Ties between EU insurers and banks vary by country

Bonds, notes and equity issued by banks made up 16.32% of European Union insurers’ assets on average at end-2018, according to an industry watchdog report, although the share is far greater in certain member states.

Estonian insurers topped the list with the highest amount of bank exposures, at 45.1% of their total portfolios. Cypriot insurers followed with a 31% share and Swedish insurers with 30.7%.

On the flipside, Hungarian insurers had just 6.1% of their portfolios exposed to banks,