In January 2022, life insurance contracts had swelled by 3 billion euros. Pormezz / stock.adobe.com
Deposits exceeded withdrawals by 1.2 billion euros in January, an amount almost divided by three over one year.
Deposits on life insurance contracts exceeded withdrawals by 1.2 billion euros in January, according to figures published Thursday by France Assureurs, an amount almost divided by three over a year partly due to fierce competition Livret A. In January 2022, life insurance contracts had swelled by 3 billion euros.
“After the summer of 2022, net inflows (difference between deposits and withdrawals, editor’s note) in life insurance had oscillated from positive territory to negative territory from one month to the next.“, noted during a press briefing the general manager of the professional federation Franck Le Vallois, but”for a few months (she) has settled in positive territory“. All of the contributions, i.e. the sums paid into the contracts, totaled 14.1 billion euros, while the benefits (which include redemptions and payments in the event of death) amounted to 12.9 billion euros.
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Outstandings stable over one year
The detail of the supports is contrasted: the funds in euros underwent an outflow of 2.5 billion euros when the investments in units of account (UA), potentially more profitable but also more risky, recorded conversely an inflow net of 3.6 billion euros. Total life insurance outstandings were stable over one year: at the end of January, they stood at 1,871 billion euros, ie a good third of French savings.
Traditionally associated with New Year’s gifts, bonus payments and a time of least spending contrasting with the month of December, the first month of the year is generally favorable to savings. The Livret A has also taken the opportunity to refuel. Its outstandings swelled by more than 9 billion euros in January, indicated the Caisse des dépôts (CDC) on February 21. The amount is otherwise greater than life insurance despite a base – 375 billion euros for the Livret A – five times smaller.
With expected returns on average a little below 2% for last year, life insurance suffers in comparison with the Livret A, whose rate of return has been 3% net since February 1. Some 18 million people have life insurance, representing an average capital of around 100,000 euros per subscriber, often invested in several contracts.
SEE ALSO – Livret A: collection of more than 9 billion euros in January