In this conversation between Catherine Hock, Senior Vice President, International Relations, ICMIF, and Stéphane Tisserand, Secretary General, MAIF Group (France), Stéphane shares insights from his career and current role at MAIF Group, a major French mutual insurance company. The discussion covers his journey from adviser in government and European institutions to joining MAIF Group, where he discovered the mutualist model and its unique governance. Stéphane reflects on legislative challenges, the importance of public affairs in the mutual sector, and the impact of strategic initiatives on MAIF Group’s operations and reputation. Previously Director of Public Affairs, and now Secretary General, Stéphane describes the responsibilities and skills required for this pivotal role, emphasising the value of mutualism, democratic governance, and risk pooling in addressing contemporary insurance challenges.
Catherine Hock: In a few lines, could you summarise your background and how you came to join MAIF? Were you familiar with the mutual model before joining MAIF?
Stéphane Tisserand: My arrival at MAIF coincided with a complete discovery of the mutualist model. In my mind, as for many people I think, I reduced the term ‘mutual’ to supplementary health insurance. My view of business in general was shaped in a very traditional way. Before joining MAIF, I had a long career as an adviser to political leaders at the National Assembly, in government and at the European Parliament. In France and in Brussels, where I followed the work of the Industry Committee, I had never encountered the specificities of mutualist governance.
CH: Let’s pause for a moment on your fifteen years in charge of public affairs – could you share a legislative challenge you successfully managed?
ST: The establishment of the public affairs team happened gradually. In 2008, lobbying culture was not very widespread in French economic circles and even less so in mutualist ones. Things are now very different and I am proud to see the influence of MAIF, and more broadly of the mutualist world, in dialogue with public authorities not only in France but also in Europe. There have been many legislative battles my team is proud of. If I had to mention just one, it would be putting the issue of insurability in the face of climate risks at the heart of the debate, to mobilise the profession and public authorities around the need to evolve the legislative and regulatory framework. But the fight continues on this subject.
CH: In your view, what are the key skills for a public affairs expert within a mutual group?
ST: The fundamental skills in public affairs are common to all professionals in this field. You then need to master the issues of your sector and build the right arguments and strategies to promote them. Nothing very original there, but in the mutualist sector, we often face a complete lack of understanding of our activities by public authorities. We still sometimes have to remind them that MAIF is a private company and not an offshoot of the public sector! So you need to be more tenacious than elsewhere and show great pedagogical skills. Finally, experience shows how much strength lies in unity. We must build and carry our strategies together, among mutualist players. It’s a winning recipe.
CH: Could you give a specific example where public affairs initiatives had a direct impact on MAIF’s operations or reputation?
ST: A few years ago, we acquired a subsidiary specialising in insurance for local authorities. It operated in a highly strained market, with fewer and fewer insurers and prices that no longer reflected economic reality. By developing dialogue with public authorities and proposing new support measures, we helped rebalance the market economically and eased public pressure on the issue.
CH: You expressed interest in creating a global network of mutuals to share information on public affairs. What do you hope to gain from this initiative?
ST: Indeed, and I am deeply grateful to Liz Green and the ICMIF team for setting up a Public Affairs Working Group, which will meet for the third time in Paris at the end of February. Our professional federations, national or European, allow us to work together to structure and conduct effective lobbying on issues we share. But there was no working circle to map the different lobbying topics country by country and understand the arguments and strategies used by insurers. Yet we operate in a globalised market. When public authorities in one country make decisions for the sector, very often the issue resurfaces months or years later in other countries. The incredible platform that ICMIF represents can thus provide a broad understanding of regulatory trends worldwide and allow us to benefit from the experience of members already facing specific legislative or regulatory challenges.
CH: Now let’s talk about your appointment as Secretary General, a position the French daily Les Echos calls the “joker in corporate life”. What were your first impressions of this role, which is undoubtedly a gear shift?
ST: First of all, gratitude towards the group’s leaders who trusted me to take on a role that occupies a unique place at the heart of corporate governance. Then a slight feeling of vertigo, which for a mountain lover is rather disconcerting. But by moving step by step, taking time to understand and analyse the best path forward, the way became increasingly clear.
CH: What aspect of your new role do you enjoy most?
ST: Undoubtedly being at the heart of information and decision-making. The role of Secretary General leads you to attend the main decision-making bodies of the company, notably the Executive Committee and the Board of Directors. It is a privilege to have a 360-degree view of the mutual and to attend debates where the company’s strategic decisions are shaped.
CH: How do you manage the workload?
ST: I am fortunate to have incredible teams I can rely on in all situations. Giving meaning, delegating, trusting – that’s the key.
CH: In a company like MAIF, what qualities and skills are essential for a Secretary General?
ST: It’s a very transversal role requiring rigour, a sense of anticipation, discretion and sometimes a touch of diplomacy… Above all, you must understand the issues specific to two distinct governance bodies: the Board of Directors and the Executive Committee. Then you need to ensure their perfect coordination in the service of overall governance and make sure decisions are taken in the right place, at the right time and under the best possible conditions.
CH: Do these skills differ from those in listed companies?
ST: Overall, no. However, unlike listed companies, we are not subject to stock market law. We have no shareholders; our General Assembly is composed of elected representatives of our members. We must organise these elections and support these representatives throughout the year, notably by providing them with the best possible information on the company’s situation. Moreover, Board members are elected by the General Assembly and all come from our membership base. Finally, European insurance companies are subject to the specific rules of the Solvency II directive, which impacts governance organisation.
CH: In light of your career and current role, what motivates you most? How do you see your role evolving in the coming years, both within MAIF and in the wider mutualist movement?
ST: Without a doubt, contributing to the development of an incredibly relevant company and model. I therefore hope to continue bringing this transversal perspective.
CH: In your book (Chneiweiss, A. & Tisserand, S. (2015) Mutualism: Meeting Insurance Challenges. Foundation for Political Innovation.), co-written with A. Chneiweiss in 2015, you discuss the modernity of the mutualist model and its democracy, which is not a chimera. Could you comment? What makes it particularly suited to today’s world?
ST: The mutualist model has often been mocked and seen as less efficient than capitalist companies. Yet mutual insurers have proven their resilience and democratic vitality. Their model is no more a utopia than a relic of the past. Quite the opposite. Just read the latest ICMIF Key Statistics report 2025 to see once again their dynamic growth worldwide. It is based on member involvement in governance, the quality of guarantees and services provided, strategies anchored in the long term and the pursuit of fair profit. We meet people’s expectations for quality, sincerity and proximity in an increasingly disembodied and consumerist world.
CH: Of all the characteristics of mutuals, which do you think is best able to address the challenges facing all insurers?
ST: The essential characteristic of mutuals is risk pooling. With the multiplication and acceleration of climate risks, and the emergence of increasingly fragile geographical areas, the threat of some populations no longer finding an insurer is growing. The answer to this major challenge is to maintain mutualisation. We must not give ground on this crucial issue. Finally, I would stress the democratic dimension of our mutuals. It is also a fundamental feature of our models. At a time when we see populist movements gradually undermining democracy worldwide, we must not give ground on this subject. Let us continue to assert our model, more necessary than ever.
