Exceptional because of its scale, the Covid-19 has highlighted the limits of the private insurance system, which is unable to respond to a systemic crisis without a specific system.
In order to learn lessons and find the resources to effectively support businesses faced with such events in the future, the FFA, at the end of April and in cooperation with the French Ministry of the Economy and Finance, set up a workgroup to sketch ideas for a future scheme.
As committed earlier to the government, the FFA today presented the conclusions of its work on a new system for protecting businesses against the economic consequences of a major event like Covid-19.

Following the emergency measures announced last week, and those put in place by its members on an individual basis, this morning the FFA presented new solidarity measures to Mr Bruno Le Maire, Minister for the Economy and Finance.

The French Insurance Federation (FFA) and four trade unions – CFDT, CFE-CGC, CFTC and UNSA – have signed an innovative agreement on the recognition and development of trade union career paths in the insurance sector, with the aim of ensuring the conditions exist for the sustainable development of the presence and activities of trade unions within the industry.

Taking the opportunity of Climate Finance Day 2019, to be held on 29 November in Paris, French insurers and reinsurers are wholeheartedly renewing their commitment to fighting global warming. The third edition of their Baromètre ESG-climat (Environmental, social, governance and climate barometer), published today, shows that the sector made significant progress in responsible investment in 2018. In addition, in keeping with the commitment it made on 2 July 2019, the FFA is passing on new NGO recommendations for defining a coal strategy.

Florence Lustman has today taken up her position as President, a position to which she was unanimously elected by the French Insurance Federation’s General Meeting on 18 June this year.

At the occasion of a meeting with Bruno Le Maire, French Minister for the Economy and Finance, the main professional bodies and associations representing the Paris Financial Center (ASF-French Association of Financial Companies , AFG–French Asset Management Association, FBF-French Banking Federation, FFA-French Insurance Federation, France Invest- French association of private equity actors, Paris EUROPLACE and Finance for Tomorrow) announced today in a joint declaration new collective commitments to combat climate change and contribute to achieving the goal of net zero carbon by the year 2020.

The FFA’s three vice-chairs have decided to propose to the General Meeting to be held on 18 June that Florence Lustman, finance director at Banque Postale, be appointed president of the FFA, to take office on 1 October 2019.

They thank Bernard Spitz for the service he has given to the insurance industry for more than ten years and for creating the Federation. They have asked Bernard Spitz to continue in his role as chair of the FFA until 30 September 2019 to ensure continuity for projects under way in the industry. 

The French Insurance Federation is publishing the practical guide “Saving responsibly is possible, thanks to my life insurance!” to support individuals in making savings decisions and provide them with a clear understanding of responsible products.

The FFA publishes the results of the second edition of the risks barometer for the French insurance and reinsurance sector. Cyber risk remains at the top of the list, while the risk of social tension has grown significantly and is now the second most significant short-term risk.