The two lobby groups of French mutual and traditional insurers officially merged on Friday into the French Insurance Federation (FFA), as the sector faces a wave of consolidation and new regulations.
The newly created association covers 280 insurance companies, or 99 percent of the market.
“Insurers will benefit from an association designed to meet diverse challenges affecting them, be that in regulation, in digital, in climate or society,” the FFA said in statement.
Bernard Spitz, former president of the French insurance association FFSA, was elected president of FFA.
(Reporting by Maya Nikolaeva; Editing by Leigh Thomas)