This section contains statistics on euro area insurance corporations and pension funds (ICPFs). ICPF statistics provide full balance sheet information not only for the ICPF sector as a whole, but also for the insurance corporation and pension fund sub-sectors, all of which are as defined in the European System of Accounts 1995 (ESA 95).
These statistics show the assets and liabilities of ICPFs located in the euro area as presented in the ESA 95.
The reporting population comprises all ICPFs located in the euro area, including ICPFs which are foreign-owned subsidiaries1 or branches of foreign entities. Branches and subsidiaries abroad of domestically owned entities are not included.
Statistics on euro area ICPFs cover those EU Member States that had adopted the euro at the time to which the statistics relate. Data on outstanding amounts and transactions include Slovakia as of March 2009 and Estonia as of March 2011.
Statistics are made available around three months after the end of the reference period. The time series date back to the first quarter of 2008 for quarterly data and 2008 for annual data.
National aggregates for euro area countries are published by the ECB with an annual frequency.
Outstanding amounts, or stock data, refer to the value of assets and liabilities at the end of the reference period. Outstanding amounts are available for all series published.
Transactions, or flow data, refer to the net acquisition of a given type of asset, or the net incurrence of a given type of liability, during the reference period. Transaction data are available only for insurance technical reserves.
Changes in outstanding amounts from one period to another can be due to transactions, price revaluations, exchange rate changes (in the case of instruments denominated in currencies other than the euro) or statistical reclassifications.
1 Subsidiaries are separate, distinct legal entities. For this reason, they differ from branches, which are businesses fully integrated within the main company and are not legally or otherwise distinct from the parent company. Subsidiaries are usually limited liability companies, while branches do not have their own legal status.