Page 35 - Turkinsurance Digital Magazine

33

Insurance premiums in France (in millions of USD)

327.320
297.034 288.703 293.641
258.665 275.671 250.772

2010 2011 2012 2013 2014 2015 2016
Source: OECD
Source: C.I.A.
Insurance lines by market share of premium volume in France France, we see that premium per capita increased from 3,645
rank as follows: “Motor with 20.8 percent, multi risk home with USD in 2012 to 3,892 USD in 2013 and to 4,104 USD in 2014;
10.3 percent, business and agricultural insurance by 7.6 percent, but decreased down to 3,549 USD in 2015; and climbed back to
general liability by 3.6 percent, construction by 2.1 percent, as- 4,205 in 2016. In 2016, 64.3 percent of insurance premiums in
sistance by 2.1 percent, financial losses by 2 percent, natural France were written in the life segment; while 35.7 percent were
disasters by 1.6 percent, legal protection by 1.3 percent, credit written in the non-life segment.
surety by 1.1 percent, transport by 0.9 percent, and other by
46.6 percent. According to the annual study published by Insurance Europe,
the European (re)insurance federation; Europe led the global
According to the statistics announced by FFA, distribution chan- insurance market in 2015, ahead of North America and Asia.
nel structure of life, capitalization and composite companies in France was in 2nd place in the European market, behind the
French insurance market, bancassurance networks dominate the United Kingdom and ahead of Germany. The European insurance
market with a share of 65 percent; followed by salaried employ- sector is the largest in the world, accounting for 32 percent of
ees with 15 percent, brokers with 11 percent, general agents with global insurance premiums, ahead of North America (31 per-
6 percent, and other methods with 3 percent. cent) and Asia (30 percent). The United Kingdom, France and
Germany are the largest players on the European market.
In terms of non-life companies, the most dominant channel is
general agents with a market share of 34 percent, followed by The insurance sector is the European Union’s leading institu-
companies without intermediaries with 32 percent, brokers with tional investor. European insurers invested almost 9,800 billion
18 percent, bancassurance with 14 percent, salaried employees EUR in the economy in 2015 (an increase of 1.7 percent), i.e.
with 1 percent, and other methods with 1 percent. the equivalent of 61 percent of the EU’s GDP. The investments
made by British, French and German insurers account for 70
When we analyze the annual progress of premium per capita in percent of total investments by European life insurers.

Premiums by method of Premiums by method of distribution (in %)
distribution (in %)
Life, capitalisation and composite companies 65 11 15 Non-life companies 14 18 1 1
34
32

6
3
Salaried
Bancassurance General Brokers Salaried Other Bancassurance General agents Brokers employees Companies Other methods
without
networks
networks agents employees methods intermediaries
Source: FFA Source: FFA
Zeynep Tütüncü / zeynept@bestyayincilik.com