Germany non-financial firms insurance and pension assets
Germany non-financial firms insurance and pension assets stood at 58 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Non-financial corporations' financial accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Non-financial corporations' financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total financial assets | 9,068.5 | 9,037.1 | 8,978.4 | 8,920.8 | 8,897.9 | 8,799.9 | 8,830.2 | 8,703.2 | 8,745.1 | 8,601.7 | |
| Insurance, pension and standardised guarantee schemes1 | 58 | 54.9 | 54.4 | 55.6 | 57 | 53 | 53.7 | 56.9 | 58.4 | 49.1 | |
| Non-life insurance technical reserves | 58 | 54.9 | 54.4 | 55.6 | 57 | 53 | 53.7 | 56.9 | 58.4 | 49.1 |
Understanding germany non-financial firms insurance and pension assets
Technical reserves with underwriting institutions and claims on pension arrangements constitute this collective balance sheet position. The aggregate measures financial assets held by non-financial enterprises against insurance corporations, pension funds, and guarantee providers. It encompasses prepayments of insurance premiums, reserves held by insurers for outstanding claims, and corporate entitlements in life insurance or external pension schemes arranged for personnel. Internal corporate pension provisions recognized as balance sheet liabilities are excluded; this series records only external claims where an insurer or separate pension entity is the counterparty. It also omits standard bank deposits and direct debt holdings.
Actuarial calculations and technical reserve submissions from regulated underwriters determine the valuation path of these assets. Because actuarial calculations and premium schedules follow annual cycles, quarter-to-quarter movements tend to be gradual and do not reflect financial market swings. Seasonal peaks can occur around the payment of annual insurance premiums at the beginning of the calendar period. Year-on-year comparisons provide the most appropriate view of structural growth in corporate insurance coverage and funded pension assets. Retrospective revisions are common when full supervisory insurance statistics and audited enterprise annual reports replace preliminary projections.
Frequently asked questions
- Does this series include internal pension reserves recognized on corporate balance sheets?
- No, internal direct pension commitments are corporate liabilities, whereas this series measures only claims held against external insurance companies and pension funds.
- What is the main source of corporate claims against insurance entities?
- Claims arise from prepaid insurance policies, provisions held by insurers for pending claim settlements, and external company pension insurance contracts.
- How are these insurance and pension positions evaluated?
- The positions are appraised using actuarial calculations and technical reserves reported directly by regulated insurance and pension administrators.