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Economy

Lloyd Assurances awarded “Elected Customer Service of the Year 2026”

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy 
<h1>Lloyd Assurances Sets New Standard: Wins “Elected Customer Service of the Year 2026” in Tunisia – Urgent Breaking News!</h1>

<p>Tunis, Tunisia – December 17, 2025 – In a landmark achievement, Lloyd Assurances has been awarded the prestigious “Elected Customer Service of the Year 2026” label in the Insurance category. This first-time win for the company was announced at the seventh “Election of Customer Service Tunisia (ESCDA)” awards ceremony held yesterday, December 16th, in Tunis, signaling a significant shift in customer service excellence within the Tunisian insurance market. This is big news for consumers and a testament to Lloyd Assurances’ dedication to putting customers first.</p>

<h2>The ESCDA Awards: A Benchmark for Service Excellence</h2>

<p>The ESCDA label, a highly respected industry benchmark, originated in France in 2007, founded by Ludovic Nodier. Its expansion to Tunisia in 2019 reflects the growing recognition of the vital role customer service plays in building brand loyalty and driving business success.  The ESCDA awards aren’t simply popularity contests; they involve rigorous evaluation processes, often including customer surveys, mystery shopping, and analysis of service metrics. Winning this award demonstrates a commitment to consistently exceeding customer expectations.</p>

<h2>Why Customer Service Matters More Than Ever in Insurance</h2>

<p>The insurance industry, traditionally perceived as complex and sometimes impersonal, is undergoing a transformation.  Today’s consumers demand more than just financial protection; they want a seamless, empathetic, and personalized experience.  A recent study by Forrester Research shows that companies with a strong customer service focus see a 15% increase in customer lifetime value.  Lloyd Assurances’ win suggests they’re not just acknowledging this trend, but actively leading the charge.  </p>

<p>But what does excellent customer service *look* like in the insurance world? It’s about proactive communication, simplified claims processes, readily available support channels (think 24/7 online chat, dedicated account managers), and a genuine willingness to go the extra mile.  It’s about building trust, especially during vulnerable moments when customers are seeking financial security.</p>

<h2>Lloyd Assurances: A Rising Star in the Tunisian Financial Landscape</h2>

<p>While this is the first ESCDA win for Lloyd Assurances, the company has been steadily building a reputation for innovation and customer-centricity.  They’ve invested heavily in digital transformation, offering online policy management and mobile apps to enhance convenience.  This award validates those investments and positions Lloyd Assurances as a key player in the evolving Tunisian financial services sector.  The company’s success also highlights the increasing competitiveness within the Tunisian insurance market, pushing all players to elevate their service standards.</p>

<h2>Looking Ahead: The Future of Customer Service in Tunisia</h2>

<p>Lloyd Assurances’ achievement sets a new benchmark for customer service in Tunisia.  It’s a clear signal to other insurance providers that prioritizing the customer experience is no longer optional – it’s essential for survival and growth.  We can expect to see increased investment in customer service technologies, training programs, and a greater emphasis on personalization across the industry.  This win isn’t just a victory for Lloyd Assurances; it’s a win for Tunisian consumers.  Stay tuned to archyde.com for continued coverage of the Tunisian financial sector and the latest trends in customer experience.  We'll be following Lloyd Assurances' journey and reporting on how they continue to innovate and serve their customers.</p>

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Economy

Borrower insurance: how to take advantage of the drop in prices in 2025

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

French Banks Hit with €800,000+ in Fines for Mortgage Insurance Obstruction – Could You Save Thousands?

Paris, France – In a landmark decision impacting millions of French homeowners, four major banks – BRED Banque Populaire, Caisse d’Épargne Île-de-France, Crédit Agricole Paris Île-de-France, and previously CIC Est – have been slapped with hefty fines totaling over €800,000 for deliberately making it difficult for borrowers to switch mortgage insurance providers. This breaking news reveals a systemic issue that could be costing French families significant money, and signals a major shift in consumer rights within the financial sector. This is a crucial moment for anyone with a mortgage, and a prime example of why staying informed about your financial options is vital.

