French non-life insurance premiums grow by 4.7%; life business up 3.1%

Written by Adam Cadle

01/06/2020

French non-life insurance premiums grew strongly by 4.7% in 2019, up from 3.3% in 2018, according to latest figures published by the Bank of France.

Life insurance business grew by 3.1%, slightly below the growth observed in 2019 (+3.3%).

The solvency of insurers subject to SII in France remained strong despite a sharp fall in interest rates in the second half of 2019. As at end-September 2019, the SCR coverage of the French market was 214% and at the end of 2019 it averaged 268%.

Investments of French insurance companies amounted to €2,711bn at the end of 2019, and insurers have invested approximately 10% of their life investments in shares or equity interests.

Sovereign and corporate bonds comprise around 58% of total portfolios.

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