2009 ends on a high for insurance companies
The insurance sector enjoyed a remarkable recovery in the fourth quarter with insurance premiums rising by 170%, according to figures released by the Commissariat aux Assurances.
Premiums grew by 52% over the year buoyed by strong growth in the life assurance sector, while the property & casualty (non-life) sector fell back slightly.
Insurance companies coped well with the turmoil in 2008 and went on to perform excellently in 2009.
In the life sector, all branches have benefitted from the recovery. Life assurance companies saw their profits rise by 287%, while those of the non-life sector rose by 98%.
Website of the Commissariat aux Assurances