 40% of the sector's total financial assets at end-March 2013. The second largest category of holdings were investment fund shares, which contributed 24% to the total financial assets. Finally, shares and other equity accounted for 11% of the total financial assets.

Turning to transactions in the main breakdowns of the insurance technical reserves, the net equity of households in life insurance reserves increased by €44 billion in the first quarter of 2013. The net equity of households in pension fund reserves increased by €28 billion in the same quarter, while prepayments of insurance premiums and reserves for outstanding claims increased by €27 billion.

Regarding the contributions of the two sub-sectors, insurance corporations' total financial assets accounted for €6,103 billion in March 2013, representing 78% of the aggregated balance sheet of the insurance corporations and pension funds sector, while the pension funds' total financial assets amounted to €1,739 billion.

Notes

Further predefined tables, statistical data and methodological notes, as well as the advance release calendar, are available on the ECB's website at http://www.ecb.europa.eu/stats/money/icpf/html/index.en.html.
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