PARIS (Reuters) – French insurers are in discussions to invest 1 billion euros ($1.09 billion) into funds dedicated to help small and mid-sized firms and health companies recover from the impact of the coronavirus epidemic, the chief executive of CNP Assurances (PA:) told Reuters on Friday.
Insurers have been under pressure from the French government to come up with a plan to support the economy, as most companies were left without insurance coverage for disruptions to business caused by the lockdown.
Life insurer CNP Assurances and French public-sector lender Caisse des Depots are leading the efforts to get the scheme up and running.
“During the discussions with la Caisse des Depots on the one side and with the insurers on the other, we had an idea to set up a joint investment programme,” Antoine Lissowski, chief executive of life insurer CNP Assurances, told Reuters in a phone interview.
Caisse des Depots will coordinate the…