Florence Lustman will serve a second term. The president of France Assureurs (formerly the French Insurance Federation) since October 1, 2019 was re-elected on Thursday for a three-year term at the organization’s general meeting. She was elected unanimously by the 247 members of the professional association.
Jean-Laurent Granier, Thierry Martel and Philippe Perret, vice-presidents of the federation and respectively CEO of Generali France, managing director of Groupama and managing director of Société Générale Assurances, had jointly proposed his re-election. They represent the three families of France Assureurs – the capitalist insurers, the mutualists and the bank-insurers -, who have sometimes had trouble getting along for three years, as during the management of the consequences of the health crisis. Different interests clashed, fueling criticism against the federation.
In addition to managing the health crisis, Florence Lustman, who took over from Bernard Spitz in 2019, has also begun work to transform the federation. A job symbolized by the change of name, the creation of a general management in 2020, entrusted to Franck Le Vallois from Allianz France, and the publication of several white papers to make the voice of insurers heard during the electoral period. For her new mandate, she intends “to show even more to all audiences in all territories that insurance protects all of society, that it finances the economy and that it employs” and in particular emphasizes on “prevention of claims, acculturation to risks, financial education or even the professional attractiveness of the sector”.
This new mandate promises to be no less studious with numerous projects for insurers faced with the rise in systemic risks. After the reform of the natural disaster compensation scheme, complicated discussions are currently taking place on the reform of crop insurance and developments are being considered for cyber insurance. The supervisor also continues to focus on the transparency of life insurance costs and has launched work with the place on the costs of the contract and the costs of the units of account underlying the contract. At European level, the revision of the Solvency 2 directive, which should be completed in 2023, is being closely monitored, as are climate requirements more generally.
Already, the insurers are on deck: a meeting is taking place this Thursday with the Minister of the Economy Bruno Le Maire on the question of insurance costs in a context of inflation which weighs on the purchasing power of the French . But insurers should also seek to impose the solutions they offer in the face of these challenges, such as the abolition of the green sticker which attests to the insurance of a vehicle, or a new responsible complementary health contract.