The Fight for Freedom: What Happened?

France’s Fraud Repression authorities found that these banks were intentionally dragging their feet on requests to change insurance policies, exceeding the legal ten-day limit stipulated in Article L.313-31 of the Consumer Code. For decades, banks have enjoyed a near-monopoly on borrower insurance (assurance emprunteur), often charging exorbitant premiums. While the 2022 Lemoine Law granted borrowers the right to switch insurers at any time, these penalties demonstrate that banks haven’t been playing fair. The fines – €298,000 for BRED, €80,000 for Caisse d’Épargne, and €323,518 for Crédit Agricole – are a clear message: obstructing borrower choice will not be tolerated.

Why This Matters to You: Savings of Up to 5x!

The potential savings are staggering. According to Astrid Cousin, spokesperson for insurance broker Magnolia, a 25-35 year old could pay three to five times less for equivalent coverage by switching to a specialist insurer. Even for those aged 45 and over, savings can be as high as twice the cost of bank-provided insurance. This isn’t about sacrificing coverage; the regulations mandate equivalent guarantees. It’s about breaking the banks’ stranglehold on the market and fostering genuine competition.

Navigating the System: How to Switch and What to Watch Out For

So, how do you take advantage of this new reality? Experts recommend gauging your bank’s willingness to accept alternative insurance from the outset. If you sense resistance, it’s often best to initially sign with the bank’s insurance and then substitute it shortly after the loan is finalized. Don’t delay – premiums increase with age and pre-existing health conditions.

Here’s a quick checklist:

  • Start Early: Begin researching alternative insurance options as soon as you start the loan application process.
  • Work with a Broker: Consider using a specialized broker like Lesfurets, Artémis, Magnolia, SAS Que Choisir, Assfi, MetLife, or Handi Assur (especially if you have pre-existing health conditions). Brokers are typically paid by the insurer, but may also charge fees (€90-€2,000).
  • Ensure Equivalent Coverage: The new policy must offer the same level of protection as your original insurance.
  • Act Quickly: Premiums rise with age and health risks.
  • Simple Cancellation: You can cancel your existing policy via letter, email, or your insurer’s online portal.

The Bigger Picture: A Market Still Dominated by Banks

Despite the Lemoine Law, the borrower insurance market remains heavily controlled by banks. Crédit Agricole, CNP Assurances, and Crédit Mutuel Alliance Fédérale collectively hold nearly 60% of the market share. However, the recent penalties and growing awareness are shifting the landscape. Prices offered by alternative insurers have already fallen by 27% between 2020 and 2025, with even steeper declines (35%) for older borrowers. The real estate crisis has further pushed alternatives to focus on the “substitution” market – helping existing borrowers switch insurers.

Understanding Your Options: Fixed vs. Decreasing Premiums

Borrower insurance comes in two main forms: group contracts (offered by banks) and individual offers (from specialist insurers). You’ll also encounter two premium structures: fixed and decreasing. A fixed premium is best if you plan to stay in your home for less than eight years, while a decreasing premium (calculated on the remaining loan balance) is more suitable for long-term homeowners. Understanding these nuances can save you money over the life of your loan.

This recent crackdown on banking practices is a powerful reminder that consumers need to be proactive about their finances. Don’t assume your bank is offering you the best deal – shop around, explore your options, and take control of your mortgage insurance. For more in-depth information and resources, visit archyde.com to stay ahead of the curve in the ever-evolving world of personal finance.

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Economy

Kenya’s Benefits from Enhanced Remittance Services Propel Economic Growth

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Kenya Raises Reinsurance Transfer Rate to 25% in Major Insurance Overhaul

Table of Contents

Nairobi – The kenyan Government is poised to considerably alter the landscape of its insurance industry with a proposed increase in the legal transfer rate to Kenya Re,the nation’s primary reinsurance provider. The move,part of broader amendments to the insurance bill,is expected to bolster national financial capacity and stimulate market growth.

