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The IAIS warns against retrospectively covering Covid-19 losses

In a press release, the International Association of Insurance Supervisors (IAIS) warns against retrospectively covering Covid-19 losses (“to cover such claims could create material solvency risks and significantly undermine the ability of insurers to pay other types of claims”).
The IAIS added that “insurance is an essential service at this time of distress, providing protection against the heightened uncertainties created by the pandemic” and “for insurers to play this role, and to contribute to economic recovery, the stability of the sector is vital”.

3,2 milliards d’euros de mesures exceptionnelles pour faire face à la crise du COVID-19

In order to give their insurance customers maximum support to deal with the consequences of the health crisis, insurers have taken a series of non-contractual measures totalling 1.75 billion euros, in solidarity with the populations and businesses most at risk.

Florence Lustman, présidente de la FFA

The “war” against coronavirus is entering its third week. Each day that passes is a new battle for families who lose a loved one, for doctors and nurses struggling in our hospitals, for parents working from home at the same time as taking on the role of teachers for their children, for employers and employees fighting to saving their businesses.

European financial services will maintain support for customers, employees and the EU economy within governments’ boundaries during COVID19 pandemic

The European social partners – which include representatives of both financial sector employers and employees, and of which Insurance Europe is a member – will continue supporting their customers and the European economy to the best of their abilities within government-set boundaries during the COVID-19 pandemic.

Assurance vie : Collecte nette positive en février 2020

Net inflows for February 2020 were 1.4 billion euros.

From the start of the year, insurance companies collected 23.2 billion Euros of premiums (compared to 25.2 billion Euros over the same period in 2019). 

Payments to unit-linked products accounted for 8.4 billion Euros from the start of the year, i.e. 36 % of premiums.

Coronavirus: insurers mobilise and announce new exceptional measures to protect the people and businesses most seriously affected by the Covid-19 virus

Following the emergency measures announced last week, and those put in place by its members on an individual basis, this morning the FFA presented new solidarity measures to Mr Bruno Le Maire, Minister for the Economy and Finance.

Assurance vie : collecte nette positive en janvier 2020

Net inflows for January 2020 were 0.5 billion euros.

From the start of the year, insurance companies collected 11.8 billion Euros of premiums (compared to 12.7 billion Euros over the same period in 2019).

Payments to unit-linked products accounted for 4.0 billion Euros from the start of the year, i.e.    34 % of premiums.

Life insurance market: Positive net inflows in December 2019

Net inflows for December 2019 were 1.1 billion euros.

From the start of the year, insurance companies collected 144.7 billion Euros of premiums (compared to 139.7 billion Euros over the same period in 2018). 

Payments to unit-linked products accounted for 39.5 billion Euros from the start of the year, i.e.   27 % of premiums.

Life insurance market: Positive net inflows in November 2019

Net inflows for November 2019 were 1.2 billion euros.

From the start of the year, insurance companies collected 132.8 billion Euros of premiums (compared to 129.2 billion Euros over the same period in 2018). 

Payments to unit-linked products accounted for 34.8 billion Euros from the start of the year, i.e.   26 % of premiums.

15 tips to insure yourself wisely

Insurance protects you every day against the consequences of events you may have caused, or suffer.
There are different types of insurance: some protect you or your family from the fallout of an accident, some safeguard your property and your assets, others cover the consequences of damage you may have
caused. Without insurance, you would have to personally cover the consequences of any damage you cause or experience.

Knowing you better to better insure you

The mission of insurers is to protect you and your loved ones. To support you and your projects. To safeguard you against life’s difficult moments. The current evolution towards a digital world is changing our habits, our lives and our environment. That is why we want to stress our full commitment to ethics, transparency and security. We insurers collect and use personal data: your personal data. This is necessary in order to provide you with a high-quality service in the performance of our job.

Socially responsible savings with my life insurance policy...Yes it's possible!

Since 2018, French insurers are fully committed to include in their life insurance offerings at least one units of account (UC) vehicle carrying an ISR, ethical or climate label, in particular the TEEC label (Energy and Ecological Transition for Climate), or the ISR label (Socially Responsible Investment).

The floods that affected the south-east of France in November and December caused insured losses with an estimated total cost of 390 million Euros.

Insurers have already received more than 42,000 claims following the floods that struck the South-East on 22-24 November and 1 and 2 December this year. This figure could rise to 57,000 claims for the two events, with a total cost of insured damage estimated at 390 million Euros.

Signature of an agreement on the recognition and development of trade union career paths in the insurance sector

The French Insurance Federation (FFA) and four trade unions – CFDT, CFE-CGC, CFTC and UNSA – have signed an innovative agreement on the recognition and development of trade union career paths in the insurance sector, with the aim of ensuring the conditions exist for the sustainable development of the presence and activities of trade unions within the industry.

The lethal floods that affected south-east France from 22-24 November caused losses with a provisional estimated cost of 285 million Euros

Insurers have so far recorded almost 20,000 claims following the floods that hit the Alpes-Maritimes and Var departments between 22 and 24 November. The total cost of the insured damage is estimated at 285 million Euros for this period alone.

Publication of the insurance sector’s 3rd Baromètre ESG-climat

Taking the opportunity of Climate Finance Day 2019, to be held on 29 November in Paris, French insurers and reinsurers are wholeheartedly renewing their commitment to fighting global warming. The third edition of their Baromètre ESG-climat (Environmental, social, governance and climate barometer), published today, shows that the sector made significant progress in responsible investment in 2018. In addition, in keeping with the commitment it made on 2 July 2019, the FFA is passing on new NGO recommendations for defining a coal strategy.

Life insurance market: Positive net inflows in October 2019

Net inflows for October 2019 were 1,9 billion euros.

From the start of the year, insurance companies collected 121.8 billion Euros of premiums (compared to 117.5 billion Euros over the same period in 2018). 

Payments to unit-linked products accounted for 30.1 billion Euros from the start of the year, i.e. 25 % of premiums.

European insurance market in second place in the world

According to the annual study published by Insurance Europe, the European (re)insurance federation, Europe is in second place of the world global insurance market in 2018, behind Asia-Pacific and ahead of North America.

11th International Insurance Conference:  “Insurance for the long term in a short-term world”

Representatives of the main French, European and international actors in insurance met at the FFA on 25 October to discuss the major issues facing the sector. The event brought together more than 200 attendees – representatives of insurance and reinsurance undertakings, supervisory authorities, journalists – with some twenty influential speakers, including Bruno Le Maire, French Minister for the Economy and Finance, Jacques de Larosière, former managing director at the IMF, Michaela Koller, director general of Insurance Europe, Pierre Gramegna, Luxembourg’s Finance Minister, and François Villeroy de Galhau, governor of the Banque de France.

Replay of the 11th International Insurance Conference

The French Federation Insurance welcomed more than 20 prestigious speakers, key representatives of the French, European and International insurance authorities and regulatory bodies, CEOs and top executives from major global groups, alongside with recognised experts for its 11th International Insurance Conference on the theme "Insuring the long-term in a short-term world".