The Fédération Française des Sociétés d’Assurances (FFSA) revealed, through its president Bernard Spitz, at the presentation of the annual results,that the French market turnover amounted to 199 billion EUR (242 billion USD) in 2014, up by 6% compared to 2013.
Life insurance pulls the sector with a growth of 7% of contributions to EUR 148 billion (180 billion USD) against EUR 51 billion (62 billion USD) in property and liability insurance (+ 1.5%).
In life insurance, the net inflows of premiums rose by 91% to EUR 21 billion (USD 25.5 billion). Thus,the sector continues its recovery since the reversal of the 2010s.
In non life insurance, the combined ratio remained stable at 100% despite observed increase in motor claims. The ratio of this branch decreased by 4 points to 107%.
The weight of climatic events remains among the concerns of the market. In 2014, natural catastrophes cost the insurance EUR 2.2 billion (USD 2.7 billion), much higher than the average of the last 20 years, which amounted to EUR 1.5 billion (USD 1.8 billion).
NB : Growth rates in EUR