Insurance prices will rise ‘around inflation’ in 2024, says industry boss

by time news

2023-09-01 16:39:43

By Le Figaro with AFP

Posted yesterday at 3:34 PM, Updated yesterday at 4:39 PM

The managing director explains that the price increases “will revolve around inflation”. PhotosD / stock.adobe.com

According to Adrien Couret, managing director of the Aéma group, insurers are faced with a rise in costs greater than the consumer price index.

The French should expect price increases in their insurance in 2024 which “revolve around inflation“, Adrien Couret, general manager of the Aéma group, told AFP on Friday, while the government wants a new gesture of moderation in the profession.

This statement from the boss of the entity bringing together Macif, Aésio and Abeille illustrates the reluctance of the sector to make new commitments after a year of effort, according to an article published Thursday by Argus de l’assurance. “Honestly, the situation is very tough for insurers this year but we will reiterate, like last year, our call for the moderation of prices for everyday insurance“Bercy had indicated to the specialized media.

In September 2022, insurers committed to keeping rate increases below the level of inflation for 2022 and 2023.Our profession has kept its commitments“, but this one “is difficult to maintain over time“, argued Adrien Couret, referring to the bill for the June earthquake, estimated at 500 million euros, and that of the riots, which could approach one billion euros.

Rising costs

According to him, 2024 will therefore be marked by price increases in insurance which “revolve around inflation”, insurers being confronted with a rise in costs greater than the consumer price index. Asked by AFP, Franck Le Vallois, managing director of the France Assureurs federation, referred to the promise made a year ago, without committing to the future.

This commitment having been made for 2022 and 2023, it “is still relevantIn this new school year, he argued, without mentioning 2024. Insurers regularly remind us of having to deal with the multiplication of natural disasters, but also a very significant inflation in the cost of repairs, especially in the automobile.

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