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Life insurance: the withdrawals again exceeded largely the deposits in April

life insurance fell again in April, in full confinement, a vast movement of disaffection, the withdrawals exceeding the deposits for the second consecutive month to a level not seen in nearly ten years, announced on Tuesday that the federation of the sector.

read also : life Insurance : withdrawals of savings have exceeded 2.2 billion euros in march

"This exceptional period of confinement and uncertainty has translated this month by a collection of contributions to be less than the benefits paid by insurers", summarized in a press release, the French Federation of insurance (FFA).

last month, the withdrawals have exceeded the deposits to the tune of 2.1 billion euros, a level similar to march and who had not previously been seen since 2011, according to the French Federation of insurance (FFA).

With this new month of strong décollecte, life insurance falls into the red on the whole of the past year. For the time being, in 2020, the French have withdrawn € 1.9 billion more than they deposited on their contracts.

This massive movement obeys, however, to slightly different reasons that, in march, a period marked by the beginning of the containment put in place in the middle of the month to combat the spread of coronavirus.

At the time, the French had primarily withdrawn mass the deposited money on their life insurance contracts. By contrast, the withdrawals have not been very high in the April - € 8.5 billion - compared to the level observed each month for a year.

What are the deposits that have fallen to 6.4 billion euros, a level that is particularly low. "In April, as this had already been the case in march, the containment has restricted the commercial activity and the number of operations," said the FFA.

read more : credit Insurance: Bercy enhances its device support

These levels of spreads between deposits and withdrawals are unprecedented since 2011. At the time, already marked by strong uncertainty about the economic situation, the life insurance had been chained for five months of décollecte, sometimes of several billion euros.

The editorial team conseilleAssurance-life: the failings of the "stop loss"No comment

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