French ICMIF member the Association of Mutual Insurers (Association des Assureurs Mutualistes, AAM) have reported this month that mutual insurers are now sharing their forecast results for 2020.
A notable element of these results is the attractiveness of the mutual model in a context of health, economic and social crisis. In 2020, nearly 400,000 French people chose to take out a mutual insurance policy. AAM says this figure is significant and that it demonstrates an attachment of French people to the values carried by the mutualist model.
Mutualists at the heart of the health crisis
AAM says mutual insurers in France have remained solid and united. First, by ensuring continuity of service on their primary mission, risk coverage. Then by contributing to solidarity by financing up to EUR 130 million (of the EUR 400 million from the overall insurance sector) to the VSE / SME assistance fund in France. Finally, by increasing extra-contractual actions aimed at their members, with particular attention to professions in difficulty (extended payment deadlines, extended guarantees, discounts, price freeze, rent waivers etc).
In the difficult context of the health crisis, almost all AAM members also chose not to resort to partial unemployment.
In addition to these measures, there have been other solidarity actions carried out by AAM members: mobilisation of employees to monitor members, in particular vulnerable or isolated people; preventive actions; psychological assistance; legal information; support for associations; food drives; mask donations; and donations to research organisations working on vaccines or anti-Covid treatments.
These measures are reflected in AAM member results
According to the trends that emerge for all AAM members, mutualists see their results drop by 40% over the year 2020.
This decrease can be explained by the solidarity actions deployed by mutualists in the face of the crisis to the tune of one billion euros in extra-contractual gestures: participation in the solidarity fund to help VSEs / SMEs, participation in “collective” measures of the profession or individual measures with their members (discounts, payment deadlines, rent waivers, extended guarantees, etc.).
2020 is therefore a difficult year for the sector and for the economy as a whole in France but above all it is a year of solidarity for AAM, its members and their policyholders. AAM says that this is perhaps the first time that as mutual managers they are proud to see our results drop.
This mobilisation by French mutuals will continue for 2021 in a commitment to employment. In an uncertain economic climate, AAM members are committed to achieving 10,000 recruitments and welcoming 2,000 work-study students.
It is these commitments, this mobilisation of French mutual insurers and all of their employees, which increases the support of member policyholders. AAM says it salutes the nearly 400,000 new mutualists who share and will carry its values.