Mutual societies: more transparent fees

This measure applies to all contracts entered into or renewed after 31 December 2013. The following information must be provided annually to the members and on any quotation or proposal in a legible, clear and intelligible form:

• the ratio, expressed as a percentage, between the amount of benefits paid by the insurer for reimbursement and compensation of costs incurred as a result of sickness, maternity or accident and the amount of contributions or premiums net of tax relating to those guarantees in respect of its entire portfolio of direct business, gross reinsurance business;
• the ratio, expressed as a percentage, between the total amount of the insurer's management costs in respect of those guarantees and the amount of the relevant contributions or premiums net of tax, and the composition of those management costs.

These management fees cover all the amounts incurred for:

• design contracts;
• market them (including sales network, marketing, intermediary fees);
• subscribe (including collection of contributions, termination management, accounting and legal monitoring);
• and manage them (including reimbursement, third-party management, customer information, support, services, additional services).