Comité Européen des Assurances
Encyclopedia
Comité Européen des Assurances (CEA) is the European insurance
and reinsurance
federation. Through its 33 member bodies — the national insurance associations — the CEA represents all types of insurance and reinsurance undertakings, eg pan-European companies, monoliners, mutuals and SMEs. The CEA, which is based in Brussels, 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 over €1 050bn, employ one million people and invest more than €6 800bn in the economy.
The CEA is the voice of the European insurance industry at European and international level. The CEA is a fair and reliable partner and a contact point for Institutions of the European Union
, politicians and supervisors. The CEA provides services to the European and International institutions to the benefit of its members. In the regulatory process the CEA represent the common interests of European insurers by developing, promoting, defending, illustrating and lobbying
industry positions that are supported by technical research and expertise. Through government lobby, public affairs, industry forums and issue management, it contributes to achieve a positive political, social, business and economic environment.
The CEA provides the infrastructure for an exchange information and experience between members. The CEA plays a supporting role in relation to its members and provides information and guidance on issues of interest to the European insurance sector. The CEA promotes trust and confidence in the European insurance industry.
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The CEA has grown from 18 members in 1953 to its current 33 national member associations.
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and reinsurance
Reinsurance
Reinsurance is insurance that is purchased by an insurance company from another insurance company as a means of risk management...
federation. Through its 33 member bodies — the national insurance associations — the CEA represents all types of insurance and reinsurance undertakings, eg pan-European companies, monoliners, mutuals and SMEs. The CEA, which is based in Brussels, 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 over €1 050bn, employ one million people and invest more than €6 800bn in the economy.
The CEA is the voice of the European insurance industry at European and international level. The CEA is a fair and reliable partner and a contact point for Institutions of the European Union
Institutions of the European Union
The European Union is governed by seven institutions. Article 13 of Treaty on European Union lists them in the following order: the European Parliament, the European Council, the Council of the European Union, the European Commission, the Court of Justice of the European Union, the European...
, politicians and supervisors. The CEA provides services to the European and International institutions to the benefit of its members. In the regulatory process the CEA represent the common interests of European insurers by developing, promoting, defending, illustrating and lobbying
Lobbying
Lobbying is the act of attempting to influence decisions made by officials in the government, most often legislators or members of regulatory agencies. Lobbying is done by various people or groups, from private-sector individuals or corporations, fellow legislators or government officials, or...
industry positions that are supported by technical research and expertise. Through government lobby, public affairs, industry forums and issue management, it contributes to achieve a positive political, social, business and economic environment.
The CEA provides the infrastructure for an exchange information and experience between members. The CEA plays a supporting role in relation to its members and provides information and guidance on issues of interest to the European insurance sector. The CEA promotes trust and confidence in the European insurance industry.
The CEA, from 1953 to now
The CEA was founded in 1953. Its aim was to monitor the works of the OECD in Paris. Later CEA shifted its attention and activities to the European arena, thus adapting to the power structures resulting from the foundation of the European Community and its more recent evolution into the European UnionEuropean Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
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The CEA has grown from 18 members in 1953 to its current 33 national member associations.
The CEA's mission statement
The CEA’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.