France

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s France Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for France includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

Key Benefits

• Superior market insights
• Crucial compliance information
• Risk assessment and profitability

Information for France can be seen in:

France is the third largest country in Europe after Russia and Ukraine the sixth largest economy in the world. The French non-life insurance market is principally dominated by motor and property insurance business. In 2018 three important classes of business gave rise to combined ratios of 100% or more. In 2019 the non-life market in general began to harden with increased premium rates for property, latent defects construction and marine cargo business and the imposition of stricter underwriting criteria but it did not, however, (in 2019) impose higher than previous average premium rates in the highly competitive motor market, except in relation to some fleet risks with poor claims experience. This is the first time in 13 years that the French non-life market has shown such broadly generalised harder market trends.

At the end of 2018 the regulator was supervising 713 insurance firms of which 364 were non-life entities and 12 were reinsurers. Any insurer whose head office is located in any EU member state may operate in France under freedom of services provisions: FOS insurers had a 9% share of the total French life, non-life and PA/health insurance market in 2017.

A key feature of the life insurance market in France is the presence of three different types of organisation; insurers (both on a for-profit basis and mutuals); mutual organisations - which are particularly focused on PMI and provident institutions that provide death and disability covers. All three types of provider may tender for employee benefit contracts.