During its monthly press briefing this Thursday, France Assureurs took stock of the impact of the war in Ukraine on life insurance contracts. An impact considered minimal since the percentage of Russian and Ukrainian assets held by French insurers amounts to less than 0.03%.
What are the consequences of the war in Ukraine for your savings? The French Insurance Federation, which has just been renamed France Assureurs, provided an update this Thursday morning on life insurance. And this while the economic sanctions against Russia are increasing with, in particular, the freezing of foreign currency assets of the Russian central bank held abroad.
Franck Le Vallois, Managing Director of France Assureurs, explained that insurers are mobilized and obviously take these sanctions into account. But do not panic for investments in funds in euros. Russian and Ukrainian assets held by French insurers are lower 0.03%, reassures Franck Le Vallois. The impact therefore seems minimal.
Life insurance, stock market, bitcoin… How to protect your savings from the war in Ukraine
France Assureurs also made a market point. Life insurance is doing well. During its press conference, France Assureurs announced that life insurance premiums are set at 13.8 billion euros, up by 0.3 billion euros compared to January 2021. In units of account (UA), they amount to 5.5 billion euros (+0.8 billion euros compared to January 2021). Benefits as for them, fall by 0.4 billion and pass 10.8 billion euros.
Net inflow thus reached the threshold of 3 billion euros in January for the first time since April 2019. It results from net inflows of €3.8 billion in unit-linked funds and a drop of €0.8 billion in euro funds. Over one year, outstandings on life insurance contracts increased by 4.3% to rise today 1871 billion euros.
Life insurance: comparison of offers