Statistics on Insurance Corporations – Q4 2025
Total assets of insurance corporations increased by €195 million compared with the previous quarter and stood at €22,064 million at the end of the fourth quarter of 2025.
In further detail, overall insurance corporations’ deposits increased by €31 million to €558 million at the end of the fourth quarter of 2025. Deposits with domestic credit institutions increased by €19 million to €372 million, while deposits with foreign credit institutions increased by €11 million to €186 million. Deposits’ share in total assets remained almost unchanged at 2.5% in the fourth quarter of 2025.
Total holdings of debt securities decreased to €10,629 million at the end of the fourth quarter of 2025 from €10,719 million in the previous quarter. This development is mainly due to net sales of domestic bonds as well as decreases in prices of foreign bonds, despite net purchases of foreign bonds that took place. Debt securities’ share in total assets stood at 48.2% in the fourth quarter of 2025 from 49.0% in the previous quarter.
Total holdings of investment fund shares increased to €7,373 million compared with €7,143 million in the previous quarter. Their share in total assets increased to 33.4% in the fourth quarter of 2025 from 32.7% in the previous quarter. The increase in the value of these holdings arises mainly from upward revaluations of both foreign and domestic investment fund shares.
Equity holdings decreased to €1,034 million from €1,049 million in the previous quarter. This development is mainly attributed to decreases in domestic equity prices, but also to net sales of foreign equities. Equity holdings’ share in total assets remained almost unchanged compared with the previous quarter and stood at 4.7% in the fourth quarter of 2025.
On the liabilities side, own funds decreased to €3,897 million at the end of the fourth quarter of 2025 compared with €3,955 million in the previous quarter. Total insurance technical reserves increased by €62 million to €16,056 million. In further detail, life technical reserves increased by €116 million to €12,529 million, while non-life technical reserves decreased by €54 million to €3,527 million. The share of life technical reserves corresponds to 78.0% of total technical reserves.
Table 1: Balance Sheet of Insurance Corporations (EUR million at the end of the period)
Q3 2025
Q4 2025
ASSETS
Deposits
527
558
Domestic
353
372
Foreign
175
186
Debt Securities
10,719
10,629
Domestic
2,705
2,631
Foreign
8,015
7,998
Investment Fund Shares
7,143
7,373
Domestic
2,212
2,312
Foreign
4,932
5,061
Equity
1,049
1,034
Domestic
508
497
Foreign
541
537
Fixed assets (net of depreciation)
749
754
Financial Derivatives
0
0
Loans
187
213
Prepayments of insurance premiums
666
742
Other Assets
829
761
Total Assets / Liabilities
21,869
22,064
LIABILITIES
Own Funds
3,955
3,897
Insurance technical reserves
15,994
16,056
Life insurance technical reserves
12,413
12,529
Non-Life insurance technical reserves
3,581
3,527
Loans
343
485
Other liabilities
1,578
1,628
Table 2: Net flows of investments of Insurance Corporations (EUR millions)
Investments
Q3 2025
Q4 2025
Debt Securities
129
-59
Domestic
-5
-69
Foreign
134
10
Investment fund shares
98
67
Domestic
49
28
Foreign
49
39
Equity
-17
-7
Domestic
-99
-2
Foreign
82
-5
Statistics on Insurance Corporations – September 2019
In the third quarter of 2019, total assets of insurance corporations increased to €18,952 million from €18,401 million in the previous quarter.
In further detail, the overall deposits of insurance corporations increased by €66 million to €1,353 million in the third quarter of 2019. Deposits with domestic credit institutions increased by €107 million, while deposits with foreign credit institutions decreased by €41 million. Deposits accounted for 7.1% of total assets in the third quarter of 2019 compared with 7.0% in the previous quarter.
Total holdings of debt securities increased to €11,820 million in the third quarter of 2019 from €11,237 million in the previous quarter, mainly due to the increase in the prices as well as to the net purchases of Greek government bonds. Debt securities amounted to 62.4% of total assets at end-September 2019 from 61.1% in the previous quarter.
