Life Insurance in France, Key Trends and Opportunities to 2016

Synopsis

The report provides in depth market analysis, information and insights into the French life insurance market, including:

• The French life insurance market’s growth prospects by life insurance categories and customer segments
• The various distribution channels in the French life insurance market
• The competitive landscape in the French life insurance market
• A description of the life reinsurance market in France

Summary

The French life insurance segment is the second largest in Europe in terms of gross written premium, after the UK. Despite the fact that life insurance is one of the preferred types of investments among French consumers, the segment recorded a poor performance during the review period. The recent sovereign debt crisis adversely affected the life insurance segment, as it created a poor investment environment in the country that made French consumers reluctant to make investments in life insurance products. French life insurance companies are finding it difficult to maintain profit margins due the increasing level of price competition in the segment. Life insurance companies are expected to undertake some restructuring initiatives in order to reduce their operational costs to sustain the price competition. To reduce the administrative costs, leading companies are relocating their back office operations to low-cost destinations.

Scope

This report provides a comprehensive analysis of the life insurance market in France:

• It provides historical values for the French life insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in the French life insurance market, along with market forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• It analyses the various distribution channels for insurance products in France
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in France for life insurance business
• It provides a detailed analysis of the reinsurance market in France and its growth prospects
• It profiles the top life insurance companies in France and outlines the key regulations affecting them

Reasons To Buy

• Make strategic business decisions using in depth historic and forecast market data related to the French life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the French life insurance market
• Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the French insurance market and its impact on companies and the market's future

Key Highlights

• Pension products were the leading life insurance product category in France during the review period. The majority of French consumers purchase life insurance policies for their retirement and long-term care. Similar to several other Western European countries, France is currently recording an aging population, a shrinking workforce and an increasing pension deficit.
• French life insurance companies are finding it difficult to maintain profit margins due to the increasing level of price competition in the segment. Life insurance companies are expected to undertake some restructuring initiatives in order to reduce their operational costs to sustain the price competition.
• The increasing penetration of distribution channels across the country is expected to drive the growth of the French life insurance segment over the forecast period. The expansion of distribution networks enables the insurance companies to reach out to a larger customer base and increase the volume of their life insurance policy sales.
• The ongoing debt crisis caused French consumers to seek low-cost life insurance products with higher coverage. As such, life insurance companies are now facing tough competition over prices.
• The French life insurance segment is expected to remain competitive over the forecast period due to the country’s favorable regulations that allow foreign companies to enter the French insurance industry by establishing a new subsidiary or acquiring an existing company in the region.