Les assureurs mutualistes actifs sur le marché de l’assurance municipale en Europe

This presented analysis sought to assess the potential of the European municipal insurance market by looking into its main features and market size. It also weighed the potential impact of new regulatory requirements, in particular the European Commission Directive on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II). An overview of the insurance industry’s performance highlights a strong resilience of the mutual business model relatively to the competing capitalistic model. Mutual insurers in some European markets remain leaders in the market; a result attributable to innovative financial and legal arrangements that were decisive in overcoming challenges pertaining to capital requirements and market access while keeping their mutual DNA. Looking ahead, current macroeconomic imbalances ensure the mutual insurance model a positive outlook, despite headwinds stemming from regulation and other comparative legal disadvantages. As for the specific municipal insurance market, the research identified two major systems of policy issuance: the classical property & casualty (P&C) and life insurance contracts and the fully in-house managed contracts. In terms of outlook, the municipal insurance’s specific features and opportunities make it an area for business expansion where mutual insurers might play a key role