AM Best revises French life insurance outlook to stable

Written by Michael Griffiths

18/09/2025

AM Best has revised its outlook on the French life insurance market from negative to stable.

In its new report, Market Segment Outlook: France Life Insurance, AM Best said it expects the French life insurance segment to report “further growth over the next year”, despite headwinds from the wider economic and geopolitical conditions.

In 2024, France’s life insurance segment reported positive net flows at a level not seen for the past 10 years, while the credit rating agency highlighted that outflows on redeemable supports decreased for the first time in five years.

AM Best also noted that the segment’s performance has remained positive during the first six months of 2025, as premiums continued to grow well above projected GDP growth and net flows remained at record high levels.

“Domestic political instability and global geopolitical risk are headwinds for the segment, and fiscal measures taken by the Government, including a special high-income tax enacted in 2025, could have an offsetting impact on the segment’s revenue prospects,” AM Best said. “Nonetheless, the risk of a material uptick in surrenders has abated.”

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