Statistics on euro area insurance corporations and pension funds: Third Quarter 2011

(lifePR) ( Frankfurt am Main, )
At the end of September 2011, the total financial assets of euro area insurance corporations and pension funds were €13 billion lower than in June 2011. Over the same period, the insurance technical reserves, which are the main liabilities of insurance corporations and pension funds, decreased to €5,973 billion, from €5,987 billion, due to valuation changes.

Selected balance sheet items of insurance corporations and pension funds
(EUR billions; not seasonally adjusted; amounts outstanding at the end of the period; transactions during the period)

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 39% of the sector's total financial assets at end-September 2011. The second largest category of holdings were investment fund shares, which contributed 22% to the total financial assets. Finally, currency and deposits 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 €4 billion in the third quarter of 2011. The net equity of households in pension fund reserves increased by €13 billion in the same quarter, while prepayments of insurance premiums and reserves for outstanding claims decreased by €13 billion.

Regarding the contributions of the two sub-sectors, insurance corporations' total financial assets accounted for €5,495 billion in September 2011, representing 80% of the aggregated balance sheet of the insurance corporations and pension funds sector, while the pension funds' total financial assets amounted to €1,412 billion.
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