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In auto insurance, insurers commit to promote the use of spare parts from the circular economy following a claim.

In home insurance, insurers commit to promote the repair of damaged goods rather than their replacement.

In building insurance, insurers are involved in developing the reuse sector.

The French Insurance Federation (FFA) announced today a twofold initiative:

  • It is joining, as Network Supporter, the Principles for Responsible Investment (PRI), a global initiative launched in 2006 by investors in partnership with UNEP FI - the United Nations Environment Programme Finance Initiative - and the UN Global Compact.
  • The FFA is also becoming a Supporting Partner of the Net-Zero Asset Owner Alliance (NZAOA), which was launched under the aegis of the UN in 2019. The NZAOA brings together 48 investors representing $7 trillion in assets under management.

The French Insurance Federation has announced several new arrivals and appointments to roll out its transformation plan that launched in June 2021.

On 1 September, the French Insurance Federation set up a new organisational structure to strengthen its collective efficiency at the service of its 260 member insurance and reinsurance companies. 

This new organisational structure will enable the French Insurance Federation to align its operations with the three strategic priorities set by its members to proactively promote the insurance sector: to develop its capacity to engage in public debate, to communicate more to the general public and to strengthen its internal efficiency. 

July 2021 confirmed the momentum observed for several months in life insurance, with net inflows of +€1.1 billion and +€2.7 billion in unit-linked products.
Unit-linked business reached new record levels for July, with contributions of €4.9 billion over the month and cumulative net inflows since the beginning of the year of €22 billion.

In June 2021, life insurance reached levels not seen in over 10 years:

  • €13.7 billion in contributions month-on-month, more than €77 billion in the first half,
  • Net inflows in unit-linked products reached +€3,4 billion in June and almost +€19.3 billion in H1.

The June figures for the life insurance market confirm the trend that has been observed for several months: a growing share of unit-linked investments and the quick growth of Retirement Savings Plans (RSP).

Solvency II review: for a sustainable and competitive european

In December 2020, the European insurance supervisor (EIOPA) has submitted to the European Commission its Opinion on the ongoing Solvency II 2020 Review. The French Insurance Federation (FFA) believes that many proposals from EIOPA appear disputable not only in terms of efficiency, but also in terms of need and impact.

On 3 June 2021, the French Insurance Federation (FFA) and three trade unions - CFDT, CFE-CGC and UNSA - concluded three agreements on minimum wages for the collective bargaining agreements of insurance companies for the year 2021.

Eighteen months after the launch of the ‘Tibi’ funds, fifteen insurers have already supported French Tech companies massively, with investments that will reach EUR 3.2 billion by the end of 2021. They will continue their commitment, in particular to support the development of biotech players.

April 2021 confirmed the momentum observed in life insurance for several months, with EUR 1.6 billion in net inflows. Net unit-linked inflows reached +€2.9 billion in April and €10.8 billion since the beginning of the year, levels not seen since 2007.

In order to support SMEs in the face of the consequences of the health crisis, insurers are getting involved to stimulate the recovery by investing massively in the unprecedented scheme promoted by the French Ministry of the Economy, Finance and Recovery.

This scheme was set up in a few weeks by the French Treasury, the French Insurance Federation and the main French banking groups.

Implemented to support the recovery, this initiative will fuel the investment capacity of SMEs-ETIs by strengthening their balance sheet over the long term. This initiative will contribute to the growth of employment in our country.

18 insurers have joined forces for this first round of fund raising, in favour of SMEs and ETIs, which will be carried out through an ad hoc investment fund called ‘Relance’ Equity Loan Fund managed by several French asset managers selected by the French Insurance Federation. This first round of financing amounts to €11 billion, an unprecedented volume in France and in Europe, which will make it possible to finance up to 90% of the equity loans distributed by banks to dynamic companies. A second round is already planned for June 2021.