The Gross Value Added (GVA) for the Insurance, Reinsurance, and Pension Funding sector in France fluctuated significantly between 2013 and 2023, peaking at 13.65 billion Euros in 2018 and hitting a low of 8.68 billion Euros in 2020. By 2023, the GVA reached 11.22 billion Euros, showing a 4.14% year-on-year increase. Over the past two years, the sector exhibited a variable trend with a modest rise. The 5-year compound annual growth rate (CAGR) up to 2023 was -3.84%, indicating a contraction.
From 2024 onwards, forecasts predict a steady growth, with a CAGR of 1.18% projected over the next five years, leading to a GVA of 12.09 billion Euros by 2028. This reflects a 6.04% growth rate.
Future trends to watch for include:
- Technological advancements and digital transformation in the industry.
- Regulatory changes that may impact market dynamics.
- Economic recovery post-pandemic and its effect on market stability.
- Increasing demand for retirement and pension planning services.
