The European Commission published its proposal for the revision of the motor insurance Directive.

FFA welcomes the Commission's proposals, as these follow the industry's responses given in the course of the prior consultation. The Commission proposes to extend to all member States compensation bodies that will function as a substitute in case of a company's insolvency. The Commission also suggests clarifying these bodies’ operating mode in the case of cross border activity. This proposal will improve the effectiveness of the compensation bodies in Europe.

Following the success of the first generation of NOVO funds, the largest investment funds dedicated to financing SMEs and medium-size enterprises, launched in 2013, the French Insurance Federation and Caisse des Dépôts welcome the launch of the NOVO 2018 fonds de prêts à l’économie (funds dedicated to lending to the real economy), comprising more than 470 million Euros.

Net inflows for February 2018 were 1.7 billion euros.

In February 2018, insurance companies collected 24.4 billion Euros of premiums (compared to 22.2 billion Euros over the same period in 2017). Payments to unit-linked products accounted for 7.6 billion Euros from the start of the year, i.e. 31% of premiums.

Meeting today in Brussels, the Member States adopted the Directive postponing the application of the Insurance Distribution Directive to 1 October 2018 at the latest. This decision follows the European Parliament's, taken on 1 March. Its effect is retroactive to 28 February 2018.