France: insurers undertake to contain the rise in premiums

French insurers promised, on Tuesday after a meeting with the Minister of the Economy, to contain the average increase in their prices at a level below inflation for 2022 and 2023.

“I think that we have reached the best possible agreement in a situation which is very tense for the world of insurance”, indicated, the Minister of Economy, Bruno Le Maire, during a press conference, to the outcome of a working meeting with the heads of the insurance and mutual insurance sectors.

Inflation reached 5.9% year on year in August. Insurers have made a concrete commitment that the inflation index for the cost of insurance, calculated by the National Institute of Statistics and Economic Studies (Insee), remains below the inflation index for 2022. and 2023, which does not exclude that certain contracts for certain customers progress more quickly, in particular “to take into account the behavior of each individual”, specified the minister.

For her part, the president of France Assureurs, the sector federation, Florence Lustman indicated that the sector is experiencing an exceptional year in terms of climate claims, with already 5.2 billion euros recorded for the period January-August against 3.5 billion euros per year on average since 2017, stressing that the federation shares the minister’s ambition which is to help fight for purchasing power.

Summoned last Tuesday by the Ministry of the Economy, the bankers had, for their part, undertaken not to increase their prices by more than 2% next year and to go to one euro per month, instead of three euros. , their offer dedicated to vulnerable audiences, a gesture however coldly received by consumer associations.

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