Insurance in France at the second half of the 20th century

Despite the difficult post-war context, France has continued to attract foreign stakeholders. In 1953, the country had 172 direct foreign insurers and 362 foreign insurance agencies.

la defense paris 1970Most 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.

Insurance in France: the second half of the 20th century

  • 1951
    Establishment of the Automobile Guarantee Fund (FGA)
  • 1953
    Decree of August 9 allowing the merger and concentration of national insurance and capitalization companies
  • 1957
    Takeover of the Société Anonyme de Réassurance by the Compagnie Française de Réassurance Générale, giving birth to the Société Anonyme Française de Réassurance
  • 1958
    Law of 27 February making motor insurance mandatory
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