Life Insurance Breaks Record with €100 Billion Paid Out in 8 Months

Life insurance remains, by far, the preferred savings investment of the French. A new payment record broken in 2023.

Published on Sunday October 1, 2023 par Denis Lapalus

As expected, the net collection (payments – redemptions or settlements) of theLife insurance was negative in the month of August. The fall in the valuations of certain units of account, SCPIs in particular, will have a significant impact on outstandings in the months to come. Likewise, due to the age pyramid, considering net collection will no longer really be a significant indicator for this financial product. Indeed, the aim of life insurance is either to build up capital or to pass it on. In all cases, the life insurance contract is terminated. On the other hand, the payments are still as high. They even broke a new record, with 100 billion euros paid over the last 8 months!

Life insurance: negative net inflows in August 2023

In August, contributions in Life insurance stood at 8.3 billion euros and the net collection at −1.7 billion euros says France Assureurs. Contributions cross the symbolic threshold of 100 billion euros over 8 months for the first time, at 102.4 billion euros and net collection is positive at +1.7 billion euros.

They fell by −0.4 billion euros on unit-of-account (UA) supports but remained stable on euro supports. The share of UC contributions stands at 31% over the month.

In August, services stood at 10.0 billion euros, up +7% compared to August 2022. They increased mainly on UC supports (+0.6 billion euros) while they remain stable in euros. Since the start of the year, benefits have reached 100.7 billion euros, an increase of +14.9 billion euros, or +17%.. The increase concerns both support in euros (+10.9 billion euros) and support in CU (+4.0 billion euros).