Savings in life insurance in France continued to swell in May with net inflows of 1.9 billion euros, up compared to the same period last year, according to figures published Thursday by France Assureurs.
“
The positive momentum in life insurance continues
,” explained Franck Le Vallois, managing director of the professional federation, during a conference call.
Read alsoRising rates, a risk for life insurance
Net inflow is slightly lower than that recorded in April of this year, by 2.2 billion euros.
Contributions, or deposits, in life insurance in May amounted to 11.8 billion euros, for 9.9 billion in benefits or withdrawals.
Net inflows amounted to 12.4 billion euros since the start of the year, i.e. 2.8 billion euros more than last year over the same period, for total outstandings of 1.847 billion euros. euros.
The share of deposits in units of account (UA), riskier but potentially more profitable than funds in euros, "
has stabilized at around 40% since the start of the year, compared to 39% for the entire the year 2021
,” said Franck Le Vallois.
The market for retirement savings plans (PER), a product launched in 2019 as part of the Pacte law to encourage the French to supplement their retirement pensions, is also dynamic.
It recorded 937 million euros in payments to insurance companies in May 2022 for a total of 10.2 billion euros in payments since the start of 2022, a quarter of its current outstandings.
Life insurance has been a major success with savers since 2021, after suffering in 2020 when the French preferred to turn to safe haven investments such as the livret A.
But the regulated product has not said its last word.
By integrating the inflation rate for the month of June, the Livret A rate "
could be increased to 2% on August 1, 2022
", according to a calculation by the director of the Cercle de l'épargne Philippe Crevel, a more competitive rate than number of euro funds.
