GREECE: Total assets and insurance reserves rise in the third quarter

12 December 2023 — Marina MAGNAVAL
In 3Q2023 an increase of 0.5% in total assets of insurance companies was registered compared to the previous quarter. The amount reached EUR 19,568 million, while insurance technical reserves increased to EUR 14,375 million from EUR 14,167 million in the previous quarter, writes.

According to the Bank of Greece, the total asset value of insurance companies increased in the third quarter by EUR 93 million. Total deposits rose by EUR 21 million and amounted to EUR 1,031 million at the end of September. Deposits in domestic credit institutions increased by EUR 31 million to EUR 776 million, while deposits in foreign credit institutions decreased by EUR 10 million to EUR 255 million. The ratio of deposits to total assets remained almost unchanged at 5.3% in 3Q2023, compared to 5.2% in 2Q2023.

On the liability side, equity decreased to EUR 3,494 million at the end of 3Q2023, vs EUR 3,569 million in the previous quarter.