Hello everyone, and welcome to Astrée's 150th banking, insurance and finance press review. Contents:

• Insurance broker fined for breaches of cold calling rules
• ACPR publishes its 2024 annual report
• The French Supreme Court issues a ruling on loan insurance: no compensation without proof of a definite loss of chance.
• European Union adopts 17th package of sanctions against Russia

Insurance broker fined for breaches of cold calling rules

June 2, 2025

A broker has been heavily sanctioned by the Direction départementale de la protection des populations ("DDPP") in the Eure department. An administrative fine of 182,917 euros was imposed for failure to comply with legislation on telephone canvassing.

The company has been penalized for contacting consumers registered on the Bloctel anti-solicitation list, and for failing to check its commercial prospecting files with the organization managing the list.

Publication of the ACPR's 2024 annual report

May 28, 2025

The Autorité de contrôle prudentiel et de résolution ("ACPR") has published its 2024 annual reporthighlighting the resilience of the French banking and insurance sector, despite an uncertain global economic environment.

The AMF pursued its missions of surveillance, customer protection and combating money laundering and the financing of terrorism (AML/CFT), with a program structured around four key areas: risk vigilance, simplification, reducing vulnerabilities and strengthening controls.

The activity of the sanctions committee has decreased, with three decisions handed down in 2024, but the demands remain high, particularly in terms of AML/CFT and governance.

Loan insurance: no compensation without proof of a definite loss of chance

April 30, 2025

In this case, a borrower had taken out a mortgage and subscribed to the group insurance offered by her bank to cover the risks of death and disability. Following a second medical questionnaire, the insurer refused to cover total permanent disability and limited coverage to death. The borrower, declared disabled, was refused cover for her claim. She took legal action against the bank, claiming that it had failed in its duty to provide information and advice.

The judges rejected her claim, pointing out that she had not provided any evidence that another insurer would have accepted to cover the risk of disability in her health conditions. In other words, the loss of opportunity had not been proven beyond doubt.

The French Supreme Court endorses this reasoning without concrete proof that other insurance could have been obtained, the loss is not compensable.

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European Union adopts ^17th package of sanctions against Russia

May 20, 2025

The European Union adopts a ^17th package of sanctions against Russia, targeting the circumvention of existing measures via the "phantom fleet" used to illegally export Russian oil.

A further 189 ships have been sanctioned, along with 75 individuals and entities, including armaments manufacturers and the Surgutneftegaz energy group. New restrictions on the export of technology and spare parts have also been introduced.

Both texts are available here and here.

Very good week.