2018 Life insurance figures: net subscriptions total €22.4 billion Euros, an encouraging annual result notwithstanding a negative month in December
In an uncertain economic and financial climate, net subscriptions for life insurance totalled €22.4 billion in 2018, a very clear increase as compared with 2017 (€8.3 billion).
Having provided support of almost €11 billion to equity financing over the year, the highest level since 2007, French insurance has played a full role in financing businesses and supporting productive investment.
This performance was achieved notwithstanding a slow month in December (-€0.6 billion, the only negative month in 2018), notably as a result of a fall in investment in unit-linked products due to the concern of savers faced with market volatility (€0.2 billion in December 2018 compared with €2.1 billion in December 2017).
In an economic climate marked by a fall in GDP growth (1.5%, compared with 2.3% in 2017) and overall stability of household financial investment, life insurance is experiencing a recovery.
At €39.5 billion, 2018 was the best year in history in terms of subscription volumes for unit-linked products.
Ranking in third place in terms of gross annual subscriptions after 2010 and 2006, the amount of subscriptions collected by insurance companies was €140.1 billion (€134.6 billion in 2017).
Benefits fell to €117.7 billion (€126.3 billion in 2017).
The value of life insurance policies (mathematical provisions and provisions for profit-sharing) stood at €1 700 billion at the end of December 2018, up by 1% over a year.
In 2018, life insurance allowed for investment of almost €11 billion in shares, this amount constituting a high point since 2007.
For Bernard Spitz, President of the French Insurance Federation: “With 54 million policies and 38 million beneficiaries, life insurance continues to be the favourite investment for the French. Faced with the uncertainties of the future, this product protects savings by offering the best long-term guarantees, and fulfils its role in terms of financing the economy.”