The life insurance market in France experienced a year in 2019 marked by an acceleration of collection to nearly 26 billion euros, according to figures published Friday, January 24 by the sector federation.
In 2018, net inflows, that is to say the sums deposited by savers less withdrawals, had reached 21.5 billion euros, recalls the French Insurance Federation (FFA) in a press release. In December 2019 alone, net inflows reached around 800 million euros.
In detail, total inflows in 2019 reached 144.6 billion euros, against 139 billion the previous year. As part of this harvest, payments on supports known as “units of accountRepresented almost 40 billion euros, or 27% of contributions.
In a context of very low, even negative, rates, insurance companies struggle to serve returns to customers with so-called contracts.in euros», Which designate investments whose remuneration is certainly modest but guaranteed regardless of the economic situation. This is why insurers have been trying for several months to encourage their customers to put more of their savings on supports in “units of account», Invested in riskier but also more profitable securities. The amounts paid by insurers to their customers last year represented almost 119 billion euros compared to just over 118 billion in 2018.
Life insurance contracts outstanding amounted to 1,788 billion euros at the end of December, up 6% year-on-year.