Private wealth pushes past 100-trillion-euro mark

Net private household wealth grew 8.1 percent last year to break the 100-trillion-euro barrier, according to financial services giant Allianz on Tuesday.

Although the stock market led to increasing wealth in Asian and American households, it was mostly accelerated savings efforts in households that drove this growth, according to Allianz's global wealth report. Households set aside much more of their money in savings in 2014, despite low interest rates, according to the annual study that looks at debts and assets of private households in over 50 countries.

Saving for rainy days still in order

Still, Allianz's chief economist Michael Heise warned against slacking off on saving.

"Policymakers should not try to restrict savings but find new ways and incentives to promote capital demand," said Heise. "There is no lack of investment opportunities because the challenges that lie ahead are huge: climate change, poverty and migration, digital revolution, outdated infrastructure - to name but a few."

North American households came out the richest, with net financial assets averaging 132,540 euros per capita - in contrast to Eastern Europe, with 2,720 euros per capita. But for the first time since the financial crisis, western Europe reported more growth than North America.

Asian wealth growing fastest

Still, a stark increase in securities assets especially in China has made Asian wealth - excluding Japan - grow the fastest at 16.6 percent.

It's also in Asia where one would now find two-thirds of the world's middle class - which itself is a growing category. Last year, the number of people considered middle class reached one billion for the first time. The middle class now claims about 17 percent of global assets, up 10 percent from the previous year.

Debt increased slower than wealth, although global liabilities grew enough at 4.3 percent - totaling 35 billion euros - to rise to the highest level seen since the financial crisis broke. This is a sign global debt is returning to normal, said Allianz.

But the insurers' report didn't only paint a rosy picture. The world's global wealth remains unevenly distributed. On average, the poorer population in the 53 countries in Allianz's study only held about 5 percent of the wealth.