French Insurance Prices Expected to Increase in 2024: Aéma Group Director General

Another bill that will get heavier. The French must expect price increases in their insurance in 2024 which “will revolve around inflation”, declared this Friday, September 1 to AFP Adrien Couret, director general of the Aéma group, while the government wishes a new gesture of moderation of the profession. This statement by the boss of the entity bringing together Macif, Aésio and Abeille illustrates the reluctance of the sector to make new commitments after a year of effort, according to an article published Thursday by Argus de l’assurance.

“Honestly, the situation is very tough for insurers this year, but we will reiterate, like last year, our call for moderation in prices for daily insurance,” Bercy told the specialized media. In September 2022, insurers committed to keeping rate increases below the level of inflation for 2022 and 2023.

Increase in natural disasters

“Our profession has kept its commitments”, but this one “is difficult to keep over time”, argued Mr. Couret, referring to the bill for the June earthquake, estimated at 500 million euros, and that riots, which could be close to a billion euros. According to him, 2024 will therefore be marked by price increases in insurance which “will revolve around inflation”, insurers being faced with a rise in costs greater than the consumer price index.

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Asked by AFP, Franck Le Vallois, managing director of the France Assureurs federation, referred to the promise made a year ago, without committing to the future. This commitment having been made for 2022 and 2023, it “is still relevant” in this new school year, he argued, without mentioning 2024. Insurers regularly remind us of having to deal with the multiplication of natural disasters, but also very significant inflation in the cost of repairs, particularly in the automobile sector.

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