Published: 2025-10-17


Key Changes to the Reinsurance Landscape

Under the proposed amendments, the mandatory reinsurance transfer rate to Kenya Re will increase from the current 20% to 25%. This adjustment will take effect on January 1, 2026, impacting all life and non-life reinsurance treaties signed for that year and beyond. Government officials have emphasized that this policy shift is designed to fortify domestic financial infrastructure and encourage investment within the country.

The anticipated impact extends to Kenya Re itself,which is currently 60% state-owned. Authorities foresee increased revenues for the reinsurer as a direct consequence of the enhanced transfer rate.

Understanding Reinsurance and Transfer Rates

Reinsurance is essentially insurance for insurance companies. It allows insurers to transfer some of their risk to another entity – in this case, Kenya re – protecting them against considerable losses. The transfer rate dictates the percentage of risk an insurance company must cede to the reinsurer. A higher rate means insurers transfer more of their risk, ensuring Kenya Re’s stability and financial health.

Factor Current Rate Proposed Rate Effective Date
Legal Transfer Rate to Kenya Re 20% 25% January 1, 2026
Government Ownership of Kenya re – 60% –

Did You Know? Kenya Reinsurance Company Limited (Kenya Re) is a leading provider of reinsurance solutions in Africa and the Middle East, operating in over 30 countries.

The Broader Context of Kenyan Insurance

Kenya’s insurance sector has experienced notable growth in recent years. According to the Insurance Regulatory Authority (IRA), the sector’s gross underwritten premium increased by 12.8% to Ksh 278.63 billion in 2023 (Insurance Regulatory Authority). This expansion reflects rising incomes, heightened awareness of risk management, and increased regulatory oversight. Though, penetration rates remain relatively low compared to regional peers, presenting opportunities for further development.

This move is akin to similar strategies employed in othre emerging markets to strengthen domestic financial institutions and reduce reliance on foreign reinsurance providers. For example, India has gradually increased the mandatory cession to its national reinsurer, General Insurance Corporation of India (GIC Re), over the years.

Pro Tip: Companies operating within Kenya’s insurance market should proactively assess the implications of this new transfer rate on their reinsurance strategies and premium calculations.

Frequently Asked Questions about the Reinsurance Rate Increase

  • What is the primary goal of increasing the reinsurance transfer rate? The main objective is to strengthen Kenya’s national financial capacity and promote market development.
  • When will the new reinsurance transfer rate take effect? The 25% rate will be effective starting January 1, 2026.
  • How will this impact insurance companies operating in Kenya? insurers will be required to transfer a larger portion of their risk to Kenya Re, possibly influencing their reinsurance costs.
  • What percentage of Kenya Re is currently owned by the Kenyan state? The Kenyan state currently holds a 60% ownership stake in Kenya Re.
  • Is this similar to policies implemented in other countries? Yes, several emerging markets have adopted similar strategies to bolster their domestic reinsurance industries.

What are your thoughts on this new regulation? Will it positively affect the Kenyan insurance market? Share your insights in the comments below!


Okay, here’s a breakdown of the provided text, focusing on key themes, arguments, and potential uses. I’ll organize it into sections for clarity.

Kenya’s Benefits from Enhanced Remittance Services Propel Economic Growth

The Rising Tide of Remittances to Kenya

Kenya has witnessed a significant surge in remittance inflows over the past decade, becoming a crucial pillar of its economic stability and growth.These international money transfers, primarily from Kenyans working abroad – notably in North America, Europe, and the Gulf states – are no longer simply supplemental income for families; they are a major driver of national advancement. Understanding the nuances of these diaspora remittances and the improvements in remittance services is key to appreciating their impact.

Understanding the Scale of Remittances in Kenya

The numbers speak for themselves. According to the Central Bank of Kenya, remittances consistently outperform export earnings in many years.

