Net collection of life insurance has reached an unequal level since 2011, for the month of March (+2.2 billion euros), said France Assureurs on Wednesday. As for the period of the 1st quarter of 2022, during which inflow reached +8.4 billion euros.
This Wednesday, April 27, France Assureurs provided an update on life insurance. In March, as for the whole of the first quarter of 2022, net inflows almost reached the level of 2011. The amount of deposits less that of withdrawals (net inflows) rose 2.2 billion euros in March (2.5 billion in March 2011) and 8.4 billion for the first quarter (9.6 billion for the first quarter of 2011).
The share of contributions in units of account (UA), more risky than funds in euros, exceeds that of the year 2021 (39%) and reached 40% since the beginning of the year. Total life insurance outstandings amounted to 1,857 billion euros at the end of March, up 2% year-on-year. Life insurance maintains a positive dynamic, welcomed the director general of the professional federation Franck Le Vallois.
During this first trimester, 128000 contracts life insurance companies were transferred under the PACTE law against 76,000 in the 4th quarter of 2021. No less than 4.5 billion euros (3.1 billion euros in the 4th quarter of 2021) were transferred, of which 900 million reinvested in UA.
In a still uncertain macro-economic and international context, the French consider life insurance as the benchmark savings product. Beyond the protection of their savings over the long term, life insurance also allows them to combine profitability and liquidity. Indeed, insurers are adapting to the needs of savers by diversifying their offers in order to offer the most relevant products and by simplifying contract transfers within the framework of the PACTE law, believes Franck Le Vallois.
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More than 3 million policyholders have a PER
In addition, at the end of March 2022, the threshold for 3million policyholders of a PER was exceeded for a total outstanding amount of 37.8 billion euros. 62,400 new policyholders took out a PER in March and 17,500 customers transferred old contracts to a PER for an amount of 612 million euros. Since January 1, 2022, France Assureurs has had 442,000 additional policyholders and 8.3 billion euros in payments.
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