Banque de France – Financial Investments in Insurance Companies (France – Q3 2022) » PACA Economic and Policy Letter

The valuation of insurance companies’ securities fell by 82 billion.

At the end of September 2022, the outstanding financial investments of insurance companies amounted to 2,501 billion euros, which is a significant decrease of -73 billion euros in the third quarter.

The decrease is explained by a significant negative revaluation of assets (-82 billion), which is mitigated by positive net investment flows (+9 billion).
The new increase in long-term interest rates (+76 basis points for the 10-year OAT in the third quarter of 2022) reduced the valuation of long-term debt securities (-63 billion). The fall in the stock markets (-3% for the CAC 40 in the third quarter) also reduced the valuation of listed shares (-4 billion). The deterioration of the stock and bond markets also had consequences for the valuation of non-monetary funds, which also fell (-15 billion, of which -7 billion for equity funds and -3 billion for bond funds).
Positive net investment flows are the result of a high level of net loan flows (+8bn), especially intra-group loans of +5bn.

Financial investments in insurance companies - France - Q3 2022 B

They can also be explained by net purchases of short-term debt securities (+6 billion) and an increase in deposits (+6 billion). The net turnover of securities (-10 billion) is due to shares of money market funds (-13 billion) and to a lesser extent long-term debt securities (-7 billion).

1 thought on “Banque de France – Financial Investments in Insurance Companies (France – Q3 2022) » PACA Economic and Policy Letter”

  1. رقم فني المنيوم الكويت-معلم المنيوم شاطر الكويت – فني المنيوم هندي
    -شتر –فني شتر –  فني المنيوم -تركيب مطابخ – تفصيل مطابخ – فنى مطابخ المنيوم–  مطابخ المنيوم – تركيب شتر – تصليح
    شتر  –تفصيل المنيوم – المنيوم الكويت –فني المنيوم باكستاني

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