You have a life insurance policy. Due to lack of time or financial knowledge, you have chosen to opt for pilot management. How much did this choice bring you in 2023?

The 2023 performance of Euro life insurance funds is no longer a secret. In fact, from January onwards, banks, insurers and brokers revealed their rates. A good year for life insurance since the average performance is 2.6% according to a report from the ACPR, the policeman of banks and insurers. Some euro funds even exceed 3% of the Livret, such as Garance life insurance (3.5%), Bourso Vie (3.10%), BoursoBank or even La France Mutualiste mutual insurance (3.7%). %).

Performances that only concern the euro fund. However, like many savers, you may be diversifying your investments in units of account (UC) in order to generate more returns. But with little or no financial knowledge, you have opted for management under mandate, also called pilot management.

Pilot management therefore consists of delegating a professional distribution and arbitration between the different supports of a life insurance contract. These are portfolio management companies (Rothschild Gestion, Lazard Frres Gestion, Oddo BHF AM, Carmignac, La Financire de l'Echiquier, etc.) which oversee the management and indicate to your insurer in which funds it must invest.

Pilot management can pay off big. But its performance depends in particular on risk taking and of the distribution carried out by the manager. From one year to the next, everything can change. And this is also what happened between 2022 and 2023. Let's go back in time to 2022: the Paris Stock Exchange had fallen by -9% over 12 months and practically all life insurance contracts bearing a risk share served negative returns. And this, whatever the profile: from the most cautious to the most offensive, the observation is the same.

Good news, 2023 was a much better year for the financial markets. Result, the flagship index of the Paris Stock Exchange, the CAC 40, ended the year +16.52%, its third best performance over the last ten years. What impact did this increase have on the performance of management under mandate? It’s simple, the returns are new positive and some even erase the very bad year 2022.

Life insurance: the results (from worst to least worst) of the dark year of pilot management

The performance of online banks

Pilot management has become widely democratized and is now accessible to all budgets. Some contracts only require an entry ticket of a few hundred euros. the image of the Fortuneo Vie contract whose entry ticket for management under mandate amounts to 500 euros or even 300 euros for the Bourso Vie contract of the famous online bank BoursoBank.

Pilot management 2023 – the most prudent or defensive mandates
Online banksCautious profilesProfile name
Boursorama Life5.9%Defensive
8.6%Sycamore AM (defensive)
6.13%Ex ING Vie (Rothschild&Co)
Fortuneo Life4.05%Modere
Monabanq Life Premium4.46%Modr profile

Profiles providing for an allocation invested mainly (more than 50%) in the fund in euros or money market and bond funds are classified as prudent.

Source: declaration of establishments, in April 2024.

Pilot management 2023 – mandates presented as balanced
Online banksBalanced profilesProfile name
Boursorama Life7.79%balance
10%Sycamore AM (balance)
7.89%Ex ING Vie (Rothschild&Co)
Fortuneo Life8.70%Balance
Monabanq Life Premium9.41%Sustainable Investment Balance

The balanced category includes profiles presented as such by distributors and whose allocation to the fund in euros and bonds is around 30% to 50%.

Source: declaration of establishments, in April 2024.

Pilot management 2023 – the riskiest mandates
Online banksDynamic profilesProfile name
Boursorama Life8.66%Reactive
9.44%Dynamic
8.79%Offensive
11.30%Sycamore AM (dynamic)
9.22%Ex ING Vie (Rothschild&Co) – Dynamic
12.34%Ex ING Vie (Rothschild&Co) – Offensive
Fortuneo Life10.56%Dynamic
Monabanq Life Premium14.10%Dynamic Sustainable Investment

When the proportion of low volatility or guaranteed supports falls below 30%, the profile is systematically categorized as risky.

Source: declaration of establishments, in April 2024.

The best life insurance contracts with reduced costs

Are brokers and fintechs doing even better?

Online banks are not the only ones showing good performance over the past year. The returns on pilot management of brokers and other fintechs skyrocketed in 2023, after a disastrous 2022.

Pilot management 2023 – the most prudent mandates
Web broker contractsCautious profilesProfile name
Altaprofits Life3.36%Risk 1
4.12%Risk 2
4.79%Risk 3
Linxea Avenir 24.38%Defensive
Linxea Life4.94%Defensive
Linxea Spirit 24.61%Defensive
Linxea Zen3.73%Defensive
M Life Allowance Strategy
(Best Placement Rates)
4.41%Careful
Direct-investment Essential4.7%Cautious 1
4.8%Cautious 2
5.1%Cautious 3
Direct Investment Life2.5%Cautious 1
2.9%Cautious 2
3.9%Cautious 3

Source: declaration of establishments, in March 2023.

