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Financial assets of insurance corporations – France 2017Q3

Published on 01/12/2018
Over one year, 22% of insurers' net transactions are invested into equities
At the end of the 3rd quarter 2017, financial assets of French insurance corporations increased by €20 billion, to reach €2,502 billion. Over one year, insurers' net transactions were up to €45 billion of which 22% were invested directly in equities.
Financial portfolio assets by type of assets
After the implementation of a look-through approach1, debt securities accounted for 74% of insurer's portfolio. The share of equities increased slightly (+1 point) to reach 17% (including 8% of direct detention). The 9% residual amount invested in non-resident investments funds shares cannot be allocated).

49% of the portfolio was invested in assets issued by residents and 42% in assets issued by non-resident.

General governments were the main issuers (29%), followed by NFCs (24%), MFIs (20%) and financial corporations (18%).

Financial portfolio assets by geographical area
Financial portfolio assets by issuers
1 Look-through approach consists in replacing the resident mutual funds shares in the insurance portfolios by the final investments of mutual funds. 9% of these mutual funds shares cannot be allocated with this approach. After a look through approach, the share of equities increased by +9 points (8% to 17%) and the share of non-financial corporations by +8 points (16% to 24%), better reflecting the real contribution of insurance corporation to the financing of the economy.

NB: The data of the previous quarters have been revised. Financial assets at the end of Q2 2017 went from €2,490 billion to €2,482 billion.
Financial assets of insurance corporations - 3rd quarter 2017
(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 0.3 0.0 29 1.6 0.0 14 1.8 0.0 43
Debt securities
< ou= 1 year (original maturity) 0.6 0.0 21 0.0 0.0 0 0.5 0.0 22
> ou= 1 year (original maturity) -1.3 -1.4 1,389 0.7 0.1 107 -0.6 -1.3 1,496
Loans -0.7 0.4 39 0.0 0.0 8 -0.8 0.4 47
Equity
Listed shares -0.8 1.2 73 0.0 0.6 16 -0.8 1.8 89
Unlisted shares 1.7 0.2 50 0.2 0.1 26 1.9 0.2 76
Others shares 0.1 0.0 12 0.1 0.0 20 0.2 0.0 32
Investment
Money market funds 2.4 0.0 89 0.0 0.0 8 2.4 0.0 97
Non money market funds 10.2 3.7 562 0.6 0.2 35 10.8 3.9 597
Financial derivatives -0.2 0.0 4 0.0 0.0 0 -0.2 0.0 4
Total 12.2 4.1 2,268 3.1 0.9 234 15.2 5.1 2,502
Date of next publication : 12 April 2018
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STAT INFO - 3rd quarter 2017
Financial assets of insurance corporations

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Financial assets of insurance corporations - France
  • Published on 01/12/2018
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Published on Friday, January 12, 2018