Insurance in France at the second half of the 20th century
Most of these establishments were British, Belgian, Swiss, Dutch, Italian, etc. These foreign companies had coped with a French insurance sector composed of national, private and mutual companies.
This insurance landscape had undergone profound mutations after the Second World War, both from a regulatory and structural point of view.
The evolution of the regulatory framework is based on two provisions, namely:
- the Law of 27 February 1958, which provided for compulsory motor insurance,
- the Decree of 16 July 1976, which established the Insurance Code. This provision compiles in a single document all the legislation pertaining to the insurance activity.
From a structural point of view, the start of market concentration is carried by the Decree of 9 August 1953 governing State control on the national public companies and certain organizations having an economic or social purpose.
This provision had repercussions on the French insurance sector, which included a large number of nationalized companies.
Read also | History of French insurance
Insurance in France: the second half of the 20th century
- 1951Establishment of the Automobile Guarantee Fund (FGA)
- 1953Decree of August 9 allowing the merger and concentration of national insurance and capitalization companies
- 1957Takeover of the Société Anonyme de Réassurance by the Compagnie Française de Réassurance Générale, giving birth to the Société Anonyme Française de Réassurance
- 1958Law of 27 February making motor insurance mandatory