The total asset value of insurance companies increased by €11 million compared to the previous quarter and stood at €20,599 million at the end of the second quarter of 2024, the Bank of Greece announced.

More specifically, total deposits of insurance companies decreased by €4 million to €736 million at the end of the second quarter of 2024. Deposits with domestic credit institutions decreased by €22 million to €553 million, while deposits with foreign credit institutions increased by €18 million to €183 million. The ratio of deposits to total assets remained unchanged at 3.6% in Q2 2024.

The value of insurance companies' total placements in debt securities increased to €10,610 million at the end of the second quarter of 2024, compared to €10,571 million in the previous quarter. Net purchases of bonds from other euro area nations, which partially offset liquidations of Greek government bonds, were the main cause of this development. Debt securities as a percentage of total assets increased to 51.5% in Q2 2024, up from 51.3% in the previous quarter.

The value of total mutual fund unit holdings stood at €5,820 million, compared to €5,810 million in the previous quarter, and their share of total assets remained almost unchanged at 28.3% in Q2 2024.

The value of total equity and other equity investments increased to €973 million, compared to €960 million in the previous quarter. Their share of total assets remained unchanged at 4.7% in Q2 2024.

On the liabilities side, equity increased to €3,462 million at the end of the second quarter of 2024, compared to €3,443 million in the previous quarter.