2 billion reflecting the economic crisis

The French insurance sector, who flirts in 2009 with the 200 billion euros of contributions, was that better withstand the crisis. "Insurance has proved last year that it was an important factor of economic stability, it will show in 2010 that it is one of the essential pillars of the out of the crisis," said Bernard Spitz, the President of the French Federation of insurance (FFSA) companies yesterday. In view of its role in the financing of the economy, the insurance will be a key element of the recovery, but a condition: that long savings - and therefore the insurance life - be "promoted". "It cannot speak without life long savings and could not speak without long savings crisis." "The conclusion is easy to make," says Bernard Spitz. The message to the Government is perfectly clear: budgetary arbitration court-termistes station, their side effects may be expensive...

Because life insurance represents more than half of 2.416 billion euros in 2009 - 51, - and even 56 included retirement long savings, reminds the FFSA, study support. And if she had momentarily lost its status as "preferred placement of the French" in 2008, penalized by the massive flows of liquidity to it found it in 2009, representing more than 80 of the flow of financial investments households. And this money does not sleep, is financing the economy. In 2009, the 1,600 billion euros of investments of the insurance companies were invested to 53 in companies (18 in shares, 33 in obligations), 2 in real estate, including $ 23 billion in commitments to SMEs.

For a tax change

The magic continues, no mystery, must encourage long savings. In this regard, the FFSA argues with constance to a tax change promoting the lengthening of the duration of the contracts. The idea is simple: Add a floor in the device, by exempting the income tax, as of July 1, 2010, the insurance life contracts of a duration exceeding or equal to 12 years. And to avoid any windfall effect, contracts having already reached the current threshold of 8 years (1), i.e. entered into before July 1 2002, will have to wait four years to benefit from the measure. "The measure is not in dispute: it is virtuous to the economy, easy to place, and even positive neutral for public accounts", argues Bernard Spitz. The FFSA has calculated that such a measure would cost EUR 340 million per year to the State between 2010 and 2013 included, but that it emerging 1.4 billion starting in 2014.

The absence of softening did not prevent the sector with growth in 2009, after two years of decline. Contributions increased by 9, to EUR 199.5 billion, drawn by person insurance ( 11, 154,3 billion) fall 2006 collection peak. The FFSA welcomes a very positive life insurance net collection of 51.1 billion (including the units of account), high rising ( 80) after the last quarter of 2008 air holes. The stock moved to 1.234 billion euros, an increase of 10, "as additional long savings to the service of the economy", insists the FFSA.

With contributions increased by 1, to EUR 45.2 billion, insurance of property and responsibilities display their level of the lower growth of the Decade. If the activity for individuals is an increase of 2, to EUR 25 billion - auto insurance decreased by 0.5 to 17.8 billion, but the comprehensive housing increased by 4.5, to 7.5 billion, insurance professionals have, stagnated at 20.2 billion, reflecting the economic crisis. The highlight is probably the very strong increase in the burden of claims ( 10, to EUR 35 billion).

If the storm Klaus, which will cost 1.7 billion, explains part, drift "affects all the branches", for multiple reasons, starting with a resumption of the increase in frequencies in auto insurance. "Real rupture", which will be certainly used to justify rate increases and may materialize NET way accounts 2009 underwriters.