Financial assets of insurance corporations - France 2018Q1

Insurers continue to invest in mutual funds
At the end of March 2018, the financial assets of French insurance corporations were €2,509 billion worth (marked to market), almost unchanged from the previous quarter, as the small decrease in valuation was offset by €17 billion purchases.
Financial portfolio assets by type of assets
After the implementation of a look-through approach1, debt securities, i.e mainly bonds, accounted for 73% of insurer's portfolio. Equities represented 16% of the portfolio. The 11% residual amount was invested in mutual funds shares.

48% of the portfolio was invested in assets issued by residents, 41% in assets issued by non-residents and 11% in non-allocated mutual fund shares.

General governments are always the main issuers (28%), followed by NFCs (25%), banks and other monetary financial institutions or MFIs (20%), financial corporations (16%) and eventually 11% of non-allocated investment fund shares.
Financial portfolio assets by geographical area
Financial portfolio assets by issuers
1 The look-through approach consists in replacing the resident mutual funds shares in the insurance portfolios by the final investments of mutual funds when the information is available. The 11% residual amount correspond to these mutual funds shares (mainly non-resident) which cannot be allocated with this approach. After a look-through approach, the share of equities increased by +8 basis points (8% to 16%) and the one of debt securities by +10 basis points (63% to 73%).
Financial assets of insurance corporations - 1st quarter 2018
(EUR billion, outstanding amounts at market prices at end of period, variations, transactions, valuation effects during period)
Life and composite IC Non-Life IC Total IC
Flows Valuation effect Stocks Net flows Valuation effect Stocks Net flows Valuation effect Stocks
Currency and depositis 2.6 0.0 30 1.9 0.0 12 4.5 0.0 41
Debt securities
< ou= 1 year (original maturity) 0.4 0.0 20 0.0 0.0 0 0.4 0.0 20
> ou= 1 year (original maturity) -4.4 -5.8 1,381 1.2 -0.5 110 3.3 -6.3 1,491
Loans 0.6 0.0 38 0.3 0.0 9 0.8 0.0 47
Equity
Listed shares 2.3 -1.9 73 0.0 -1.0 15 2.3 -3.0 87
Unlisted shares 0.6 0.4 46 0.0 0.2 25 0.5 0.5 72
Others shares 0.5 0.3 18 0.0 2.1 23 0.5 2.3 41
Investment
Money market funds 3.0 -0.8 86 1.6 0.0 8 4.6 -0.8 94
Non money market funds 7.1 -7.9 576 -0.1 -0.3 35 7.0 -8.2 612
Financial derivatives 0.3 0.0 4 -0.2 0.0 0 0.1 0.0 4
Total 12.8 -15.8 2,272 4.6 0.4 237 17.5 -15.3 2,509
Date of next publication : 12 October 2018
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STAT INFO - 1st quarter 2018
Financial assets of insurance corporations

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Financial assets of insurance corporations - France
  • Published on 07/12/2018
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Published on Thursday, July 12, 2018