The idea that insurance float is an endless source of capital ignores the core of the story: it is money in transit, not a celestial windfall. Every euro of collected premium is a commitment, a contingent liability waiting to be claimed, not a resource at the insurer's disposal to use as it pleases. Thinking of these funds as a 'perpetual and low-cost resource' forgets the constant tension involved in claims management; it is like ignoring that the dam's water must one day feed the river. In France, the ACPR ensures that each insurer maintains robust prudential reserves, making the idea of 'free' capital a fiction in the face of regulatory oversight.