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Eurofunds: provisions for profit sharing (PPB) now exceed €71 billion (+8.84% in 2021) – Savings Guide

PPBs share savers. Some are in favor of it and see in these provisions a guarantee of better returns in the coming years, others prefer to receive the entire profit sharing and thus be sure that their share will not be allocated to someone else. The fact is that these provisions (PPB) continue to accumulate over the years and savers have a hard time seeing their redistribution.

Increase in provisions? good or bad news?

This is not necessarily good news for savers, because everything that is set aside by insurance companies is equally that which does not end up in the products of the policyholders’ contracts. But the insurance companies try to play on published returns to smooth out any air pockets over the years. And of course they are increasingly cautious because the level of PPB (provisions for profit sharing) continues to grow. Another increase of +8.84% to reach 71.4 billion euros by the end of 2021. This starts at almost 3,000 euros per contract. When will this money finally be returned to savers?

Always more provisions year after year, +4.87% in 2021

At 65.6 billion euros at the end of 2020, the profit sharing provision (PPB) for life insurance increased by 5.8 billion euros in 2021, rising to 71.4 billion euros. Specifically, the average return level goes from 4.50% at the end of 2020 to 4.87% at the end of 2021, i.e. an increase of 37 øre.

TOP 5 PPBs

Not surprisingly, 5 life insurance companies alone account for 65% of the sector’s profit sharing (PPB).

TOP Insurance companies PPB in amount at the end of 2021 (billions of euros) PPB in %
1 CNP Assurances (La Banque Postale) 14.97 billion euros 6.10%
2 Predica (Credit Agricole / LCL) 13.11 billion euros 5.94%
3 ACM Vie SA and SAM (Crédit Mutuel Alliance Fédérale) 6.23 billion euros 7.34%
4 Cardiff Life (BNP Paribas) €6.34 billion 6.13%
5 Sogecap (Societe Generale) €5.14 billion 7.92%

(Source: Good Value for Money website specializing in personal insurance and financial investments)

Collectively, these 5 insurance companies, all of which are subsidiaries of banking groups, have €45.8 billion. in provisions for profit sharing (PPB), which represents a return reserve of 6.37% relating to them at the end of 2021. To illustrate, the return of this reserve would allow these insurers to subsidize the rates paid on their customers’ funds in euros by 0.80% per annum over a period of 8 years. It is both a lot and a little in the current context of a sharp rise in interest rates.

PPB of insurance companies

Eurofunds: Profit-sharing commission (PPB) by insurance company at the end of 2021
TOP Life insurance companies PPB as % of assets in euro funds PPB amount in millions of euros
🥇1 FRPS APICIL PENSION SAVINGS 21.30% €38 million
🥈2 FRATERNAL LIFE FUND (CFV) 8.66% €16 million
🥉3 MILLEI’S LIFE 8.47% 141 million euros
4 AFI ESCA 8.33% €87 million
5 ACM SAM LIV 8.26% €907 million
6 CCMA PROVISION 8.11% €292 million
7 SUCTION CAP 7.92% €5,135 million
8 MATMU’S LIFE 7.40% €89 million
9 GPM INSURANCE 7.22% €54 million
10 ACM VIE SA 7.21% €5,327 million
11 UNOFI INSURANCE 6.21% €341 million
12 FMG LIFE 6.20% €1,350 million
13 BNP PARIBAS CARDIF LIFE INSURANCE 6.13% €6,344 million
14 CNP INSURANCE 6.10% €14,970 million
15 THE SERMON 5.94% €13,111 million
16 GENERATION LIFE ALLIANCE. 5.90% 55 million euros
17 MAAF LIFE 5.66% 596 million euros
18 CHAR 5.42% €497 million
19 MAIF LIFE 5.33% 561 million euros
20 PREPARATION OF LIFE 5.21% €303 million
21 MUTAVIE 5.09% €1,225 million
22 MMA LIFE SA 5.07% €957 million
23 HSBC LIFE INSURANCE 4.97% €806 million
24 AREAS OF LIFE 4.91% 52 million euros
25 FRPS MALAKOFF HUMANIS EXTRA PENSION MALA 4.79% 59 million euros
26 SMA LIFE BTP 4.64% €253 million
27 BPCE LIFE 4.54% €2,447 million
28 SURPLUS 4.14% €1,348 million
29 MACSF PENSION SAVINGS 4.03% €925 million
30 ANTARIUS 4.00% €369 million
31 ALLIANZ LIFE 3.94% €1,481 million
32 LIFE INSURANCE 3.91% €16 million
33 CAPMA & CAPMI 3.85% €148 million
34 AG2R WORLD 3.73% €2,192 million
35 NINEFLIZE LIFE 3.59% €182 million
36 THE MUTUAL INSURANCE CONSERVATOR 3.43% €83 million
37 MUTUALIST FRANCE 3.41% €242 million
38 CAR LIFE 3.40% €1,073 million
39 ORDINARY LIFE 3.29% €2,281 million
40 MIF 3.17% €116 million
41 CAREFUL LIFE 3.01% €105 million
42 EMPIRE 2.77% €19 million
43 FOURTH MALAKOFF 2.65% €108 million
44 AGEAS FRANCE 2.60% €63 million
45 BEE PENSION SAVINGS 2.59% €559 million
46 SWISSLIFE INSURANCE AND HERITAGE 2.48% €437 million
47 SAF BTP LIFE 2.48% €89 million
48 ORADEA LIFE 2.38% €76 million
49 AUXIA MALAKOFF MEDERIC 2.36% 24 million euros
50 FRPS ALLIANZ PENSION 2.30% €267 million
51 AXA MUTUAL LIFE INSURANCE 2.23% €124 million
52 GROUPAMA GAN LIFE 2.16% €808 million
53 MONCEAU PENSION AND SAVINGS 1.99% €6 million
54 GENERAL PENSION FUND (CGP) 1.88% €140 million
55 FRPS BEE PROFESSIONAL PENSION 1.86% 64 million euros
56 AXA FRANCE LIFE 1.83% €1,564 million
57 APICIL SAVINGS 1.72% €82 million
58 SPIRICA 1.43% €80 million
59 MUTEX SA 1.00% €35 million
60 WORLD PARTNERS 0.70% €131 million
61 SAGEVIE 0.62% €1 million
62 OPTIMUM LIFE 0.60% €1 million
63 MADDER 0.50% €17 million
64 FRPS ARIAL CNP ASSURANCES AG2R LA MONDIALE 0.49% €63 million
65 FRPS AXA COMPANY PENSION 0.06% €5 million
List of PPBs by insurance company, data at the end of 2021. (Data source: Good Value for Money website)

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