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Financial assets of insurance corporations – France 2018Q2

Published on 10/12/2018
Insurers channel their investments in the second-quarter towards money market funds shares
At the end of June 2018, the financial assets of French insurance corporations reach €2 547 billion (marked to market). They increase by €22 billion compared to the first quarter, due to life and mixed insurance corporations' transactions
(+ €21 billion). Three-quarters of investments go to investment fund shares, mainly MMF shares (+ €11 billion). The valuation effects are low this quarter.
Financial portfolio assets by type of assets
After the implementation of a look-through approach (1), debt securities, i.e. mainly bonds, account for 73% of insurer's portfolio. Equities represent 15% of the portfolio. The remaining 12% is invested in mutual funds shares.

48% of the portfolio is invested in assets issued by residents, 40% in assets issued by non-residents and 12% in unallocated mutual fund shares.

Financial assets are split between general government (29%), NFCs (24%), banks and other monetary financial institutions or MFIs (19%), in financial corporations (16%) and finally 12% of unallocated 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 12% 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 +7 basis points (8% to 15%) and the one of debt securities by +11 basis points (62% to 73%).
Financial assets of insurance corporations - 2nd 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 1.5 0.0 32 0.5 0.0 12 2.0 0.0 45
Debt securities
< ou= 1 year (original maturity) 2.0 0.0 22 -0.1 0.0 0 1.9 0.0 22
> ou= 1 year (original maturity) -2.2 -5.9 1,382 -0.5 -0.4 110 -2.7 -6.3 1,492
Loans 2.2 0.0 40 -0.1 0.0 9 2.1 0.0 49
Equity
Listed shares -0.8 1.1 73 -0.1 0.0 14 -0.9 1.1 87
Unlisted shares 1.2 0.2 48 0.0 -0.1 25 1.2 0.1 73
Others shares 1.6 0.0 20 0.4 -0.2 23 2.0 -0.3 44
Investment
Money market funds 11.6 0.0 98 -0.2 0.0 7 11.4 0.0 105
Non money market funds 4.0 6.6 591 -0.4 0.2 36 3.6 6.8 626
Financial derivatives -0.1 4 0.0 0 -0.1 4
Total 21.0 1.9 2,310 -0.5 -0.5 238 20.4 1.5 2,547
NB: Previously published data have been revised (correction of reporting mistakes and use of annual data). For example, financial assets at first quarter 2018 went from €2 509 billion to €2 525 billion.
Date of next publication : 11 January 2019
More information on : methodology,long seriescalendar
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STAT INFO - 2nd quarter 2018
Financial assets of insurance corporations

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Financial assets of insurance corporations - France
  • Published on 10/12/2018
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Published on Friday, October 12, 2018