Generally speaking, insurance companies in northern and western Europe tend to hold higher-grade financial assets than their southern and eastern companions. In 2021, investments rated 'credit quality step 0' (the lowest risk assets available under this scale) accounted for 72 percent of Swedish insurance companies' financial assets, and 64 percent for Danish companies. Conversely, only 0.2 percent of Hungarian insurance companies' debt was rated this highly. A notable outlier here though is Iceland, whose insurance companies held no debt in step 0 or step 1 - a major difference to their Nordic cousins.
Credit quality step allocation of reported assets of insurance companies in Europe in 2021, by country
Characteristic
Credit quality step 0
Credit quality step 1
Credit quality step 2
Credit quality step 3
Credit quality step 4
Credit quality step 5
Credit quality step 6
No rating available
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According to the source, "Credit Quality Step (CQS) is a standardized scale of credit quality with mappings to the credit ratings of the largest ratings agencies. CQS 0-3 correspond to investment grade assets with 4-6 being non-investment grade."
Sample includes insurers with financial year end within the calendar year. Exchange rate conversions to EUR using ECB exchange rates as of reference date.
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EIOPA. (September 20, 2022). Credit quality step allocation of reported assets of insurance companies in Europe in 2021, by country [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1268930/insurance-company-investments-grade-country-europe/
EIOPA. "Credit quality step allocation of reported assets of insurance companies in Europe in 2021, by country." Chart. September 20, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1268930/insurance-company-investments-grade-country-europe/
EIOPA. (2022). Credit quality step allocation of reported assets of insurance companies in Europe in 2021, by country. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1268930/insurance-company-investments-grade-country-europe/
EIOPA. "Credit Quality Step Allocation of Reported Assets of Insurance Companies in Europe in 2021, by Country." Statista, Statista Inc., 20 Sep 2022, https://www.statista.com/statistics/1268930/insurance-company-investments-grade-country-europe/
EIOPA, Credit quality step allocation of reported assets of insurance companies in Europe in 2021, by country Statista, https://www.statista.com/statistics/1268930/insurance-company-investments-grade-country-europe/ (last visited July 22, 2024)
Credit quality step allocation of reported assets of insurance companies in Europe in 2021, by country [Graph], EIOPA, September 20, 2022. [Online]. Available: https://www.statista.com/statistics/1268930/insurance-company-investments-grade-country-europe/
