EEA insurers’ investments are the subject of a new EIOPA factsheet. The publication sets out where insurers hold their securities and how those holdings are spread across issuer countries.
EIOPA Factsheet Puts Insurers’ Securities Holdings in Focus
The factsheet comes from the authority that collects and publishes comprehensive statistics on insurance undertakings in the European Economic Area (EEA).
According to EIOPA, At the end of 2025, EEA insurers held EUR 7.9 trillion in government bonds, corporate bonds and equities, either directly or indirectly via investment in funds.
In its notes, EIOPA puts total investments by EEA insurers at EUR 9.9 trillion in 2025. It adds that EUR 2.0 trillion of other investments are not represented in this factsheet.
Home Markets, the Wider EEA and the Rest of the World
On geography, the factsheet shows that around three-quarters of these investments remain within the EEA.
Home-bound investments account for 38.2% of securities holdings, while a further 33.9% is invested elsewhere in the EEA. Just over a quarter (27.9%) is invested in the rest of the world.
On the holdings outside the EEA, the factsheet says that US securities make up about half of these external holdings, with a strong allocation to equities.
Concentration by Issuer Country and Developments Over Time
The factsheet highlights the extent of concentration in each national market’s overall fixed income and equity holdings, showing the share of the holdings accounted for by the top 3 issuer countries for each market. The visualisation also illustrates that preferences towards home investments tend to be strongest among non-EA countries.
The final diagram shows how cross-border investments have evolved over time across asset classes and regions. The graphs indicate that the increase in cross-border exposure in the euro area and Scandinavian countries has gone hand in hand with a growing share of unit-linked portfolios.
InsuraBeat has separate coverage of EIOPA data on EEA insurers’ private assets.
Reporting Basis and What the Figures Exclude
The data is based on Solvency II solo annual reporting for 2025. In the same notes, EIOPA says that differences from EIOPA’s quarterly exposure statistics reflect the application of look-through to investment funds where possible, the more comprehensive coverage of annual reporting, and subsequent data updates resulting from corrections and resubmissions.
