Q1 2020 overview of life insurance sector

Life insurers received 64.3 million euros in insurance premiums in the first quarter of 2020, which was 5% less than in the last quarter of 2019. The premiums were 1.5% more than in the first quarter of last year. Claims of 38 million euros were submitted in the first quarter of 2020, which was 20% more than in the fourth quarter of 2019. The combined assets of life insurance companies declined by 0.8% in the first quarter from 1.06 billion euros to 959 million.


Key indicators

Q4 2019 Change Q1 2020
Value of insurance premiums 68 mln € 64 mln €
Value of claims submitted 30 mln € 38 mln €
Value of assets of insurance companies 1,06 bln € 0,96 bln €
Value of insurance liabilities 749 mln € 701 mln €
Expenses as a ratio to net insurance premiums (cumulative) 13,7% 11,8%
Solvency capital requirement coverage ratio 158% 148%


The coverage of the solvency capital requirement by the life insurance sector fell from 158% to 148% in the first quarter, mainly because of changes in the risk-free interest curve used to discount liabilities. Both the life insurance companies met the requirement.