The French non-life insurance market struggled with a series of headwinds, according to AM Best's latest market segment report. While the overall market remained stable, AM Best had maintained a Negative outlook for the sector due to persistent challenges such as modest premium growth, rising claims costs, and the evolving regulatory landscape.
The non-life sector faced relatively slow growth, with expectations to increase only modestly when adjusted for inflation. This slow expansion could be attributed to the broader economic climate, which had been marked by persistent inflationary pressures. Insurers found it difficult to generate significant returns due to the rising cost of claims and operational expenses.
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