Life Insurance: French Individuals Contributed a Record €15.4 billion in September

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Over the first nine months of 2026, contributions increase by 7%, or an additional 9.5 billion euros compared to the same period of 2025. This increase concerns funds in euros as well as units of account.

At the same time, benefits paid by insurers reached 106.6 billion euros, an increase of 3%. They include in particular redemptions made by savers and capital paid to beneficiaries after death: they are therefore not only voluntary withdrawals.

The difference between receipts and these services constitutes the net collection. Since January, it has reached 47.6 billion euros, or 6.7 billion more than a year earlier.

Outstanding contracts thus stood at 2,161 billion euros at the end of September, up 4.6% year-on-year. This change does not correspond to the return obtained by policyholders: it also reflects new payments, outflows and changes in the value of investments.

In September, payments on units of account (UC) increased by 7%, while those on euro supports remained stable. UC represent 37% of monthly contributions and 39% since the start of the year.

Their weight appears even greater in net collection: they concentrate 36.7 billion euros over nine months, compared to 10.9 billion for funds in euros, or more than three quarters of the total.

This distribution does not mean that all savers favor risk. Euro funds retain the majority of new payments. UCs allow you to invest in stocks, bonds or real estate, but their value fluctuates and their capital is not guaranteed. The guarantees of funds in euros depend on the conditions of the contract.

Retirement savings also continue to grow. In the third quarter, insurance PERs received 3.3 billion euros in contributions excluding transfers, an increase of 9%, for 180,600 new subscriptions. They bring together 8.5 million policyholders and 127.5 billion euros in outstandings at the end of September.

In an uncertain economic context, these payments illustrate the place that savings retain in the choices of the French. Building up a reserve, preparing for retirement or passing on capital remain priorities. Life insurance meets several of these objectives, even if the progression of units of account reminds us that putting money aside does not always mean removing it from market risks.

With a background in literature and languages, I like to combine rigorous analysis with a taste for ideas to decipher the major economic and (geo)political issues linked to cryptocurrencies. Since 2021, I have been writing for Journal du Coin where I focus on subjects such as , MNBC, the tokenization of RWA and more broadly the strategic mutations of Web3. A passionate reader, curious about the world and the power relationships that structure it, I strive to make these themes accessible to all, with particular attention to projects designed for the general public.

Machine-translated from French