France Insurance Market Trends & 2017 Opportunities: Life, Non-Life and Reinsurance Industry Analysis
“The Iranian foreign minister discussed the heart of the matter … he spoke about taking a year to move forward, but I reminded him that his president had spoken about three to six months, and he said that he’d be pleased if things could be done more quickly,” French Foreign Minister Laurent Fabius told reporters in New York. “I told him that we had to move quickly and that’s one of the issues that needs to be dealt with, because does nuclear production continue during the negotiations?” Fabius added. Iranian Foreign Minister Mohammad Javad Zarif met with his counterparts from Britain, China, France, Germany, Russia and the United States at the United Nations to discuss the nuclear issue on Thursday. Zarif, promising to address concerns within a year, made a presentation about the next steps that Iran and the six powers might take to try to resolve the standoff, which has eluded a solution for a decade. French President Francois Hollande was the first Western leader to meet new Iranian President Hassan Rouhani during the annual meeting of the U.N. General Assembly this week, warning that Paris expected “concrete gestures” by Iran to show it will give up a military nuclear program. France has been a strong advocate of sanctions to pressure Iran over its nuclear program. The United States and its allies suspect Iran is seeking nuclear bomb-making capability despite Tehran’s insistence that its program has only peaceful aims. “We can’t find ourselves in a position where the discussions last a year and during this time the number of centrifuges increase, and to enter the technical details that the Arak reactor progresses, which would be a problem,” Fabius said. Hollande told the U.N. General Assembly he was encouraged by the words of the new Iranian government but he now wanted Tehran to follow through with concrete action.
The legal ruling has sparked outrage about the burden of business regulation at a time when France is barely out of recession, and consumers aren’t spending. The court told DIY chains Castorama and Leroy Merlin to shut 15 shops in the Paris region on Sundays, a traditional day of rest, following on a complaint by competitor Bricorama, which was itself ordered last year to keep its shutters down on that day. Legal ruling: French hardware retailer Castorama is one of two DIY chains instructed by a court not to open stores on a Sunday Leroy-Merlin has also been ordered to shut stores on the traditional day of rest Earlier this week, another court ordered perfume chain Sephora, part of the LVMH group, to shut its flagship Champs-Elysee shop in the heart of Paris after 9 pm after a complaint by a labour union. ‘I was shocked by the rulings,’ the head of the main employers’ union Pierre Gattaz told BFM TV on Friday. ‘The law must change so that it stops wreaking havoc. It’s unbearable: clients want to consume more and staff want to work more and they can’t. Manuals producer Haynes expands from cars and bikes into tractors as it acquires US firm Clymer and Intertec Consumer spending stagnated over the months of July and August after contracting in June, data showed on Friday. An unexpected sharp bounce in consumer spending in May had helped pulled the country out of a shallow recession in the second quarter, with analysts saying that Friday’s consumer data confirmed that the economy would likely not repeat the second quarter’s 0.5 percent rebound. Sunday has been enshrined as a day of rest in France since 1906, but numerous clauses exempt categories such as fishmongers, florists or the self-employed. Furniture and gardening stores can open, for example, but home improvement stores cannot. The CEO of Bricorama, who was made to close 24 shops in the Paris region last year, said he was satisfied by Thursday’s court ruling for the sake of fairness, but added that what he really wanted is to be allowed to open Sundays.
France sanctions Google for European privacy law violations
“A theory that such and such a person or such and such a people will never, ever be able to integrate just doesn’t stand up,” Montebourg said. “That’s what they said about the Italians, that’s what they said about the Spanish, it’s what they said about the Portuguese, and what they said about the Arabs. Decreeing in advance that it is impossible seems to me excessive and is worthy of being corrected.” Valls hit back: “I’ve got nothing to correct. My remarks only shock those who don’t know the subject.” He then repeated remarks that Amnesty International described as likely to “perpetuate stereotypes and encourage animosity” towards the 20,000 plus Roma currently living in France in makeshift camps. “The majority (of Roma) should be delivered back to the borders,” Valls said. “We are not here to welcome these people. I’d remind you of (former Socialist premier) Michel Rocard’s statement: It’s not France’s job to deal with the misery of the whole world.” Controversy over the issue is not new for Valls, a sharp-suited 51-year-old regarded as one of the stars of President Francois Hollande’s struggling administration. The commission has repeatedly questioned the legality of the government encouraging local councils to systematically dismantle illegal Roma camps and put the expelled residents on flights back to Bulgaria and Romania. The policy has also been criticized by the UN’s human rights arm. Roma organizations in France are threatening to bring a legal case against Valls for incitement to racial hatred and SOS Racisme, whose founder is now the Socialists’ party leader, said Wednesday his latest comments had “crossed a red line.” It is all water off a duck’s back to a ferociously ambitious, hugely energetic politician who appears to thrive on taking a stand against his own party’s stance. Polls repeatedly suggest Valls is among the most admired members of Hollande’s government with a cross-party appeal that has made him one of the early favourites to be the Left’s candidate in the 2017 presidential elections. Sceptics have also been quick to point out that Valls’s hardline on the Roma could play well with voters in municipal elections next year. “There are elections in the air in France,” observed Viviane Reding , the European Commissioner who has repeatedly taken France to task over the treatment of the Roma. “Every time they don’t want to talk about important things like the budget and debt, the Roma issue gets brought up.” Under pressure from the EU and at home, Valls agreed last year that Roma camps should not be cleared without alternative housing plans being put in place first. But that policy has rarely been applied, rights groups say, and Reding said France had made no attempt to access EU funds available to promote Roma integration.
Brussels rap for France as new Roma row erupts
Markets closed France Insurance Market Trends & 2017 Opportunities: Life, Non-Life and Reinsurance Industry Analysis Reinsurance, Life & Non-Life Insurance in France, Key Trends and Opportunities to 2017 market research reports are now available with RnRMarketResearch.com. Press Release: RnR Market Research 23 hours ago Print DALLAS, Sept. 27, 2013 /PRNewswire-iReach/ — The French life insurance segment accounted for 65.5% of the industry’s gross written premium in 2012. During the review period, turbulent financial and economic conditions adversely affected the segment’s performance. The segment posted a CAGR of 0.9%, with gross written premium expanding from EUR122.4 billion (US$180.0 billion) in 2008 to EUR127.0 billion (US$163.4 billion) in 2012. The segment’s penetration rate remained stable at 6.3% in 2012. Pension products were the leading French review-period life insurance product category. Pension policies accounted for 82.3% of the segment’s premiums in 2012. Bancassurance dominated the life insurance distribution network. The channel accounted for an average share of 60.6% of the total review-period life insurance commission paid. Complete report Life Insurance in France, Key Trends and Opportunities to 2017 is available at http://www.rnrmarketresearch.com/life-insurance-in-france-key-trends-and-opportunities-to-2017-market-report.html . (Photo: http://photos.prnewswire.com/prnh/20130927/MN87823 ) France has a large and well-developed domestic reinsurance segment, with the reinsurance premium valued at EUR16.4 billion (US$21.0 billion) in 2012. There were 19 reinsurers operating in France at the end of 2011. International reinsurers such as Munich Re, Swiss Re and Berkshire Hathaway dominated the segment. Despite slow growth in the insurance industry, the reinsurance segment increased at a review-period CAGR of 4.9%.