Pilot management 2023 – mandates presented as balanced
Web broker contractsBalanced profilesProfile name
Altaprofits Life5.49%Risk 4
6.27%Risk 5
Digital Life Prime
(Altaprofits)
10.30%Balance
Digital Life Prime
(Altaprofits)
3.98%Heritage
Linxea Avenir 27.05%Balance
Linxea Life7.64%Balance
Linxea Spirit 27.74%Balance
Linxea Zen7.18%Balance
M Life Allowance Strategy
(Best Placement Rates)
6.27%Balance
Direct-investment Essential6.5%Balance 1
6.8%Balance 2
7.4%Balance 3
Direct Investment Life4.2%Balance 1
4.9%Balance 2
5%Balance 3

Source: declaration of establishments, in March 2023.

Pilot management 2023 – the riskiest mandates
Web broker contractsDynamic profilesProfile name
Altaprofits Life4.05%Carte blanche
6.86%Risk 6
7.60%Risk 7
8.30%Risk 8
8.91%Risk 9
Digital Life Prime
(Altaprofits)
4.29%Carte blanche
13.17%Dynamic
Linxea Avenir 29.53%Dynamic
11.52%Aggressive
Linxea Life10.04%Dynamic
11.97%Aggressive
Linxea Spirit 210.02%Dynamic
12.13%Aggressive
Linxea Zen6.98%Dynamic
11.52%Aggressive
M Life Allowance Strategy
(Best Placement Rates)
7.93%Dynamic
12.36%Offensive
Direct-investment Essential9.4%Dynamic 1
10%Dynamic 2
11.2%Offensive
Direct Investment Life5.2%Dynamic 1
5.4%Dynamic 2
6.3%Offensive
Titles@Life
(Altaprofits)
6.59%Private Management
4.18%Carte blanche

Source: declaration of establishments, in March 2023.

And here are the 2023 performances of fintechs, new players in the life insurance market:

Pilot management 2023 – Fintechs, the most prudent mandates
Fintech contractsCautious profilesProfile name
Goodvest6.16%Cautious profiles
My Little Investment *2.66%Voluntary
5.53%Energetic
Nalo Heritage **6.20%25% shares, standard
6.30%25% shares, co-responsible
Ramify7.99%Cautious (3/10)
Yomoni Life5.2%P2
6.1%P3
WeSave Heritage7.74%Profile 1
7.06%P2

* Mon Petit Placement does not offer true pilot management but advisory or co-pilot management.

** Nalo is a special case: the fintech does not offer a typical management profile, only tailor-made, but communicates typical performances in order to be able to be compared to other managers.

Source: declaration of establishments, in April 2024.

Pilot management 2023 – Fintechs, balanced mandates
Fintech contractsBalanced profilesProfile name
Goodvest8.79%Balanced profiles
My Little Investment14.01%Ambitious
Nalo Heritage7.8%50% shares, standard
6.8%50% shares, co-responsible
Ramify11.28%Balance (5/10)
Yomoni Life8%P4
9.8%P5
11.7%P6
WeSave Heritage7.67%P3
8.35%P4
8.89%P5
Pilot management 2023 – Fintechs, the riskiest mandates
Fintech contractsDynamic profilesProfile name
Goodvest12.54%Risk profiles
My Little Investment12.6%Fearless
Nalo Heritage8.9%75% shares, standard
6.3%75% shares, co-responsible
Ramify17.51%Offensive (9/10)
Yomoni Life13.1%P7
14.4%P8
15.8%P9
18.6%P10
WeSave Heritage12.21%P6 (offensive 1)
13.68%P7 (offensive 2)
15.28%P8 (offensive 3)
16.24%P9 (aggressive 1)
18.24%P10 (aggressive 2)

Certain players, absent from this comparison, were contacted by MoneyVox but did not communicate their 2023 performances.

Life insurance: Yomoni’s performance soars in 2023

Pilot management, a long-term option

The pilot management of life insurance is a long term bet. Performance can greatly fluctuate from one year to the next. The proof is this year. for example, Monabanq Vie Premium which posted a performance of -14.24% in 2022 on the dynamic profile, +14.44 in 2021 and which rises to +14.10% in 2023. Boursorama, dynamic profile led by Edmond de Rothschild AM: -17.5% in 2022, +9.44% in 2023 and +41.7% over 10 years. Another example with Meilleurtaux Allocation Vie: -10.34% in 2022 compared to +7.93% for the current year.

each management profile is also associated a rating of 1 7, a risk indicator, the SRRI. The higher this is, the more the management company will bet on volatile funds high expectation of earnings.

Before choosing your risk profile, ask yourself two questions: how much can you lose at most in the event of a market fall and what is your investment horizon? Then compare the contracts, their pass returns but also associated costs to the choice of management under mandate. Do not hesitate to contact your advisor to discuss it.

Life insurance: prudent or dynamic management? Here are 5 tips to help you decide

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