The asset value of insurance companies increased by €381 million euros in the third quarter of 2024 compared to the previous quarter and stood at €20.980 billion.

More specifically, according to the Bank of Greece data , total deposits of insurance companies decreased by €31 million and stood at €705 million at the end of the third quarter of 2024. Deposits with domestic credit institutions decreased by €31 million and stood at €522 million, while deposits with foreign credit institutions remained unchanged at €183 million. Deposits as a percentage of total assets decreased to 3.4% in Q3 2024, compared to 3.6% in the previous quarter.

The value of insurance companies' total holdings of debt securities increased to €10,985 million at the end of Q3 2024, compared to €10.610 billion in the previous quarter. This development was mainly due to an increase in valuations of government bonds of other euro area countries and net purchases of non-euro area countries' bonds. The share of debt securities in total assets increased to 52.4% in the third quarter of 2024, up from 51.5% in the previous quarter.

The value of total mutual fund unit holdings increased to € 5.979 billion, up from €5,822 million in the previous quarter, and their share of total assets increased to 28.5% in Q3 2024, up from 28.3% in the previous quarter. The increase in the value of the placements was attributed to rising valuations as well as net purchases of Greek units.

The value of total placements in equities and other equity instruments increased to €995 million, compared to €971 million in the previous quarter, a development attributable to a rise in their valuations. Their share of total assets remained unchanged at 4.7% in Q3 2024.