Sector accounts; financial balance sheets and transactions 1990 - q4 2013
| Balance sheets and transactions | Assets and liabilities | Sectors | Periods | Insurance technical reserves Total (mln euro) | Insurance technical reserves Net equity in life insurance reserves (mln euro) | Insurance technical reserves Net equity in pension funds reserves (mln euro) | Insurance technical reserves Other insurance technical reserves (mln euro) |
|---|---|---|---|---|---|---|---|
| Opening balance sheet | Assets | Insurance corporations and pension funds | 2013* | 8,340 | - | - | 8,340 |
| Opening balance sheet | Liabilities | Insurance corporations and pension funds | 2013* | 1,283,336 | 216,555 | 1,023,531 | 43,250 |
| Financial transactions | Assets | Insurance corporations and pension funds | 2013* | -351 | - | - | -351 |
| Financial transactions | Liabilities | Insurance corporations and pension funds | 2013* | 15,948 | -2,237 | 18,186 | -1 |
| Other changes | Assets | Insurance corporations and pension funds | 2013* | 169 | - | - | 169 |
| Other changes | Liabilities | Insurance corporations and pension funds | 2013* | 15,351 | 1,278 | 13,168 | 905 |
| Closing balance sheet | Assets | Insurance corporations and pension funds | 2013* | 8,158 | - | - | 8,158 |
| Closing balance sheet | Liabilities | Insurance corporations and pension funds | 2013* | 1,314,635 | 215,596 | 1,054,885 | 44,154 |
| Source: CBS. | |||||||
Table explanation
This table presents financial transactions, other changes in assets and financial balance sheets of the (sub)sectors of the national economy. The data provide a detailed overview of the changes to the financial relations between sectors and with the rest of the world. The financial flows are a logical extension of the current and capital accounts within sector accounts.
The financial balance sheets present outstanding assets and liabilities at the beginning and at the end of a period. Both financial transactions and other changes reflect the changes in value of these assets and liabilities during a particular period. These changes could be the result of agreements between parties (transactions) or the result of other causes such as revaluations (other changes). Balance sheets, financial transactions and other changes are related: Closing balance sheets last period (=opening balance sheets current period) plus financial transactions current period plus other changes current period = closing balance sheets of current period.
Data of the financial balance sheets, financial transactions and other changes are available for the main sectors of the economy: non-financial corporations, financial corporations, general government, households including non-profit institutions serving households (NPISH) and the rest of the world. The sectors financial corporations and general government are broken down into subsectors. Assets and liabilities are broken down into a variety of financial instruments.
Data available from:
Years from 1969 to 2013
Quarters from first quarter 2005 to fourth quarter 2013.
Status of the figures:
The figures concerning 2011, 2012, 2013 and 2014 are (revised) provisional. Because this table is discontinued, figures will not be updated anymore.
Changes as of June 25th 2014:
None, this table is discontinued.
When will new figures be published?
Not applicable anymore.
This table is replaced by table Sector accounts; financial balance sheets and transactions. See paragraph 3.
Description topics
- Insurance technical reserves
- Insurance technical reserves consist of all technical provisions of insurance corporations and (autonomous and non-autonomous) pension funds to fulfill their obligations to policy holders or beneficiaries.
- Total
- Insurance technical reserves consist of all technical provisions of insurance corporations and (autonomous and non-autonomous) pension funds to fulfill their obligations to policy holders or beneficiaries.
- Net equity in life insurance reserves
- The net equity of households in the life insurance reserves of resident and non-resident pension funds and life insurance companies is seen as a financial asset that belongs to resident and non-resident households.
The net equity of households in the life insurance reserves is built up as follows:
actual life insurance contributions (gross)
minus: compensation of insurance services (=consumption)
plus: supplement from investment income
= life insurance contributions
minus: life insurance benefits
= net equity of households in life insurance reserves
- Net equity in pension funds reserves
- The net equity of households in the pension funds reserves of resident pension funds and life insurance companies is seen as a financial asset that belongs to resident and non-resident households.
The net equity of households in the pension funds reserves is built up as follows:
actual contributions to pension schemes (gross)
minus: compensation of insurance services (=consumption)
plus: supplement from investment income
= contributions to pension schemes
minus: pension benefits
plus: imputed capital transfers
= net equity of households in pension funds reserves
- Other insurance technical reserves
- Other insurance technical reserves are financial assets of the beneficiaries that may belong to any sector. They consist of:
- prepayments of insurance premiums i.e. premiums payable in the current accounting period intended to cover risks outstanding during the following period.
- reserves for outstanding claims held by insurance corporations in order to cover the amounts they expect to pay out in respect of claims that are not yet settled.