Market Size of France Motor Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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France Motor Insurance Market Analysis
The France Motor Insurance Market is expected to register a CAGR of greater than 4% during the forecast period.
The French motor insurance market is one of the most widely demanded insurance as people are keen to be secure and have a protective shield in case of a collision or other mishappenings. France Motor Insurance accounts for over 30% of the non-life insurance segment.
Motor insurance in France additionally offers financial protection against theft of the vehicle and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The rise in the number of accidents due to the increasing population in France, the implementation of stringent government regulation for adopting auto insurance, and the surge in automobile sales across France drive the growth of the France Motor Insurance Market.
Insurtechs, introduced to the market, are impacting the traditional insurance sector but increasing online purchases and easy access to insurance products. The increase in the purchase of electric vehicles is also growing motor insurance.
