On 28 June, EIOPA published its first set of insurance statistics for the European insurance sector. The new statistics which relate to the 3rd quarter 2016, can be accessed via EIOPA’s website (https://eiopa.europa.eu/Pages/Financial-stability-and-crisis-prevention/Insurance-Statistics.aspx)
These statistics are based on solo Solvency II regulatory reporting and include aggregated country-level and EEA-level information about the balance sheet, own funds, capital requirements, premiums, claims and expenses of almost 3,000 insurance undertakings operating in Europe.
Each of these statistics is based on the relevant Solvency II Quantitative Reporting Templates (ie. S.02.01 for the balance sheet, S.23.01 for own funds and capital requirements, S.05.01 for premiums, claims and expenses)
From now onwards, EIOPA will be publishing these statistics on a quarterly basis, and will gradually increase the scope and level of detail thereof.
The ECB had done the same exercise for the euro area on 28 February this year (see link https://www.ecb.europa.eu/press/pdf/icpf/icpf16q3.pdf).
| The secretariat has carried out below for members’ convenience a rough comparison of the total asset aggregated balance sheet reported by EIOPA and the ECB for Q3 2016. ECB figures (Euro area) | EIOPA (for the EEA) | ||
| Aggregated balance sheet assets | €7,882 billions | €11,496 billions | |
The difference of approximately €3,600 billion can be easily explained by the UK (€2,813 billions), Norway (€176 billions), Sweden (€292 billions), Denmark (€426 billions) and Liechtenstein (€27 billions).