Job losses on the rise in France: impact on the insurance sector

A study conducted by the GSC (Garantie Sociale du Chef d'Entreprise) association and Altares indicates that 25 296 French business owners have lost their jobs during the first half of 2023. This figure is 36.6% higher than that recorded for the same period in 2022.

The construction and retail sectors are still the most affected by this situation, with 5 713 and 5 614 unemployed managers respectively on 30 June 2023.

However, the sharpest increase in the number of job losses was seen in the finance and insurance sector (76.4%). This mainly concerns insurance brokers and asset managers.