Hollande Eyes Insurers’ EU1.38 Trillion to Boost Housing
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Didier Ridoret has a fix for France’s construction slump: prod Axa SA and other insurers to plough more of their 1.38 trillion euros ($1.86 trillion) in domestic life insurance policies into new housing.
The chairman of the French Building Federation says President Francois Hollande “should twist the arm of insurers so that they devote a part of their resources on mid-level housing.” Ridoret, who’s taking part in talks between the government, builders and insurers to rekindle housing, said in an interview that “all indicators are on red alert, from housing starts to renovation to non-residential” construction.