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On 3 June 2021, the French Insurance Federation (FFA) and three trade unions - CFDT, CFE-CGC and UNSA - concluded three agreements on minimum wages for the collective bargaining agreements of insurance companies for the year 2021.

Eighteen months after the launch of the ‘Tibi’ funds, fifteen insurers have already supported French Tech companies massively, with investments that will reach EUR 3.2 billion by the end of 2021. They will continue their commitment, in particular to support the development of biotech players.

April 2021 confirmed the momentum observed in life insurance for several months, with EUR 1.6 billion in net inflows. Net unit-linked inflows reached +€2.9 billion in April and €10.8 billion since the beginning of the year, levels not seen since 2007.

In March 2021, net life insurance inflows were positive at +€1 billion. Net inflows of unit-linked products amounted to +€2.1 billion, thereby contributing to financing the productive economy necessary for the recovery of our country.

In order to support SMEs in the face of the consequences of the health crisis, insurers are getting involved to stimulate the recovery by investing massively in the unprecedented scheme promoted by the French Ministry of the Economy, Finance and Recovery.

This scheme was set up in a few weeks by the French Treasury, the French Insurance Federation and the main French banking groups.

Implemented to support the recovery, this initiative will fuel the investment capacity of SMEs-ETIs by strengthening their balance sheet over the long term. This initiative will contribute to the growth of employment in our country.

18 insurers have joined forces for this first round of fund raising, in favour of SMEs and ETIs, which will be carried out through an ad hoc investment fund called ‘Relance’ Equity Loan Fund managed by several French asset managers selected by the French Insurance Federation. This first round of financing amounts to €11 billion, an unprecedented volume in France and in Europe, which will make it possible to finance up to 90% of the equity loans distributed by banks to dynamic companies. A second round is already planned for June 2021.

The French Insurance Federation (FFA) has announced measures to support insured farmers and is campaigning for a reform of agricultural risk insurance to encourage more professionals to protect themselves against climate hazards. Indeed, although comprehensive climate policies offered by insurers include “crop frost” coverage, too many farmers today choose to not get insured.

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.