Germany non-life insurers' non-financial assets
Germany non-life insurers' non-financial assets stood at 13,323 EUR million in Q2 2026, according to Deutsche Bundesbank. It is one of the indicators in the Insurance corporation balance sheets table (Value · Quarterly), with a complete series running from Q3 2016 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Insurance corporation balance sheets table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets and liabilities | 833,160 | 819,487 | 787,906 | 785,612 | 783,420 | 781,535 | 759,823 | 757,244 | 743,657 | 748,576 | |
| Assets | |||||||||||
| Non-financial assets | 13,323 | 13,235 | 13,370 | 13,654 | 13,492 | 13,587 | 13,690 | 13,880 | 13,935 | 13,890 |
Understanding germany non-life insurers' non-financial assets
Tangible real property and operational capital directly owned by non-life insurers encompass commercial buildings, land, office facilities, and technical infrastructure. The series measures physical assets held for direct corporate administration alongside directly titled investment real estate yielding rental income. It also includes capitalised intellectual property, such as proprietary IT software and databases. The metric excludes indirect real estate holdings channelled through property funds or real estate corporations, which belong to equity assets, as well as mortgage-backed lending agreements recorded within loans.
Unlike tradable debt securities that revalue on active exchanges continuously, directly held real estate and corporate properties undergo periodic formal valuations, usually conducted on an annual cycle. Consequently, quarterly figures often display prolonged periods of minimal movement interspersed with discrete valuation revisions at calendar year ends. Regular depreciation on operational equipment and software exerts a gradual downward drift on non-property components. Year-on-year comparisons provide a far more realistic perspective on physical asset expansion or divestment than quarter-on-quarter calculations. Analysts tracking property exposure should not rely solely on this row, as the majority of institutional real estate exposure is held indirectly through collective investment funds.
Frequently asked questions
- Does this series capture all real estate owned by non-life insurance companies?
- No, this series only covers directly titled properties, land, and corporate premises. Real estate held through specialised property investment funds or corporate vehicles is classified within equity assets.
- How frequently are non-financial assets revalued on the balance sheet?
- Direct real estate is typically appraised annually rather than marked to market each quarter. Office equipment and technical software are depreciated progressively according to standard accounting schedules.
- Why do quarterly figures in this series often change very little?
- Physical property and corporate facilities are illiquid and traded infrequently. In the absence of major real estate purchases, sales, or annual reappraisals, balances reflect only regular accounting depreciation.