Insurance Europe (known as Comité Européen des Assurances until March 2012) is the European

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

and

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

federation.Website: https://www.insuranceeurope.eu/ Through its 37 member bodies — the national insurance associations — it represents all types of insurance and reinsurance undertakings, e.g. pan-European companies, monoliners, mutuals and

SMEs Superconducting magnetic energy storage (SMES) systems store energy in the magnetic field created by the flow of direct current in a Superconductivity, superconducting coil which has been Cryogenics, cryogenically cooled to a temperature below ...

. Insurance Europe, which is based in Brussels, Belgium, represents undertakings that account for around 95% of total European premium income. Insurance makes a major contribution to Europe's economic growth and development. European insurers generate premium income of €1,200 billion, employ almost one million people and invest more than €10,200 billion in the economy. The federation is the voice of the European

insurance industry Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

at European and international levels. It is a fair and reliable partner and a contact point for

Institutions of the European Union The institutions of the European Union are the seven principal decision-making bodies of the European Union and the Euratom. They are, as listed in Article 13 of the Treaty on European Union: * the European Parliament, * the European Counci ...

, politicians and supervisors. The federation provides services to the European and international institutions to the benefit of its members. In the regulatory process, it represents the common interests of European insurers by developing, promoting, defending, illustrating and

lobbying In politics, lobbying, persuasion or interest representation is the act of lawfully attempting to influence the actions, policies, or decisions of government officials, most often legislators or members of regulatory agency, regulatory agencie ...

industry positions that are supported by technical research and expertise. Through government lobby, public affairs,

industry forum A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partici ...

s and issue management, it contributes to achieve a positive political, social, business and economic environment in support of the industry. Insurance Europe provides the infrastructure for an exchange information and experience between members. The federation also plays a supporting role in relation to its members and provides information and guidance on issues of interest to the European insurance sector.Tia Technology (01 June 2012
Insurance Europe - Facts and Figures
/ref> It promotes trust and confidence in the European insurance industry.Mission statement at https://www.insuranceeurope.eu/about-us

History

Insurance Europe was founded in 1953 as Comité Européen des Assurances (CEA). Insurance Europe had 18 members in 1953 and later had several dozen national member associations. Its aim was to observe the works of the

OECD The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate e ...

in Paris. Later, CEA shifted its attention and activities to the European arena, therefore adapting to the power structures resulting from the foundation of the European Community and its more recent evolution into the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

. It changed its name from Comité Européen des Assurances in March 2012. In 2020, it has 37 member countries, and based in Brussels still, and "represents undertakings that account for around 95% of total European premium income."about
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Mission statement

The federation's mission is: * To draw attention to issues of strategic interest to all European insurers and reinsurers in a sustainable manner. * To raise awareness of insurers' and reinsurers' roles in providing insurance protection and security to the community as well as in contributing to economic growth and development. * To promote – as the expert and representative voice of the insurance industry – a competitive and open market to the benefit of the European consumer as well as corporate clients.

References

External links

Official Website
{{Authority control 1953 establishments in Belgium Trade associations based in Belgium International organisations based in Belgium Organizations established in 1953 Pan-European trade and professional organizations Insurance industry organizations