ECB’s latest data on asset allocation of Europe’s insurers

According to the ECB, the largest euro area insurers have been de-risking their balance sheets by reducing their exposure to equities and increasing their exposure to corporate and government bonds.  What is worrying about this chart is that it only shows the change from 2007 and 2008.  It will look much worse for equities when the 2009 data comes in!

ecb_calculations

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