MACIF GROUP : MUTUALITY IN PRACTICE

1. MACIF GROUP : MUTUALITY IN PRACTICE

2. Agenda • Page • 3 • 7 • 11 • 21 • Mutuality and its environment • Macif : the french leader in Family insurance • Integrating Mutuality into our business model • Annexe

3. 1 • Mutuality and its environment

4. Macif’Group belongs to the Social Economy and abides by its three founding principles : Companies do not have share capital Therfore no Surpluses redistributed The main objective is not Profit driven Goal is to enhance the products and serve the community Each member is an individual policyholder and collectively an insurer Companies operate as partnerships Members are elected to organize responsabilities « The one man, one vote » rule Board of directors is composed with policyholders What are the fundamentals of Social Economy Principle of Non profit Principle of Collective insurers Principle of Democracy

5. From the Roots in France… Mutuality 1898 Foundations 1987 XXe Century Associations 1901 Cooperatives 1884 Syndicalism 2 Major Theorists Pioneering Entrepreneurs Charles Fourier Jean Baptiste Godin Charles Gide Robert Owen Political : Utopist Socialism Radicalism liberalism St Simon Leroux – Proudhon L. Bourgeois – Ed Herriot Ch. Dunoyer – Stuart Mill XIX Century Religious Secular Louis Blanc Buchez – F. Le Play

6. To representing 10% of the French Economy 10,% Social Economy 90% Capitalistic Economy In 2004 : 11,70 % of GDP 1985 : 6% of GDP 2.14 million employees • € 57 billions salaries Insurance • National representation GEMA • Non Life : • 33 companies • 23,1 millions client • €11,1 B. • Life • 8 companies • 3,8 millions clients • €7,6 B. • € 67,9 B. provision 800 000 Companies • 730 000 associations • 21 000 cooperatives • 2 500 mutuals • 140 mutual company • rest.. Foundation… Activities : Insurance, Banking, Services, Health and social activities Source INSEE - 2008

7. 2 • MACIF • The Leader in Family Insurance 1960 2009

8. A path to success • One founding father: Jacques Vandier (Today Honorary Chairman) A targeted initiative: Founders from the trade and industrial sectors of the Niort area, supported by the non-sedentary merchants’ trade union • 1 million policyholders 1960 1978 • A Regional structure • creating 11 independant regionsto • maintain relations with its members 1987 1996 • 3.7 million policyholders • First « Entreprise Project » • 4.753 million policyholders • 9 000 employees • 15 million people covered (5 millions members) 2000 2008

9. MACIF : turnover in 2007 Other types of insurance Home 7% 10 % Savings Auto € 5.01 billions 37% 38 % Health/Casualty 8 % Source: 2006 Annual Report

10. MACIF Group’s Organisation Mutavie Savings, pensions, life insurance Macif-Mutualité Health, disability and death insurance Personal and corporate contracts Macif Property insurance (motor, home, leisure, shops and associations…) Macifilia - Goods public transport insurance - SME insurance - «Group» contracts Macif Gestion Investment Management

11. 3 • MACIF • Integrating Mutuality in our business model

12. An Alternative Governance 1/2 A democratic representation system Board of Directors 24 members + 4 administrators elected by the employees General Assembly 144 national delegates Regional Assembly 2000 Regional delegates Policyholders 4,7 million

13. An Alternative Gouvernance 2/2 A democratic system Elect Appoint Managing Director RogerIseli • PresidentGérard Andreck The voting rate in 2008 was 20,28 %

14. A common bond with other insurers The Macif Group and its major partners SOCRAM Credit / Bank OFIVALMO IMA SOS company Investment management CAMPUS University To provide representatives a better understanding of their duties

15. A democratic communication system • The representatives play a crucial role. Members Representatives Regional Assembly Regional Managment General Assembly Express a need Transmit a wish Transmit it Study the feasibility New offering or new mechanism • The Entreprise Project : launched in 2007 where all the members are invited to express their opinion about the future of Macif. The group studies will determine Macif’s strategic direction for the period 2010 – 2015. • Commission : 7 of them exist (communication, international..). Where the technostructure and the political power make the decision.

16. MACIF : Creating new trends of solidarity • Unemployment Support Created in 1999, initiative aimed at eliminating or reducing social exclusion from unemployment by paying 99% of the premiums • Solidarity fund : compensate non insurable events. In 2009 2059 cases representing € 2 millions • Mediation A possibility offered to our members to appeal from non payment of a damage • Hearing Impaired 70 employees formed, 80 webcams installed

17. Integrating Sustainable Development Objective:Promoting the sustained development of the social economy in France and overseas by funding initiatives demonstrating an entrepreneurial spirit within an economic sector. • Macif has agreed to have its sustainable development evaluate by VIGEO Results:1.250 projects funded in 10 yearsGrants totaling over 9 million Euros

18. MACIF, other example of investment into society • Mobility : an appropriate response to environmental and safety challenges • 750 000 members advice on safe cars, reducing price of their insurance, • safer motorbikes (3 wheels..) : reducing prices • Investing into Environmental safety (specific garanty of environmental products + low rate on credit)

19. A mutualist and responsible report

20. Investing into the Profession FFSA

21. 4 • Annexes

22. Creating new trends of solidarity • Solidarity fund : proposing to compensate non insurable events. In 2009 : 2059 cases representing € 2 millions

23. Gouvernance

24. References • GEMA : Gérard Andreck Mutual company : a new way to govern insurance company. (www.gema.fr) • Macif : Corporate ans Social reports 2007 and 2006