ECONOMY

Insurance companies see decline in their investments

Insurance company investment suffered a serious decline last year, according to official data released yesterday. An analysis of the financial reports of 64 firms in the sector showed total losses of 174.3 million euros in 2008, against total profits of 572.5 million euros in 2007. The impact of this performance on investment in stocks and other securities was considerable, as total investments shrank from 9.3 billion euros in 2007 to 8.9 billion euros in 2008. About 83.9 percent of insurers’ portfolios is made up of risk investments that are vulnerable to market fluctuations.