A record month for life insurance …
Net inflows in life insurance in June 2021 were positive, at +1.4 billion euros, thus exceeding the threshold of one billion euros for the 6th consecutive month. Over the first half of 2021, cumulative net inflows amounted to + € 10.9 billion.
In June 2021, contributions reached a record level: 13.7 billion euros, against 9.9 billion euros in June 2020 and 12.1 billion euros in June 2019. The cumulative amount of contributions over the 6 first months of the year amounted to 77.1 billion euros (54.3 billion euros from January to June 2020 and 74.0 billion in the same months of 2019).
In addition, the amount of benefits paid in the month of June 2021 (12.3 billion euros) is also higher than that of June 2020 (10.3 billion) and that of June 2019 (10.1 billion ). The amount of benefits accrued since the start of the year reached 66.2 billion euros, up 8.3 billion euros compared to the same period of 2020, and 6.2 billion euros for the first six months of 2019.
At the end of June 2021, outstanding life insurance contracts stood at € 1,840 billion, up + 4.4% over one year.
… which confirms the evolution of the market towards a new balance between euro funds and units of account …
UC contributions amounted to 5.6 billion euros in June, representing 41% of life insurance contributions compared to 38% on average since the start of the year and 35% over the year. 2020.
Net inflows in UA amounted, in June 2021, to + € 3.4 billion.
In the first half of the year, units of account reached historic records with, cumulatively, 29.6 billion euros in contributions and net inflows of +19.3 billion euros.
This steady increase in UC confirms the desire of the French to diversify their savings: massively invested in the productive economy to the tune of 83% (57% in equities, 17% in corporate bonds and 9% in commercial real estate), UC now represent more than a quarter of life insurance outstandings.
… as well as the success of the Retirement Savings Plans
The PER market continued to develop in June 2021 with 82,000 additional policyholders (including 64,000 new policyholders and 18,000 from transferred contracts). In the first half of 2021, PER recorded 668,000 new policyholders (407,000 for new PER subscribed and 260,000 from transferred contracts).
In June 2021, 937 million euros were paid out of PER, including 454 million euros in contributions (+188% compared to the same month of 2020) and 483 million euros in transfers from other retirement savings contracts.
Cumulatively over the first half of 2021, the net inflows of PERs amounted to + 1.9 billion euros (compared to 3.0 billion euros for the whole of 2020).
At the end of June, PER counted nearly 1.9 million policyholders. Outstanding amounts to more than 21 billion euros. Half of the payments are made up of UA.
For Franck Le Vallois, Managing Director of the French Insurance Federation: “ The first part of the year marks an evolution in the life insurance market. Savers want to further diversify their life insurance to improve the expected return. This need contributes to the dynamic of collection in units of account and leads to a new balance with support in euros, which the strong development of PER has reinforced.. »
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