French Insurance federation formed

Two groups comprising of French mutual and traditional insurers have officially merged into the French Insurance Federation, Reuters reported recently.

Bernard Spitz, former president of the French Insurance Association was elected president of this organisation.

The newly created association covers 280 insurance companies, or 99 percent of the market, at a time when the industry is seeing a wave of consolidation and new regulations.

“Insurers will benefit from an association designed to meet diverse challenges affecting them, be that in regulation, in digital, in climate or society,” the FFA said in statement.