Investments

Total investments in the property&casualty segment went from € 36,993 million at 31 December 2012 to € 37,689 million (+1.9%).

With reference to the exposure to the various asset classes, the weight of equity instruments increased from 6.9% at 31 December 2012 to 9.9% a due to both net purchases during the year and the increase in the market value of share prices. The weight of the fixed income portfolio decreased to 65.8% (69.3% at 31 December 2012). The exposure to real estate investments decreased slightly at 13.1% (14.1% at 31 December 2012) whereas cash and cash equivalents passed from 8.1% at 31 December 2012 to 10.0%.

Government bonds remained relatively stable at € 10,970 million (€ 10,833 million at 31 December 2012), equal to 49.1% (50.0% at 31 December 2012).

The exposure to corporate bonds increased at € 11,386 million (€ 10,832 million at 31 December 2012), with the relevant weight of 50.9% (50.0% at 31 December 2012).

Lastly, the average duration of the bond portfolio was 4 years (3.7 years at 31 December 2012).

 31.12.201330.09.201331.12.2012
(€ million)Total book
value
% of totalTotal book
value
% of totalTotal book
value
% of total
Equity instruments 3,748 9.9 3,295 9.0 2,558 6.9
Fixed income instruments 24,803 65.8 25,077 68.2 25,630 69.3
Bonds 22,356 59.3 22,576 61.4 21,665 58.6
Other fixed income instruments 2,447 6.5 2,501 6.8 3,965 10.7
Land and buildings (investment properties) 4,949 13.1 5,108 13.9 5,226 14.1
Other investments 417 1.1 497 1.4 601 1.6
Investments in subsidiaries, associated
companies and joint ventures
527 1.4 511 1.4 548 1.5
Derivatives -137 -0.4 -39 -0.1 29 0.1
Other investments 26 0.1 25 0.1 24 0.1
Cash and cash equivalents 3,772 10.0 2,771 7.5 2,979 8.1
Total investments 37,689 100.0 36,747 100.0 36,993 100.0
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P&C investment performance99.42 KB
Assicurazioni Generali S.p.A. - C.F. e P.IVA 00079760328