Publié le In November 2025, life insurance demonstrated its resilience and its key role in financing the economy
Life insurance premiums amounted to €15.7 billion in November 2025, their highest level ever recorded for a month of November.
Benefits amounted to €10.9 billion, marking a very slight decline compared with November 2024.
At €4.8 billion, net inflows for the month came close to the all-time high recorded in November 2006 (€4.9 billion).
Life insurance premiums amounted to €15.7 billion in November 2025, the highest level recorded for a month of November, up 4% or €700 million year on year. This increase mainly applies to unit-linked products (+8%) and, to a lesser extent, euro-linked products (+2%). Since the beginning of the year, premiums have reached €176.0 billion, up €14.9 billion or 9% compared with the first eleven months of 2024. This growth applies to both unit-linked (+13%) and euro-linked policies (+7%). The share of unit-linked premiums accounted for 40% in November and 38% year-to-date, unchanged from the share recorded for the whole year of 2024.
Benefits amounted to €10.9 billion, marking a very slight decline compared with November 2024. This €0.1 billion decline affected only unit-linked products, while benefits on euro-linked products remained stable. Since the beginning of the year, benefits have dropped 5%, or €6.9 billion, standing at €126.5 billion. This decline mainly affects euro-linked policies (−€6.0 billion) and, to a lesser extent, unit-linked policies (−€0.9 billion).
Net inflows amounted to €4.8 billion in November 2025, an increase of €0.8 billion compared to November 2024. This includes +€3.4 billion in unit-linked policies and +€1.4 billion in euro-linked policies. Since the beginning of the year, it has reached €49.4 billion, up €21.8 billion compared to the same period last year. Net inflows cover both euro-linked (+€10.0 billion) and unit-linked policies (+€39.5 billion).
As of end-November 2025, the outstanding amount of life insurance amounted to €2,106 billion, representing a rise of 6.3% over one year.
Mr. Paul Esmein, Managing Director of France Assureurs: “Driven by higher premiums and positive net inflows in November 2025, life insurance once again demonstrates the resilience of its model and the enduring confidence of the French in this long-term savings product. The increase in outstanding amounts since the beginning of the year clearly underlines the key role played by life insurance in financing the economy. As of end-June 2025, 63% of life insurance assets were invested in corporate securities (25% in equities, 33% in bonds and 5% in corporate real estate), with a further 24% invested in sovereign bonds.”
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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