Magazine date:
Jul 2008 The results published by the French Federation of Insurance Companies (FSSA) revealed 0.9% slowdown of the sector's activities in 2007 at 195.4 billion EUR (306 billion USD) which is in clear decrease in comparison with the previous year marked by 11.3% progression.
Life insurance, which accounts for 77% of the total contributions, is the hardest-hit by the bad financial condition with underwriting cuts of 1.8% at 151.6 billion EUR (237 billion USD).
While motor insurance turnover remained stable, that of property insurance and third party liability is rising by 2.6% at 43.8 billion EUR (68.2 billion USD).
Internationally, however, the sector is reporting its best results with 28.3% increase.