The French shun savings products they preferred. A booklet after earlier this week, it's life insurance to take stock bleak for the month of October. The French Federation of Insurance Companies (FFSA) has published figures from the Sunday collection. Last month it dropped from 16% to 9.1 billion euros. The amount of contributions collected in the first 10 months of 2011 amounted to 107 billion euros, down 12% over the same period of the year.

Worse, the agency confirmed that the withdrawals were higher than inflows. In October, the balance is negative to the tune of 1.4 billion euros. It is, indeed, a little less bad than a month earlier. In September, withdrawals have exceeded payments of more than 1.8 billion euros.But above all it confirms that life insurance through a bad patch with unprecedented for the first time two consecutive months of negative collection cash advance america.

Questioned by AFP, the FFSA wants to be reassuring. "Let us not forget that these are data points. If you look from the beginning of the vision is very different, "cautions Bernard Spitz, President of the FFSA, underlining that the payments exceed 17.7 billion euros withdrawals in the first ten months of 2011 . A figure that compared to last year's data with the same period, however, shows a precipitous drop of 63%, the statement of the FFSA.

Pensions of baby boomers

These results reflect a combination never seen before, the structural and cyclical factors unfavorable. Life insurance suffers from the retirement of baby boomers. These offset the drop in income by drawing on their life insurance.

• Xynthia cost at least $ 1.2 billion to insurers
• Two Japanese subsidiaries of AIG sold to Prudential Financial
• Axa found an ally in the Chinese market
• 2010, disappointing year for investments
• Ameli.fr wants to stay closer to the insured