The French hold 1,900 billion euros in their life insurance contracts, but only 3.5 billion euros are invested in solidarity contracts according to the FAIR association, a stable figure over one year.
However, since January 1, 2022, all contracts have been required to offer a solidarity fund, in addition to an ISR labeled product (for socially responsible investment) and another Greenfin (a label that guarantees the green quality of investments). But these funds are often buried among the dozens, hundreds, or even thousands of units of account available in the contracts.
For the moment, few insurers are committing further to the solidarity approach. This is, however, the case of MAIF with its Responsible and Solidarity life insurance. The entire contract is Finansol certified [le label qui fait référence dans la finance solidaire, géré par FAIR] since 2022, the euro fund having received this sesame from 2020. This means that it must be invested up to 2.5% in assets financing sectors with social impact.
“Our euro fund, weighing 2.9 billion euros, goes further since it devotes 5% of its assets to financing the ESS [économie sociale et solidaire]or around 150 million euros, underlines Loïc Dano, savings product manager at MAIF. This is done partly directly and partly through our fund dedicated to solidarity investment. »
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The yield is 2.10% in 2022, in line with the market average. “The solidarity pocket therefore does not represent a significant cost in terms of performance”comments Loïc Dano.
Label Finansol
The MAIF contract offers fourteen units of account, including two solidarity funds (Insertion Emplois Dynamique, from Mirova and Choix Solidaire, from Ecofi), the other products all being ISR or Greenfin labeled. They cover all asset classes (shares, bonds, money market, diversified management, private debt, real estate).
Note that Generali Vie is also investing in solidarity since its Eurocroissance fund Generali Croissance Durable, with assets outstanding of 44 million euros, has just obtained the Finansol label in October 2023.
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It is invested in the ESS through two funds entirely dedicated to solidarity investment, Mirova Solidaire and Generali Investissement à Impact – managed by the specialist in private equity à impact INCO –, and themselves labeled Finansol. As for the other labeled life insurance contract, Solidarity Contract, from Crédit agricole Assurances, it is no longer marketed.
2024-01-24 12:22:32
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