Life insurance is once again appealing to savers, with more than 6 billion collected since the start of the year. The UA rate remains at a high level, 37% on average according to the FFA.
Some 1.6 billion euros were collected in life insurance in April, confirming “ the dynamics observed for several months In the sector, according to the French Insurance Federation (FFA). Over the four months of the year, it stands at 6.4 billion euros.
Contributions amounted to 13.1 billion euros in April, more than doubling compared to the same month of 2020 (6.5 billion euros), ” due to the virtual shutdown of distribution networks during the first confinement and a form of wait-and-see attitude on the part of savers “According to the FFA. In a more comparable way, contributions increased between April 2019 and April 2021 (+ 2%). In terms of benefits paid, in April 2021 (+ € 11.5 billion), the level was also higher than in April 2020 (+ € 8.7 billion).
Life insurance regains its pre-crisis rhythm
Net inflows in units of account (UA) amounted to 2.9 billion euros in April, bringing to 10.8 billion euros since the start of the year, ” unobserved levels since 2007 », Indicate the insurers. Their share in contributions thus stood at 37% in April, at a high level (34% in 2020) but stable since the start of the year. What ” confirms an increasingly favorable product mix for UC ».
A choice that pays off for the moment: since the start of the year, the performance of the UC has risen to 4.3%. This dynamic is also a “ significant support for the financing of the economy and the recovery “. And this insofar as the units of account are invested up to 83% in company assets (55% in shares, 20% in bonds and 8% in real estate), according to the FFA.
« Life insurance has regained, despite the third confinement, its pre-health crisis growth rate. There is no rebound, as households have not yet decided to replace the savings suffered and the precautionary savings made since March 2020, analysis Philippe Crevel, director of the Cercle de l’épargne. The improvement in the health situation and the hope of strong economic growth nevertheless make it possible to resume the path of long-term savings..»
At the end of April 2021, outstanding life insurance contracts reached 1,818 billion euros, up + 4.5% over one year.