The total assets of insurance corporations increased to 16,953 million euros in the first quarter of 2018, from 16,894 million in the previous quarter, the Bank of Greece said on Tuesday.
The central bank, in a report, said that the overall deposits of insurance corporations increased by 77 million euros in the January-March period, compared to the previous quarter, and stood at 1,238 million euros at the end of the first quarter of 2018. It should be noted that deposits with domestic credit institutions decreased by 6 million euros, whereas deposits with foreign credit institutions increased by 83 million euros. Deposits amounted to 7.3 pct of total assets in the first quarter of 2018, compared with 6.9 pct in the previous quarter.
Total holdings of debt securities marginally decreased to 10,142 million euros in the first quarter of 2018 from 10,145 million in the previous quarter. Debt securities amounted to 59.8 pct of total assets at end-March 2018 from 60.1 pct in the previous quarter. This development reflects on the one hand the decrease in the prices of Greek government bonds and on the other the net sales of foreign debt securities, which were counterbalanced by net purchases of domestic government securities.
Total holdings of investment fund shares decreased to 2,790 million euros compared with 2,851 million in the previous quarter. Investment fund shares amounted to 16.5 pct of total assets at end-March 2018, compared with 16.9 pct at end-December 2017.
Total holdings of shares and other equity, excluding mutual funds, stood at 522 million euros, almost unchanged from the previous quarter. Equity amounted to 3.1 pct of total assets at end-March 2018, unchanged from the previous quarter.
The prepayments of insurance premiums increased to 427 million euros from 408 million in the previous quarter. The amount of loans decreased by 5 million to 133 million euros, while other assets increased by 42 million euros to 1,078 million.
On the liabilities’ side, equity decreased by 39 million euros to 2,906 million at end-March 2018.