Albingia

Albingia is a French insurance company specialized in Risk management, and based in Levallois-Perret.

Albingia
IndustryInsurance
Founded1901
HeadquartersLevallois-Perret,
France
Area served
France
Key people
Bruno Chamoin (Chairman) (since 2003)
Revenue€229 million (2017)
€47 million (2018)
Number of employees
250 (2017)

Albingia is currently the only independent French insurance company specialized in Risk management.[1]

History

Albingia was founded in 1901 in Hamburg. its first French subsidiary opens in 1962.[2] In 1999 Albingia was sold to Axa for €850 million. In 2003, Albingia France was bought by Barclays Private Equity (now Equistone Partners Europe) then sold again in 2006 to Chevrillon & Associés et IDI.[3]

In 2018, Eurazeo bought shares of Albingia, alongside the Financière de Blacailloux, controlled by Bruno Chamoin, also Chairman of Albingia.[4][5][1]

On 9 April 2020, The Hellfest festival organization announced that they paid on 17 December 2019 to Albingia €175000 for cancellation risks, including pandemic risks, but that the company refused to pay for the cancellation of the festival. The contract was sold before the apparition of the COVID-19 pandemic in China.[6]

Activity

In 1962, the first risk management sold by Albingia was linked for machinery breakdown risks. Since that time its activity has expanded to other risks. It has approximately 3500 Insurance brokers.[7]

COVID-19 claims

In 2020, in regards to the COVID-19 pandemic, the company has decided to not cover for damages suffered by the client that runs the Hellfest music festival. As reported Hellfest's insurance policy covered pandemics. It was also reported that representatives from Albingia agreed, however they claimed it did not cover the COVID-19 pandemic because "respiratory diseases were excluded from the contract".[8] Hellfest reported that they will pursue litigation in court if Albingia doesn't comply with their requests.[6]

References
  1. "IDI et Chevrillon négocient la cession d'Albingia à EURAZEO et Financière de l'Elbe". Capital. 2018-07-02. Retrieved 2020-04-09. Fondée en 1901 en Allemagne et présente en France depuis 1962, Albingia est aujourd'hui l'unique acteur indépendant dans l'assurance des entreprises sur le marché français.
  2. "Assureurs et fonds s'intéressent au sort d'Albingia". Les Echos. 2018-06-20. Retrieved 2020-04-09.
  3. "Axa cède Albingia à Barclays PE". Les Echos. 2003-11-10. Retrieved 2020-04-09.
  4. "Albingia". Eurazeo. Retrieved 2020-04-09.
  5. "Eurazeo met la main sur le spécialiste des risques d'entreprises Albingia". Les Echos. 2018-07-01. Retrieved 2020-04-09.
  6. "Hellfest". Hellfest Productions. 2020-04-09. Retrieved 2020-04-09. Consciente des enjeux et de sa responsabilité, l'association Hellfest Productions avait pourtant pris le soin de contracter une assurance de type « tout sauf » avec la compagnie susnommée ALBINGIA, société française d'assurance ayant son siège à Levallois Perret, et ce pour la modique somme de 175 000 €, correspondant au montant de la prime du contrat censé nous couvrir de potentiels risques menant à une annulation. Ce même contrat d'assurance stipule clairement que seront prises en charge les pertes pécuniaires dues à d'éventuelles pandémies à condition que le contrat ait été signé avant l'apparition et la reconnaissance de cette pandémie par les autorités françaises ou par l'OMS. Notre contrat a été signé le 17 décembre 2019, soit avant l'apparition officielle du virus en Chine.
  7. "Bruno Chamoin (Albingia) : " Les courtiers sont les meilleurs vecteurs de la marque Albingia "". argusdelassurance.com. 2017-06-29. Retrieved 2020-04-09.
  8. "Coronavirus. L'assureur du Hellfest répète que ce risque était " exclu du contrat "". Ouest-France. 2020-04-11. Retrieved 2020-04-11.
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