Total holdings of investment fund shares decreased to €2,959 million from €2,991 million in the previous quarter. Investment fund shares accounted for 15.6% of total assets at the end of the third quarter of 2019 from 16.3% in the previous quarter. The decrease in the value of the total holdings is mainly due to the net sales of domestic and foreign investment fund shares.
Total holdings of shares and other equity, excluding mutual funds shares, remained unchanged at €597 million compared with the previous quarter and accounted for 3.1% of total assets from 3,2% in the previous quarter.
On the liabilities side, own funds increased by €105 million to €3,133 million at end-September 2019. Total insurance technical reserves increased by €514 million to €14,128 million, mainly due to the increase of life technical reserves by €462 million. Νon-life insurance technical reserves increased by €52 million from the previous quarter to €3,109 million. Life technical reserves (other than pension entitlements) accounted for 72% of total technical reserves.
Table 1: Balance Sheet of Insurance Corporations (EUR millions at the end of the period)
Q2 2019
Q3 2019
Assets
Deposits
1,287
1,353
Domestic
840
947
Rest of the world
447
406
Debt Securities
11,237
11,820
Domestic
4,848
5,362
Rest of the world
6,389
6,458
Investment Fund Shares
2,991
2,959
Domestic
955
936
Rest of the world
2,036
2,024
Shares and other equity excluding investment fund shares
597
597
Domestic
454
437
Rest of the world
144
159
Fixed assets (net of depreciation)
650
646
Financial Derivatives
12
3
Loans
173
176
Prepayments of insurance premiums
418
434
Other Assets
1,037
965
Total Assets / Liabilities
18,401
18,952
Liabilities
Own Funds
3,028
3,133
Insurance technical reserves
13,614
14,128
Life insurance technical reserves
10,557
11,019
of which Pension entitlements
842
845
Non-Life insurance technical reserves
3,057
3,109
Loans
113
142
Other liabilities
1,646
1,550
Table 2: Net flows(2) of investments of Insurance Corporations (EUR millions)
Investments
Q2 2019
Q3 2019
Debt Securities
168
174
Domestic
117
220
Rest of the world
51
-46
Investment fund shares
31
-88
Domestic
-2
-46
Rest of the world
33
-42
Shares and other equity excluding investment fund shares
30
9
Domestic
26
-6
Rest of the world
4
15
Chart 1
Chart 2
The complete data set of insurance corporations is published on the Bank of Greece website and can be accessed via the following link: http://www.bankofgreece.gr/Pages/en/Statistics/nomonetary/default.aspx
Statistics on Insurance Corporations: June 2019
In the second quarter of 2019, total assets of insurance corporations increased to €18,401 million from €17,717 million in the previous quarter.
In further detail, the overall deposits of insurance corporations remained unchanged at €1,287 million in the second quarter of 2019. Deposits with domestic credit institutions decreased by €13 million, while deposits with foreign credit institutions increased by €13 million. Deposits accounted for 7.0% of total assets in the second quarter of 2019 compared with 7.3% in the previous quarter.
Total holdings of debt securities increased to €11,237 million in the second quarter of 2019 from €10,669 million in the previous quarter mainly due to the increase in the prices of Greek government and euro area bonds and to the net purchases of Greek government bonds. Debt securities amounted to 61.1% of total assets at end-June 2019 from 60.2% in the previous quarter.
Total holdings of investment fund shares increased to €2,989 million from €2,890 million in the previous quarter. Investment fund shares accounted for 16.2% of total assets at end-June 2019 from 16.3% in the previous quarter. The increase in the value of the total holdings is mainly due to the increase in the prices of domestic investment fund shares.
Total holdings of shares and other equity excluding mutual funds shares increased to €599 million from €536 million in the previous quarter. Shares accounted for 3.3% of total assets at end-June 2019 from 3.0% of the previous quarter. The increase in the value of shares is due to the increase in the prices of shares listed in the Athens Stock Exchange and to net purchases of domestic shares.