* 2023 Figures: Remittances to Kenya reached a record high of $4.03 billion in 2023, a substantial increase from previous years.

* Contribution to GDP: Remittances contribute approximately 3-4% to Kenya’s Gross Domestic Product (GDP), exceeding revenue from key export sectors like tea and horticulture.

* Household Income: For many Kenyan households,remittances represent a significant portion of their disposable income,enabling access to education,healthcare,and improved living standards.

This consistent flow of funds provides a vital buffer against external economic shocks and supports a wide range of economic activities.

how Enhanced Remittance Services are Fueling Growth

Traditionally, sending money to Kenya was expensive and cumbersome. High transaction fees, unfavorable exchange rates, and limited access to formal money transfer services eroded the value of remittances. However, recent advancements in financial technology (FinTech) and increased competition among remittance companies have dramatically improved the landscape.

The Impact of Mobile Money Transfers

The proliferation of mobile money platforms, spearheaded by M-Pesa, has been revolutionary.

  1. Reduced Costs: Mobile money considerably lowers transaction costs compared to traditional methods like bank transfers or money transfer operators (MTOs).
  2. Increased Accessibility: M-Pesa’s extensive network of agents, even in remote rural areas, ensures that recipients can easily access funds.
  3. Faster Transfers: Funds are typically available within minutes, providing immediate financial relief and enabling timely investments.
  4. Financial Inclusion: Mobile money has brought millions of previously unbanked Kenyans into the formal financial system.

Other players like WorldRemit, Xpress Money, and Western Union have also adapted, integrating with mobile money platforms to offer competitive services.

The Role of Fintech Innovation

Beyond M-Pesa, a wave of FinTech startups are further disrupting the remittance market in Kenya. These companies are leveraging technology to:

* Offer competitive exchange rates: Utilizing real-time exchange rate data to provide better value for senders.

* Streamline the transfer process: Simplifying the sending and receiving experience through user-friendly mobile apps and online platforms.

* Expand access to financial services: Providing access to savings accounts, microloans, and insurance products alongside remittance services.

* Blockchain Technology: Some companies are exploring blockchain-based solutions to further reduce costs and enhance security.

Specific Economic Benefits Driven by Remittances

The positive effects of increased and more efficient remittances extend far beyond individual households. They are actively contributing to broader economic development in kenya.

Boosting Small and Medium-Sized Enterprises (SMEs)

remittances are a crucial source of capital for SMEs in Kenya.

* Start-up Funding: Many entrepreneurs rely on remittances from family members abroad to launch their businesses.

* Working Capital: Existing SMEs use remittances to finance operations, purchase inventory, and expand their activities.

* Job Creation: The growth of SMEs, fueled by remittances, leads to increased employment opportunities.

Investment in Education and Healthcare

A significant portion of remittances is allocated to education and healthcare.

* School Fees: Remittances enable families to afford school fees, uniforms, and educational materials, improving access to quality education.

* Healthcare Costs: Remittances help cover medical expenses, particularly for specialized treatments and hospital stays.

* Improved Health outcomes: Increased access to healthcare leads to improved health outcomes and a more productive workforce.

Real Estate and Infrastructure Development

Remittances are also driving investment in real estate and infrastructure.

* Housing Construction: many Kenyans use remittances to build or purchase homes, contributing to the growth of the construction sector.

* Infrastructure Projects: Increased economic activity, supported by remittances, generates demand for improved infrastructure, such as roads, electricity, and water supply.

Supporting Rural Economies

Remittances play a particularly significant role in supporting rural economies.

* Agricultural investment: Farmers use remittances to purchase seeds,fertilizers,and equipment,increasing agricultural productivity.

* Rural Businesses: Remittances support the growth of small businesses in rural areas, creating employment opportunities and reducing poverty.

* Reduced Rural-Urban migration: By providing economic opportunities in rural areas, remittances can help reduce the pressure on urban centers.

