Assets under management of Europe’s largest insurance groups rose by 6% in 2023 to EUR 4.6 trillion (up from EUR 4.1 trillion based on Solvency II QRT template S020102__R0500_C0010). This after a 16% drop last year.
Largest European insurance groups
Allianz remains Europe’s largest insurance group by total assets, followed by AXA, L&G and Generali. The top ten groups have kept their position in the past three years.
Insurance group asset allocation
The asset allocation of the groups reveals a few trends.
Bonds (S020102__R0130_C0010) still make up the largest asset class for most insurers, with the exception of the three UK groups. The figures reveal that Allianz reduced its bond portfolio significantly in 2018.
Other prominant investment types include the broad class of Assets held for index-linked and unit-linked contracts (S020102__R0220_C0010) and Collective Investments Undertakings (S020102__R0180_C0010)
While Equities (S020102__R0100_C0010) and, more prominantly, Derivatives (S020102__R0190_C0010) remain one of the least utilised asset classes by the groups.
Analysis of Group SFCRs 2023
SFCR 2023: Solvency II template S.25.05 partial and full internal model reporting
AXA Group reports highest Solvency II ratio to date
Eurovita portfolio transfer to Cronos Vita details
European insurance market insights 2023: group tier capital
Drivers of Solvency II ratio change 7 European insurance groups 2022 – 2023
More information about the data is available to premium subscribers of Solvency II Wire Data and subscribes to Solvency II Wire‘s exclusive SFCR Spotlight mailing list (subscribe for free here).
Datasets available on Solvency II Wire Data
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- Swiss Solvency Test (SST): all available data 2016 – 2022
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- Bermuda Financial Conditions Reports (BSCR): all available data 2016 – 2022
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- Bermuda Financial Statements: data for 226 insurers 2016 – 2022 (1090 reports) selected tables
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- Israel Economic Solvency Ratio Reports: all available data 2016 – 2022
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- Lloyd’s Syndicate filings: data for 143 syndicates 2016 -2022 (767 reports) selected tables
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- SOLVENCY II WIRE DATA Captive Hub