On the liabilities side, own funds increased by €196 million to €3,028 million at end-June 2019. Total insurance technical reserves increased by €486 million to €13,614 million, due to the increase of life technical reserves. On the other hand, non-life insurance technical reserves decreased by €12 million from the previous quarter. Life technical reserves (other than pension entitlements) accounted for 71.4% of total technical reserves from 70.2% in the previous quarter.
Table 1: Balance Sheet of Insurance Corporations (EUR millions at the end of the period)
Q1 2019
Q2 2019
Assets
Deposits
1,287
1,287
Domestic
851
838
Rest of the world
436
449
Debt Securities
10,669
11,237
Domestic
4,444
4,848
Rest of the world
6,225
6,389
Investment Fund Shares
2,890
2,989
Domestic
904
955
Rest of the world
1,986
2,034
Shares and other equity excluding investment fund shares
536
599
Domestic
395
454
Rest of the world
141
146
Fixed assets (net of depreciation)
625
650
Financial Derivatives
10
12
Loans
176
173
Prepayments of insurance premiums
449
418
Other Assets
1,074
1,037
Total Assets / Liabilities
17,717
18,401
Liabilities
Own Funds
2,832
3,028
Insurance technical reserves
13,128
13,614
Life insurance technical reserves
10,059
10,557
of which Pension entitlements
841
842
Non-Life insurance technical reserves
3,069
3,057
Loans
98
113
Other liabilities
1,659
1,646
Table 2: Net flows(2) of investments of Insurance Corporations (EUR millions)
Investments
Q1 2019
Q2 2019
Debt Securities
92
170
Domestic
153
117
Rest of the world
-60
53
Investment fund shares
157
31
Domestic
-2
-2
Rest of the world
158
33
Shares and other equity excluding investment fund shares
-2
30
Domestic
-2
26
Rest of the world
1
4
The complete data set of insurance corporations is published on the Bank of Greece website and can be accessed via the following link:
http://www.bankofgreece.gr/Pages/en/Statistics/nomonetary/default.aspx
(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.
Note: The next Press Release on “Statistics on Insurance Corporations” for the third quarter of 2019 will be published on 2 December 2019.
Statistics on Insurance Corporations – March 2019
In the first quarter of 2019, total assets of insurance corporations increased to €17,717 million from €17,042 million in the previous quarter.
In further detail, the overall deposits of insurance corporations decreased by €18 million from the previous quarter to €1,287 million in the first quarter of 2019. Deposits with domestic credit institutions decreased by €66 million, while deposits with foreign credit institutions increased by €48 million. Deposits accounted for 7.3% of total assets in the first quarter of 2019 compared with 7.7% in the previous quarter.
Total holdings of debt securities increased to €10,669 million in the first quarter of 2019 from €10,318 million in the previous quarter because of net purchases of domestic debt securities. Debt securities amounted to 60.2% of total assets at end-March 2019 from 60.5% in the previous quarter.
Total holdings of investment fund shares increased to €2,890 million from €2,668 million in the previous quarter. Investment fund shares accounted for 16.3% of total assets at end-March 2019, compared with 15.7% in the previous quarter. The increase in the value of the total holdings is due to the net purchases of foreign investment fund shares.
Total holdings of shares and other equity excluding mutual funds shares increased to €536 million from €510 million in the previous quarter. Equity accounted for 3.0% of total assets at end-March 2019, unchanged from the previous quarter. The increase in the value of shares is due to the increase in the prices of shares listed in the Athens Stock Exchange.
On the liabilities side, own funds increased by €60 million to €2,832 million at end-March 2019. Total insurance technical reserves increased by €535 million to €13,128 million, due to the increase of €494 million in life technical reserves. On the other hand, non-life insurance technical reserves increased by €41 million from the previous quarter. Life technical reserves (other than pension entitlements) accounted for 70.2% of total technical reserves from 69.3% in the previous quarter.
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.