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.

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.

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.

Like the entire country, the insurance sector was impacted by the crisis in 2020 but in this unprecedented context, insurers kept their commitments to their policyholders and even went beyond. They continued to protect their policyholders and made a significant contribution to supporting our country’s economy. The insurance sector is now playing a key role for a sustainable recovery.