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.

Conférence de presse du 24 mars 2021 avec Florence Lustman, présidente de la Fédération Française de l'Assurance ©Mat Beaudet

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.

Financial education: the Fédération Française de l’Assurance announces the publication of a practical guide called “Saving with life insurance”

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.

Mixité, diversité et égalité professionnelles : les assureurs montrent la voie

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.

Teleworking: Insurers are applying the teleworking rule and maintaining service continuity for policyholders

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.

Life insurance: Positive net inflows in December 2020

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.

Life insurance: Negative net inflows in November 2020

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 €10.5 billion.

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.

Partnership between Assurance Prévention/Samusocial de Paris: 75,000 Covid prevention kits distributed to the most in need

In this period of health crisis, it is essential to make prevention available to all. To help the most vulnerable families, the insurers and their association Assurance Prévention have joined forces with Samusocial de Paris and are offering 75,000 Covid prevention kits.

The FFA details its “CATEX” project

The CATEX project is an insurance scheme that the FFA proposes to set up in partnership with the French State. It aims to cover companies against the financial consequences of a lockdown imposed by the public authorities within the framework of a pandemic or epidemic thanks to the payment of a “resilience lump-sum” enabling them to get through the crisis. Since the initial work presented to the government on 11 June, this draft scheme has evolved thanks to the exchanges with various stakeholders. It is a balanced insurance scheme that has just been presented to the public authorities, which will have to follow up on this proposal.

Life insurance: Negative net inflows in October 2020

Net inflows for October 2020 were 154 million. Insurance life premiums amounted to 10.9 billion, of which 34% were payments to unit-linked products. Paid-out benefits in October amounted to 11.0 billion.

Solvency 2

The Review of Solvency II is one of the most important topics in insurance regulation. Representatives of the EU-Commission, European Parliament, Member States, Supervisory Authoritites and the Insurance Industry discussed the actual proposals by EIOPA in a virtual panel organised by the Italian (ANIA), French (FFA) and German (GDV) insurance associations. A recording of these events are now online.

Signature of a Branch Agreement on Forward Employment & Skills Management and Vocational Education & Training

The French Insurance Federation and four trade unions - CFDT, CFE-CGC, UNSA and CFTC - have just signed a new agreement on the Forward Employment and Skills Management (FESM) and Vocational Education and Training (VET) within insurance companies.

Communiqué de presse des associations et fédérations représentatives des bailleurs et des commerçants relatif à la mise en œuvre du crédit d’impôt incitant à l’annulation des loyers des commerces fermés

Since the commitments made by the federations of landlords on 17 April and the establishment of a charter of best practices for the negotiation of Q2 2020 rent waivers or postponements, the members of the federations of landlords, the insurers and CDC Habitat have started implementing rent postponements and waivers for periods when shops are closed as part of discussions with their tenants. Some of these discussions are still ongoing and must continue.

Franck Le Vallois

The French Insurance Federation announces the appointment of Franck Le Vallois as Managing Director.

Chaired by Florence Lustman, the FFA brings together insurance and reinsurance companies operating in France. Franck Le Vallois’ mission will be to lead all the transformations that will contribute to supporting the changes occurring within the insurance sector.

The French Insurance Federation expresses its solidarity with policyholders in this new period of lockdown

As the country prepares for its second period of lockdown, the French Insurance Federation expresses its full solidarity with the French people and the entire community of policyholders.
Update : 4 november 2020

Insurance and sustainable finance

On the occasion of Climate Finance Day, the Paris financial market announced today the launch of the Sustainable Finance Observatory, a world first. This Observatory, in which the Fédération Française de l'Assurance (FFA) is participating, aims to contribute to transparency, monitoring and evaluation of the gradual transformation of the financial sector as a whole. On this occasion, the FFA is publishing a report (only in French) on “Sustainable Insurance and Finance”, with a focus on the sector’s 2019 key figures.

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.