German insurance companies have reduced their investments in Greek government debt to 10 percent of the year-ago level, Boersen Zeitung reported citing financial supervisory authorities.
Insurances companies’ exposure to other peripheral states’ bonds including Italy’s has fallen slightly, the newspaper said. Allianz, Italy’s second largest life insurer, holds 31.2 billion euros, or 6.6 percent of its capital in local government bonds, BZ added.
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