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France Insurance Market Intelligence: 2011 Edition
Koncept Analytics, Jan 2011, Pages: 22
The French insurance sector is one of the crucial sectors of the economy as leading institutional investors and the amount of their investment accounts for substantial percentage of the country’s GDP. The French insurers have made significant contribution in stabilizing the economic system during the financial crisis.
Despite the economic crisis and tough market conditions, performance of life and non-life segments in insurance sector improved in 2009. However, the growth pattern for both the segments was in complete contrast with life insurance business growing intensively due to increased demand and non-life segment facing a slow down and henceforth a modest expansion. The profitability deteriorated for non-life insurers as the violent weather events severely impacted the country in 2009 and escalated losses with higher claim settlements in the year.
With the existing slow recovery of economy and improvements in financial market, insurance will continue to be a preferred investment option in France. Moreover, the insurance sector in France is expected to maintain consistent growth as demand for insurance products will grow in the near future, especially demand for life insurance products.
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