EU insurers’ fund holdings battered by Covid in Q1
Total asset portfolios declined 6% through Covid shock
Insurance firms in the European Union saw €352.2 billion ($416.8 billion) wiped from their fund assets over the first three months of 2020, data from the European Insurance and Occupational Pensions Authority (Eiopa) shows.
Total assets identified as collective investment undertakings, the regulatory term for funds, made up €3.38 trillion (31%) of insurers’ total asset portfolios as of Q1 2020, down over 9% on Q4 2019.
Equity assets, both listed and non-listed, dropped the most percentage
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