Stocks and bonds are increasingly held as part of life insurance






Photo credit © Creative Commons / Ken Teegardin

The proportion of people holding shares in France remained stable in 2022, but these securities are held less and less in the context of a securities account or a PEA in favor of unit-linked life insurance (UA).

After ten years of decline, the rate of ownership of shares among the French has changed little for seven years, located around 7% (6.7% in 2022), reports a SoFia survey carried out by the Kantar Institute. The holding of shares in collective investments, excluding life insurance, remained stable, at a relatively low level (2.1%, against more than 7% in 2009).
Less than 10% of respondents said they own securities in 2022, compared to more than 18% in 2009.

All asset classes combined, the holding of collective investments is even today almost twice as low as in 2009 at 4.7% in 2022, compared to 9% in 2009.

The increase in life insurance transferable securities offsets the decline in collective investments in securities accounts and PEAs

At the same time, the share of transferable securities (direct equities and bonds, funds and mutual funds) has increased in the context of unit-linked life insurance, rising from 8% in 2009 to 13.4% in March 2022 , offsetting the contraction in their holding via PEAs and securities accounts.

In total, the proportion of savers holding transferable securities or unit-linked funds is now equivalent to what it was ten years ago, after a low in 2015 and 2016. “The trend is now to the increase, a consequence of the marketing of UC in life insurance”, notes the Autorité des marchés financiers in its last quarterly letter. The share of French people over the age of 15 holding securities or unit-linked funds stands at 19.2% in 2022, compared to 17.8% in March 2019…

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