DALLAS, Sept. 27, 2013 /PRNewswire-iReach/ -- The French life insurance segment accounted for 65.5% of the industry's gross written premium in 2012. During the review period, turbulent financial and economic conditions adversely affected the segment's performance. The segment posted a CAGR of 0.9%, with gross written premium expanding from EUR122.4 billion (US$180.0 billion) in 2008 to EUR127.0 billion (US$163.4 billion) in 2012. The segment's penetration rate remained stable at 6.3% in 2012. Pension products were the leading French review-period life insurance product category. Pension policies accounted for 82.3% of the segment's premiums in 2012. Bancassurance dominated the life insurance distribution network. The channel accounted for an average share of 60.6% of the total review-period life insurance commission paid. Complete report Life Insurance in France, Key Trends and Opportunities to 2017 is available at http://www.rnrmarketresearch.com/life-insurance-in-france-key-trends-and-opportunities-to-2017-market-report.html .
France has a large and well-developed domestic reinsurance segment, with the reinsurance premium valued at EUR16.4 billion (US$21.0 billion) in 2012. There were 19 reinsurers operating in France at the end of 2011. International reinsurers such as Munich Re, Swiss Re and Berkshire Hathaway dominated the segment. Despite slow growth in the insurance industry, the reinsurance segment increased at a review-period CAGR of 4.9%. Complete report Reinsurance in France, Key Trends and Opportunities to 2017 is available at http://www.rnrmarketresearch.com/reinsurance-in-france-key-trends-and-opportunities-to-2017-market-report.html .
Non-life insurance accounted for 24.5% of the French insurance industry's written premium in 2012, making it the second segment in the industry after life insurance segments, which accounted for 65.5% of overall written premiums in 2012. The segment grew in written premium value from EUR43.7 billion (US$64.3 billion) in 2008 to EUR47.5 billion (US$61.1 billion) in 2012, at a review-period CAGR of 2.1%. Complete report Non-Life Insurance in France, Key Trends and Opportunities to 2017 is available at http://www.rnrmarketresearch.com/non-life-insurance-in-france-key-trends-and-opportunities-to-2017-market-report.html .
Companies profiled in these reports (profiled in different reports as per their market relevance) include: Scor Re, Munich Re, Swiss Re, Hannover Re¸ Lloyd's France¸ RGA France, CNP Assurances SA, Groupe Crédit Agricole Assurance, Axa France¸ BNP Paribas Cardif, Generali France SA, Societe Generale Insurance, Allianz France SA, Covéa Mutual Insurance Group, Groupama SA and Sferen (MACIF, MAIF and MATMUT).
Key highlights from France Reinsurance Market Report, available for purchase at http://www.rnrmarketresearch.com/contacts/purchase?rname=117355, includes:
- The majority of reinsurance revenues are generated from the non-life segment, as non-life insurers ceded an average of 23.7% of their written premium during the review period
- In terms of category, treaty reinsurance accounted for 93.9% of the reinsurance premiums in 2012
- Munich Re remained the leading company with a 15.0% share of the total reinsurance premiums in 2011, followed by Swiss Re with 10.1% and Berkshire Hathaway with 7.7%
- The occurrence of natural disasters intensified the dependency of insurance companies on reinsurers and is likely to increase the costs of renewal
Key highlights from the French Life Insurance Market Report, available for purchase at http://www.rnrmarketresearch.com/contacts/purchase?rname=117349, includes:
- The French life segment's industry share increased during the review period from 65.5% in 2008 to 65.7% in 2012
- Reform introduced in the Insurance Code of France by the Ministry of Economy and Finance will allow insurance companies to lend directly to non-listed companies, such as small and medium size enterprise (SME), which will have positive impact on diversification of investment income
- In order to diversify risk and attain faster growth, French insurers are going for mergers and acquisitions in overseas markets. French insurers are focusing of emerging markets such as Africa for growth and expansion of business
- France has one of the fastest-aging populations in the EU, which will create growth opportunities for the life segment over the forecast period
- France's life insurance segment is highly concentrated with the ten leading insurers accounting for 86.1% of the segment's total gross written premium in 2012
Key highlights for the Non-Life Insurance Market in France report, available for purchase at http://www.rnrmarketresearch.com/contacts/purchase?rname=117361, includes:
- Expansion in the gross written premiums of the French non-life segment is mainly attributed to increased rates for certain lines of business, especially personal lines such as individual motor and property insurance
- Given the high competition and pressure on margins in the domestic industry, French non-life insurers are looking to expand outside the country to diversify risk and attain faster growth
- Property insurance was the largest category in the non-life insurance segment during the review period, and accounted for 49.9% of the segment's written premiums in 2012
- Agencies accounted for the largest share of 34.5% of the industry's total commission in 2012
- The top nine companies together accounted for 92.7% of the total segment's written premiums in 2012
Explore more reports on the Insurance market at http://www.rnrmarketresearch.com/reports/business-financial-services/financial-services/insurance-financial-services .
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