EU insurers most exposed to French sovereign risk
French government bonds make up 23% of sovereign exposures
European insurers are exposed to French sovereign risk the most of any country, data released by the European Insurance and Occupational Pensions Authority (Eiopa) shows.
At end-2017, 23% of all government bonds held by European insurers were issued by the French government. Italian sovereign debt made up 18% of holdings, UK gilts 10%, and German bunds 10%.
Exposures to peripheral eurozone countries – Portugal, Ireland, Italy, Greece, and Spain – made up 29% of all government holdings.
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