Insurance companies’ governance: dissociation of positions

On 15 July 2020 the authority of prudential supervision and resolution (ACPR) published a press release on the need to dissociate the positions of Board Chairman and General Manager.

This practice applied in banks has not yet been implemented within insurance companies. Thierry Derez, for instance holds the position of General Manager of various structures of the Covéa mutual group.

The French insurance authority is soon to impose the dissociation of positions. ACPR calls on all bodies under its supervision to apply the standard and put an end to the uniqueness of power, within the big companies notably.