Foreign players on the French insurance market

Magazine Issue:

Magazine date:

Jun 2021

The single European insurance market was established in 1994, enabling nearly 4 000 insurance companies, whose head office or branch is established in the European Economic Area (EEA), to operate throughout Europe and to appeal to the 450 million European consumers.

euro The main European directives adopted between 1973 and 1992 had contributed to the establishment of the "Freedom of Establishment" on the one hand, and the "Freedom to Provide Services" on the other.

Freedom of establishment: this measure guarantees European insurers the freedom to establish themselves in any country of the Union;

Active Freedom to Provide Services: this directive authorizes an insurer from the Union to take on risks located in the European Economic Area without being established in the country of the risk (active FPS);

The passive Freedom to Provide Services: this is the freedom for an insured to request the services of an insurer from the Union (passive FPS).

Participation of foreign companies in the contributions written in France (in %)

In % of contributions issued in France	2014	2015	2016	2017	2018	2019
All foreign life and non-life companies established in France
Branches	1,6	1,8	1,9	1,9	1,7	1,5
Subsidiaries	17,8	18	16,9	17,5	17,4	18,1
Overall	19,4	19,8	18,8	19,4	19,1	19,6
Foreign life and capitalization companies established in France
Branches	0,3	0,4	0,3	0,3	0,2	0,1
Subsidiaries	17,6	17,7	16,5	17,3	17,1	18,6
Overall	17,9	18,1	16,8	17,6	17,3	18,7
Foreign non-life companies established in France
Branches	4,6	5	5,7	5,4	5,1	4,6
Subsidiaries	18,2	18,6	17,9	17,9	17,9	18,4
Overall	22,8	23,6	23,6	23,3	23	23

Source : FFA

Read also | French insurance market structure [4]

Number of authorizations granted to insurance companies and branches of insurance companies from the EEA to operate in FPS* on French territory

Country of origin	2005	2010	2015	2019
United Kingdom	225	247	236	171
Ireland	117	135	131	107
Germany	76	90	118	111
Netherlands	60	66	70	62
Luxembourg	62	65	64	68
Other countries	512	690	718	582
Total	827	1046	1101	930

* FPS: Freedom to provide services
Source : ACPR

Number of authorizations granted to French insurance companies and branches of French insurance companies to operate in FPS* in the EEA

Country of operation	2010	2015	2019
Belgium	111	113	103
Italy	84	93	90
Germany	82	87	85
Spain	84	88	86
Luxembourg	92	85	86
Other countries	1290	1328	1288
Total	1743	1794	1738

* FPS: Freedom to provide services
Source : ACPR