Challenges and Future Outlook for Remittance Flows to Kenya

Despite the positive trends, challenges remain. Fluctuations in global economic conditions, political instability in host countries, and regulatory changes can all impact remittance flows.

Addressing Potential Risks

* **Diversification of Source Countries

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Economy

In Cannes, Maître Guillaume Darde, a lawyer dedicated to supporting companies in difficulty

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Cannes Welcomes New Business Law Expert as Companies Face Rising Difficulties

Cannes, France – In a move signaling a commitment to supporting businesses navigating increasingly complex economic landscapes, Maître Guillaume Darde has established his law firm in Cannes, specializing in business law and, crucially, companies in difficulty. This breaking news comes at a time when businesses across France – and globally – are grappling with economic headwinds, making expert legal guidance more vital than ever. This is a developing story, optimized for Google News and SEO visibility.

From Personal Experience to Professional Expertise

Maître Darde’s path to becoming a leading voice in business law isn’t solely academic. His journey was profoundly shaped by a personal experience: the challenges faced by his father’s company in 2010. This firsthand understanding, coupled with a strong theoretical foundation – including Master’s degrees in “Law of companies in difficulty” and “Administration and liquidation of companies in difficulty” – fuels his dedication to providing both technical and human support to business leaders and legal agents.

A Career Forged in Restructuring and Recovery

Before launching his own firm, Maître Darde honed his skills through extensive experience with judicial administrators in Nice and Paris. For nearly four years, he collaborated with leading practitioners, gaining invaluable insight into the intricacies of company restructuring. He was sworn in as a lawyer in 2021 after a pivotal shift from collaborative work at Montagard & Associates, and now brings that wealth of knowledge to the Côte d’Azur. This experience is particularly relevant as France sees a rise in preventative restructuring measures, a trend experts predict will continue throughout 2024 and beyond.

Serving Both Businesses and the Justice System

The firm’s unique approach caters to two distinct, yet interconnected, client bases: business leaders facing crises and justice agents – administrators and liquidators – requiring specialized legal support during their mandates. Maître Darde’s expertise spans the full spectrum of business difficulties, from proactive preventative measures like ad hoc mandates and conciliation, to navigating complex collective procedures such as safeguarding, recovery, and compulsory liquidation. He also provides critical support to managers facing personal liability during liquidation, protecting their interests against creditor claims and potential criminal prosecution.

Beyond the Legal: A Pragmatic and Available Partner

What sets Maître Darde apart isn’t just his legal acumen, but his commitment to responsiveness and accessibility. “Customers need rapid and precise answers,” he emphasizes. “This is one of the main differentiating factors in our office.” He champions a pragmatic, rigorous approach, and is readily available – even outside of traditional business hours – to address urgent needs. This dedication to client service is a key differentiator in a field often perceived as slow-moving and inaccessible.

Building a Future-Focused Firm

Maître Darde isn’t content with simply establishing a successful individual practice. He envisions a future where law firms are structured as multidisciplinary hubs, capable of tackling the growing complexity of modern business challenges. He’s already forging partnerships with lawyers across different specializations and plans to establish an interbarreaux association with a colleague from the Nice Bar by 2026. This forward-thinking approach reflects a broader trend in the legal profession towards collaboration and specialization, ensuring clients receive comprehensive and effective legal solutions. The goal? To create a true business law firm, equipped to handle the most demanding cases.

Located in the heart of Cannes, Maître Guillaume Darde’s firm represents a vital resource for businesses and legal professionals alike. His blend of practical experience, legal expertise, and unwavering commitment to client support positions him as a trusted partner in navigating the complexities of the modern business world. For businesses seeking proactive legal counsel or facing critical challenges, and for justice agents requiring specialized support, Maître Darde’s firm offers a reliable and adaptable solution. Stay tuned to archyde.com for further updates on this developing story and expert insights into the evolving landscape of French business law.

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