French insurance companies are working on reductions

Florence Last Man
France Assureurs has published a new white paper.

As the presidential election approaches, French guarantors are formulating five proposals for candidates to strengthen the role of life insurance in the economy. The federation proposes to index the amount of allowance, especially in the event of an infection.

As the presidential election approaches, French guarantors are developing five proposals for life insurance-themed candidates. Considered one of the French’s favorite investments, it has 38 million beneficiaries and an unpaid amount of € 1,876 million. This type of savings today plays three roles, characterized by savers, economic revival and sustainable growth.In this regard, the federation wants the development of life insurance. As close as possible to new economic and social conditions “.

Therefore, France Assureurs, in the first part, proposes to update certain parameters that have not changed over the decades. Although much debate has been held recently, the taxation of life insurance inheritance tax should continue to spark the debate. In this regard, the federation proposes to index the amount of allowances on transmission by increasing this amount from € 30,500 and € 152,500 to € 46,000 and € 204,000, respectively. Second, the federation proposes to push back the crucial era of life insurance in the face of continually increasing life expectancy for savers. Next, I propose to fix today’s 70 years in 75 years.

For retirement savings products, the white paper suggests raising the deductible payment limit for PER from 10% to 20% of professional income. Support business recovery “Can you read? The white paper also upholds the industry agreement signed on February 2nd and publishes a standard table that groups costs by category for each producer of PER and life insurance. I promise to promote it.

More transparency

At the same time, France Assureurs proposes to further the issue of information transparency and proposes a new PRIIP document. European regulations that are supposed to standardize pre-contract information for financial products are: As far as possible ” reply “ Goals for the complexity of the current regulatory system “, I will explain about the federation.” Today, it is imperative that the European Commission’s retail investment strategy does not result in increased complexity and density of consumer pre-contract information.In order to determine the content of the information, it is necessary to take into account the peculiarities of life insurance as a savings product. “.

Old continent regulation

Still, in the European scene, the white paper advocates a revision of the Solvency II framework by releasing excessive braking and reducing the variability of the current regulatory framework. The federation proposes to emphasize management actions that optimize risk profiles rather than short-term market volatility. It also proposes to extend the dynamic volatility correction currently used in internal models to the standard formula. Therefore, we want insurers to increase their ability to invest in companies in the long run and reduce their volatility.