EIOPA Factsheet Maps Where European Insurers Invest
A factsheet published on 14 October 2026 uses 2025 Solvency II reporting to show how EEA insurers’ securities holdings are distributed between domestic markets, the wider EEA and the rest of the world.
What the factsheet measures
EIOPA says it collects and publishes comprehensive statistics on insurance undertakings in the European Economic Area. The factsheet focuses on insurers’ investments in securities and examines both home-market and cross-border exposure.
At the end of 2025, EEA insurers held EUR 7.9 trillion in government bonds, corporate bonds and equities. These holdings could be held directly or indirectly through investment funds. Total investments by EEA insurers amounted to EUR 9.9 trillion in 2025.
The figures are based on Solvency II solo annual reporting for 2025. They are therefore historical data tied to that reporting period, not a real-time measure of insurers’ current portfolios.
Home exposure still represents a substantial share
The factsheet divides securities holdings into three broad geographical categories:
- 38.2% was invested in the insurers’ home markets.
- 33.9% was invested elsewhere in the EEA.
- 27.9% was invested in the rest of the world.
This means that the source describes a portfolio with a substantial domestic share and substantial cross-border allocation. EIOPA also notes that preferences for home investments tend to be strongest among non-euro-area countries.
That is a description of portfolio geography—not a conclusion about the performance, safety or suitability of any particular insurer or investment.
What stands out about cross-border holdings
EIOPA reports that around three-quarters of cross-border investments remain within the EEA. US securities account for about half of external holdings, with a strong allocation to equities.
The factsheet also says that rising cross-border exposure in the euro area and Scandinavian countries has gone together with a growing share of unit-linked portfolios. This is an observed association in the published data; the source does not establish that one caused the other.
The visualisation further shows how cross-border investments have changed over time across asset classes and regions. It also highlights the concentration of each national market’s overall fixed-income and equity holdings by showing the share held through the top three issuer countries.
What the figures do not cover
The headline totals should not be read as a complete picture of every asset held by EEA insurers. EIOPA states that EUR 2.0 trillion of other investments are not represented in the factsheet. This excluded amount includes direct and indirect investments in structured notes, collateralised securities, mortgages and loans, cash and deposits, property and other investments, as well as unallocated amounts in investment funds.
The source also explains why these annual figures may differ from EIOPA’s quarterly exposure statistics. The differences reflect the use of look-through for investment funds where possible, broader annual-reporting coverage, and later corrections or resubmissions.
Accordingly, the factsheet should be used as a structured view of securities holdings, not as a full balance-sheet analysis or a direct indicator of property markets, mortgage conditions or household finances.
How to read the factsheet carefully
For a long-term financial decision, the useful next step is to keep the source’s boundaries visible:
- Label the time basis: treat the figures as data for 2025, published on 14 October 2026, rather than as current portfolio positions.
- Separate the categories: distinguish home-market holdings, other EEA holdings and rest-of-world holdings instead of treating all “foreign” exposure as one group.
- Check the asset scope: remember that the EUR 7.9 trillion securities figure does not include the EUR 2.0 trillion of other investments excluded from the factsheet.
- Check the methodology before comparing releases: annual Solvency II solo reporting, fund look-through, corrections and resubmissions can affect comparisons with quarterly exposure statistics.
- Look at concentration, not only geography: the top-three issuer-country measure adds information about how concentrated holdings are within each national market.
These steps do not produce an investment recommendation. They help prevent the source from being interpreted as a complete or up-to-date measure of every insurer’s assets.
Key takeaways and FAQs
How much did EEA insurers hold in government bonds, corporate bonds and equities at the end of 2025?
EEA insurers held EUR 7.9 trillion in government bonds, corporate bonds and equities at the end of 2025, directly or indirectly through investment funds.
What share of insurers’ securities holdings was invested outside their home market?
A total of 61.8% was outside the home market: 33.9% elsewhere in the EEA and 27.9% in the rest of the world.
Does the factsheet cover all EEA insurers’ investments?
No. EIOPA says EUR 2.0 trillion of other investments were not represented, including mortgages and loans, cash and deposits, property and other investments, and some structured or unallocated fund-related holdings.
What to take away
EIOPA’s factsheet provides a dated, structured view of how EEA insurers allocated their securities holdings at the end of 2025. Its central message is a mix of domestic exposure and extensive cross-border investment: 38.2% was home-bound, 33.9% went elsewhere in the EEA and 27.9% went to the rest of the world. The figures are useful for understanding portfolio geography and concentration, but they do not describe every insurer asset or establish direct effects on property markets, mortgage terms or household finances.
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This article is informational and does not replace financial, investment or mortgage advice.
