Household expenditure on insurance in France showed a general upward trend from 2013 to 2023, increasing from 47.18 billion Euros in 2013 to 56.99 billion Euros in 2023. The highest year-on-year increase was observed in 2015 at 6.48%, and 2022 saw another significant increase at 7.12%. The year 2020 experienced a decline of 3.19%, reflecting potential impacts from the COVID-19 pandemic. The Compound Annual Growth Rate (CAGR) over the last five years stood at 1.84%, illustrating a steady rise.
Looking forward, the forecast from 2024 to 2028 predicts continued growth, with household expenditure on insurance expected to rise from 57.84 billion Euros to 61.8 billion Euros. The five-year CAGR is projected at 1.33%, showing a moderate but consistent increase in expenditure.
Future trends to watch for include:
- Economic and political stability in France could impact disposable income and insurance spending.
- Technological advancements in the insurance sector could streamline costs and influence expenditure patterns.
- Emerging risks such as cyber threats and climate change could drive demand for new insurance products.
