Best's Market Segment Report: AM Best Maintains Negative Outlook on France’s Non-Life Insurance Segment
May 22 2024 - 3:00AM
Business Wire
AM Best is maintaining its negative market segment
outlook on France’s non-life insurance segment.
In its new Best’s Market Segment Report, “Market Segment
Outlook: France Non-Life Insurance,” AM Best expects overall
non-life premium income in France to continue to grow in 2024, but
only modestly once adjusted for inflation. Top-line growth for the
segment is historically closely correlated to gross domestic
product growth and the French central bank, Banque de France, is
forecasting real GDP growth of only 0.8%.
The report also suggests that inflationary pressures will
continue to pose challenges for non-life insurers in 2024 by
pushing up claims costs. Insurers are expected to adjust their
premium rates to counterbalance the inflation-linked deterioration
in technical results. However, AM Best considers it unlikely that
these increases will be sufficient to fully restore profitability
due to high levels of competitive pressures.
To access a complimentary copy of this market segment report,
please visit
http://www3.ambest.com/bestweek/purchase.asp?record_code=343048.
AM Best is a global credit rating agency, news publisher and
data analytics provider specialising in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS
RESERVED.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240522513480/en/
James Kenfack Associate Financial Analyst +31
20 808 2272 james.kenfack@ambest.com
Morgane Hillebrandt Senior Financial Analyst
+31 20 808 3176 morgane.hillebrandt@ambest.com
Richard Banks Director, Industry Research – EMEA
+44 20 7397 0322 richard.banks@ambest.com
Edem Kuenyehia Director, Market Development &
Communications +44 20 7397 0280
edem.kuenyehia@ambest.com