French Transaction Tax to Hurt Savers, Kessler Says in Echos

A tax on financial transactions would mean lower returns for French holders of life insurance contracts, as well as other savings and insurance products, Scor SE (SCR) Chief Executive Officer Denis Kessler wrote in Les Echos.

The tax would drive up the cost of the numerous financial transactions that are required to ensure the returns such savings plans often provide, Kessler wrote.

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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