AM Best is maintaining its outlook on France’s non-life insurance segment at negative.

In its new Best’s Market Segment Report, “Market Segment Outlook: France Non-Life Insurance”, AM Best says the segment’s top line growth is sensitive to the wider economic conditions, which remain volatile. In addition, French insurers experienced unprecedented natural catastrophe losses last year. While 2022 can be characterised as exceptional, there has been a marked increase in weather-related losses in recent years, which have translated into consistent technical losses for natural catastrophe insurance.

However, the report notes that the non-life segment benefits from a balanced and diversified offering with the largest line—motor—representing only around a quarter of premium. While the technical results of individual lines have shown significant volatility, the diversified profile has smoothed overall results.

To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=332783.

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.

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