Life insurance: Negative net inflows in June 2020
Net inflows for June 2020 were – 0.7 billion euros.
The progressive return to normal of economic activity has driven an increase of the insurance life premiums that have been collected. They amounted to 9.9 billion euros – significantly higher than in April and May (6.4 and 5.7 billion euros respectively). Paid-out benefits amounted to 10.5 billion euros.
From the start of the year, insurance companies collected 54.3 billion Euros of premiums (compared to 74.0 billion Euros over the same period in 2019). Payments to unit-linked products accounted for 19.0 billion Euros, i.e. 35 % of premiums.
Insurance companies paid out benefits of 59.0 billion Euros (59.1 billion euros over the same period in 2019).
Net inflows of the first six months of the year were – 4.7 billion Euros (compared to 15.0 billion euros over the same period in 2019).
At end June 2020 in-force life insurance business (mathematical provisions + profit sharing provisions) stood at 1,766 billion Euros.