The property-casualty business includes the insurance of personal property (cars, homes) and liability (personal or professional). It covers a broad range of products and services designed for our individual and business clients.
Assistance services are part of the property-casualty offering, which also includes international insurance for large corporate clients in Europe and a few specialty lines, such as Marine and Aviation.
Insurance is a transaction whereby a client pays a premium or contribution to an insurer to ensure coverage in the event of an insured loss (fire, accident, theft, etc.). All of the premiums collected by the insurer are used to settle the claims filed by its policyholders, as well as its own operating costs. By pooling risks, the insurance industry organizes solidarity among policyholders and protects them at a reasonable cost (whereas the cost of an exceptionally serious car accident, for example, can run to several million euros). The key performance indicator in property-casualty insurance is the combined ratio, which is defined as the ratio between the amount of claims paid out and the insurer's operating costs on the one hand, and the premiums collected on the other. The lower this ratio is (in particular below 100%) the more profitable the insurer. The profitability of the insurer depends on its ability to assess risk correctly in order to price it correctly (the premium), to pool it and to optimize its own operating and administrative costs.