Publié le At the end of January 2025, the outstanding amount of life insurance exceeded the €2 trillion threshold for the first time
Life insurance premiums rose by 10% in January 2025, reaching €17.3 billion, their highest level ever recorded.
Net inflows totalled €4.5 billion in January 2025, the highest level recorded for this month since 2010.
Insurance PERs (French pension savings plan) recorded a 39% increase in net inflows compared with January 2024, reaching €958 million (up €267 million year on year).
Premiums reach their highest level ever recorded
In January 2025, life insurance premiums reached a record high of €17.3 billion, marking an increase of 10%, or €1.5 billion, compared with January 2024. They increased sharply for euro-linked policies (+12%) and, to a lesser extent, for unit-linked policies (+6%).
Benefits stood at €12.8 billion, a decrease of €0.8 billion (−6%) compared with January 2024. This decrease is primarily driven by euro-linked policies (−€0.7 billion or −6%).
Net inflows amounted to €4.5 billion in January 2025, representing an increase of €2.3 billion year on year. This marks the highest level recorded for the month of January since 2010. Net inflows amounted to €5.2 billion for unit-linked policies, while euro-linked policies saw outflows of €0.6 billion.
At the end of January 2025, the outstanding amount of life insurance exceeded the €2 trillion threshold for the first time, reaching €2.020 billion, a 5.3% increase compared with January 2024.
January saw a sharp increase in net inflows to insurance PERs
In January 2025, the insurance PER contributions reached €1,331 million, a 40% increase compared to this same month last year. Net inflows for insurance PERs totalled €958 million, up 39%, or €267 million, compared with January 2024.
In January 2025, transfers from old pension savings policies to PERs involved 54,900 policyholders for a total of €1,614 million.
As of end-January 2025, insurance PERs had 7 million policyholders and an outstanding amount of €96.5 billion, 44% of which are invested in unit-linked policies.
Among new individual PER subscribers, 28% are under 40 years old1.
As of end-September 20242, 11.2 million people hold a PER totalling an outstanding amount of €118.9 billion.
Life insurance finances the productive economy and the government
By the end of September 2024, 63.2% of life insurance assets were invested in corporate securities: 23.1% in equities, 35.0% in bonds, and 5.1% in commercial real estate. Sovereign bonds represented 23.8% of life insurance investments. 82.7% of unit-linked assets were invested in corporate securities: 54.3% in equities, 22.6% in bonds, and 5.8% in real estate.
Mr. Paul Esmein, Managing Director of France Assureurs: “January 2025 is a month to remember. For the first time, the outstanding amount of life insurance exceeded the €2 trillion threshold. This outstanding amount plays a significant role in the French and European economic fabric, with two-thirds invested in corporate securities and almost a quarter in sovereign bonds. Through the premiums they pay on their life insurance contracts, French policyholders contribute substantially to supporting the economy and infrastructure of the country.”
1 Source: DRESS
2 Consolidated figures for all market players (insurers, welfare institutions, mutuals, and management companies) are reported with a delay of several months.
NB: Rounding a total or difference does not necessarily equal the sum or difference of the rounded components. This sometimes occur between net inflows on one hand and the difference between premiums and benefits on the other, when all three figures are rounded to billions of euros.
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Press Release – At the end of January 2025, the outstanding amount of life insurance exceeded the €2 trillion threshold for the first time (PDF)
