France Insurance Report Q2 2016
BMI View: France is home to one of the largest insurance markets globally, with both life and non-life insurance benefiting from strong rates of penetration and density. As a mature market, growth prospects are relatively limited. Competition is intense, particularly in key non-life lines such as motor insurance, which places significant downwards pressure on pricing and as a result some lines will struggle to achieve growth over the forecast period. The leading insurance providers are, however, proven innovators and the strengthening of the product offering in the market will allow some growth to be achieved. The gradual expected improvements in household income rates and unemployment rates will also stimulate some growth moving forward. Latest Updates And Forecasts
With growth prospects in the French market relatively muted, many of the leading French insurers are turning to overseas markets. AXA, for example, recently made a bid to CIMB Group Holdings for the distribution of AXA's non-life products across Asia via CIMB's branches.
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