Despite an uncertain economic and financial environment, net life insurance inflows in February 2021 were positive at +€1.6 billion. Unit-linked net inflows amounted to +€2.8 billion. France’s favourite investment confirms its key role in financing the French economy.
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.
In a climate of uncertainty, deprived of social interaction, leisure and, for some, work, the mental health of the French, and more particularly young people, is suffering a blow after a year of health crisis. Faced with the increasing number of situations of distress related to mental health, the insurers of the Fédération Française de l’Assurance, in conjunction with the Mutualité Française and the Institutions de Prévoyance, have decided to act and are setting up a new scheme.
In the context of the Financial Education Week, held from 22 to 28 March, the Fédération Française de l’Assurance has published a guide entitled “Saving with life insurance” to help individuals make long-term saving decisions and help them choose the life insurance policy best suited to their profile and projects, thanks to a series of key questions and good habits to adopt.
Net life insurance inflows were positive in January 2021, at +€2 billion. Unit-linked net inflows amounted to +€2.7 billion. Life insurance is picking up again, with net inflows in January 2021 almost four times higher than in December 2020, in line with the trend observed over the past few months.
The French Insurance Federation and five trade union organisations - CFDT, CFE-CGC, CFTC, FO and UNSA - have just made official, in the presence of French Minister Elisabeth Moreno, the signing of a new agreement on gender equality, diversity and equal work opportunities for women and men in insurance companies.
In response to the questions raised on telework in the insurance sector, the French Insurance Federation, Fédération Française de l’Assurance, would like to remind that insurers have promptly applied the telework rule for all roles that allow it, in accordance with the recommendations of the French Ministry of Labour, and with the sense of responsibility that is required of everyone under these circumstances.
Net inflows for December 2020 were +€550 million. These were the first positive monthly net inflows since the start of the health crisis. These positive net inflows confirm the last two months trend of a progressive return to balance and demonstrate the trust of the French in Life Insurance.
Net inflows for November 2020 were -€30 million and keep getting closer to balance, month after month. Insurance life premiums amounted to €10.4 billion, of which 34% were payments to unit-linked products. Paid-out benefits in November amounted to €10.5billion.
A further step has been taken in the implementation of the ‘Insurers - Caisse des Dépôts Sustainable Recovery France’ investment programme with the closing of the Healthcare component, a major part of this €2.2 billion programme. The last tranche, totalling €780 million financed by 19 insurers and 3 institutional investors, aims to strengthen health sovereignty in France by investing in healthcare research, infrastructure, logistics and services.