French life insurers record net inflows of -€0.7bn

Written by Adam Cadle

24/07/2020

French life insurers recorded net inflows of -€0.7bn in June 2020.

According to latest figures published by the French Insurance Federation, net inflows for the first six months of the year were – €4.7bn (compared to €15bn over the same period in 2019).

The progressive return to normal economic activity in the country has driven an increase in the amount of insurance life premiums collected (€9.9bn) - significantly higher than in April and May (€6.4bn and €5.7bn respectively). Paid-out benefits amounted to €10.5bn in June. Insurance companies paid out benefits of €59bn since the start of the year, compared to €59.1bn over the same period in 2019.

From the start of the year, insurance companies collected €54.3bn of premiums, compared to €74bn over the same period in 2019. Payments to unit-linked products accounted for €19bn, i.e. 35% of premiums.

At end June 2020 in-force life insurance business (mathematical provisions + profit sharing provisions) stood at €1,766bn.

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