Crédit Mutuel and CIC to compensate COVID-19 operating losses

covid-19Crédit Mutuel and CIC Assurances will allocate 200 million EUR (217 million USD) to compensate the policyholders who underwrote a professional comprehensive insurance involving the operating losses.

Each insured company will receive a fixed premium ranging between 1 500 EUR (1 626.74 USD) and 20 000 EUR (21 690 USD). The premium is to be financed out of the group's results and shareholder’s equity. It will be paid from the beginning of May.

Read also | Lockdown impact on French insurance's loss experience

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