from ACM
GACM - Press release on life insurance yields in 2023
Strasbourg, January 15, 2024
Life insurance yields in 2023
Crédit Mutuel serving its policyholders and savers:
With an average yield of 2.8% on its euro funds (+0.5 pt vs. 2022) and profit-sharing reserves amongst the highest on the market, Assurances du Crédit Mutuel is a dynamic key player in savings and retirement insurance.
By increasing the rate offered on its euro funds across all of its life insurance and individual retirement policies by 0.5 percentage point, after a 1 percentage point increase in 2022, Assurances du Crédit Mutuel proves its ability to support its policyholders in the long run.
Hence, the average rate offered in respect of 2023 was 2.8%[1], including payment bonuses.
Thanks to the payment bonuses[2], policyholders who invested at least 25% or at least 50% on unitlinked funds benefited from an additional yield of 0.25% and 0.50% respectively. Thus, they benefited from rates close to or even higher than 3%. For example, the 2023 return on the “Essentiel” variant of the life insurance product Plan Assurance Vie (PAV)[3] was 2.85% for policies that were at least 25% invested in unit-linked funds, while the return on the “Privilège” variant and wealth management contracts with more than 50% invested in unit-linked funds was 3.25%.
The return on the individual retirement savings plan of Assurances du Crédit Mutuel, PER Assurance Retraite[4], came between 2.75% (excl. payment bonus) and 3.25% (incl. payment bonus2).
Those increases were possible thanks to the financial solidity of Assurances du Crédit Mutuel, which maintains high profit-sharing reserves at €5.5 billion, i.e. 6.9 % of outstandings[5]. These reserves will be used continuously to keep on offering attractive returns.
As the fifth largest life insurer on the French market[6], Assurances du Crédit Mutuel manages 4.1 million policies in France on behalf of 3 million customers, and had total outstandings of €97 billion[7] at the end of December 2023[8].
Press contacts
Assurances du Crédit Mutuel : Mathieu Girème – +33 (0)3 88 13 23 23 - mathieu.gireme@acm.fr
Crédit Mutuel Alliance Fédérale : Aziz Ridouan - +33 (0)6 01 10 31 69 - aziz.ridouan@creditmutuel.fr
Corporate communication department : +33 (0)3 88 14 84 00 - com-alliancefederale@creditmutuel.fr About Assurances du Crédit Mutuel
Since 1971, Assurances du Crédit Mutuel has imagined, designed and guided the offers and services that contribute to the development of the insurance business of Crédit Mutuel Alliance Fédérale, the inventor of the concept of bancassurance.
Active in the property and casualty insurance, health, protection and creditor insurance, and life insurance markets, Assurances du Crédit Mutuel offers innovative solutions for its 13 million policyholders (individuals, professionals, companies and associations) nationwide, through the participating Crédit Mutuel federations and CIC networks.
Further information is available at acm.fr
About Crédit Mutuel Alliance Fédérale
One of France’s leading bankinsurers, with more than 77,000 employees serving more than 31 million customers, Crédit Mutuel Alliance Fédérale’s 4,500 branches offer a diversified range of services to private individuals, local professionals and companies of all sizes.
Crédit Mutuel Alliance Fédérale is made up of the following Crédit Mutuel federations: Centre Est Europe
(Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille).
Crédit Mutuel Alliance Fédérale also includes Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), Targobank in Germany, Cofidis, Beobank in Belgium, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique, Banque de Luxembourg and Homiris.
Find more information atwww.creditmutuelalliancefederale.fr/en
[1] 1 All of the rates indicated are net of management fees and before social security deductions.
[2] All of the life insurance, accumulation and individual multi-asset retirement savings policies of ACM benefited again in 2023 from a payment bonus on the euro funds based on the proportion of the contract invested in unit-linked funds as at 12/31/2023. The additional return on the euro funds awarded in respect of 2023 was therefore:
+ 0.25% for contracts that were at least 25% invested in unit-linked funds as at 12/31/2023; + 0.50% for contracts that were at least 50% invested in unit-linked funds as at 12/31/2023.
[3] Multi-asset, group life insurance policy with optional subscription
[4] Individual retirement savings plan subscribed in the context of a group insurance policy with optional subscription by Association de Retraite Populaire Individuelle (ARPI), a non-profit association registered in the Registre des Associations volume 82 Folio n°195 of Strasbourg District Court – Headquarters: 4 rue Frédéric-Guillaume Raiffeisen 67906 Strasbourg Cedex 9
[5] Ratio of profit-sharing reserves /mathematical provisions in euros at end-2023
[6] In terms of outstandings, source: “Classement assurance vie 2023 : les principales tendances” (2023 life assurance rankings: main trends), Argus de l’Assurance, April 18, 2023
[7] Mathematical provisions and profit sharing in respect of 2023, excluding profit-sharing reserves
[8] Unaudited data