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Minimum wages are increasing in Insurance

On 3 June 2021, the French Insurance Federation (FFA) and three trade unions - CFDT, CFE-CGC and UNSA - concluded three agreements on minimum wages for the collective bargaining agreements of insurance companies for the year 2021.

Thus, the increases from 1 January 2021 for minimum wages in the sector are:

  • 1% for category 1 and 2 administrative staff, and level-I sales staff (formerly basic wage-earning producers),
  • + 0.6% for category 3 to 5 administrative staff, category 5 inspectors and level-II sales staff (formerly intermediate pay scale),
  • + 0.4% for category 6 and 7 administrative staff ,and category 6 and 7 inspectors

In addition, as an extension to the industry agreement on gender diversity and professional equality between women and men signed at the end of 2020, these three texts reiterate that employers are required to ensure equal pay for equal work or work of equal value between women and men.

Florence Lustman, President of the French Insurance Federation, emphasises that “in 2021, as in previous years, the social partners agreed, by a vast majority, to the increase of industry minimum wages. This annual sign off is proof of the maturity and quality of the social dialogue in the insurance industry.”