All is not lost, though. In the short term, insurance companies should consider pulling a number of levers to enhance the value of their business. Longer term, the inevitable cut in pay-as-you-go pensions could lead to the emergence of a proper private pension market in France.
This report, cowritten with Exane BNP Paribas, discusses actions that insurers could take now to improve current profitability and to seize future growth opportunities. This report is available in French and English.