Life insurance: Negative net inflows in September 2020
Net inflows for September were –€0.8 billion.
Insurance life premiums amounted to €9.4 billion. Paid-out benefits amounted to €10.2 billion.
From the start of the year, insurance companies collected €82.2 billion (compared to €109.5 billion over the same period in 2019). Payments to unit-linked products accounted for €28.1 billion, i.e. 34% of premiums.
Insurance companies paid out benefits of €89.5 billion (€88.8 billion over the same period in 2019).
Over the first nine months of the year, the total amount of benefits paid out (€89.5 billion) therefore exceeded the total amount of contributions received by insurers (€82.2 billion) with net inflows amounting to -€7.3 billion (in 2019, net inflows were €20.8 billion over the same period).
At the end of September 2020, in-force life insurance business (mathematical provisions + profit sharing provisions) stood at €1,760 billion.
The French are currently opting for savings solutions that are easier to unwind. Nevertheless, policyholders who do take out new life insurance policies or top-up their existing policies continue to invest in unit-linked products.