Strong growth of bancassurance in France

Facts and Figures, a French strategy and management consulting firm specializing in insurance, has recently published its annual barometer on property and casualty insurance.

Banks continue growing on this market which is estimated at 55 billion EUR (60.87 billion USD). In 2018, they accounted for 26% of the homeowner's insurance market and 15% of the motor one. Despite the lingering low interest rates, the non-life insurance turnover of Crédit Agricole, Crédit Mutuel and Société Générale rose by 6%.

This situation has affected traditional insurers whose rates are considered high. Between 2012 and 2018, the latter lost 500 000 motor insurance contracts and 800 000 homeowner's policies.