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Hélène Massard (Foyer Group): Balancing tradition and innovation in insurance
Marie-Hélène Massard, Deputy CEO of Foyer Group, shares the trajectory of this key player in Luxembourg’s insurance market and her outlook for the future. She discusses how Foyer Group is evolving to meet customer expectations while driving growth and solidifying its position as a market leader.
Can you tell us a bit about Foyer Group?
Founded in 1922 by a group of entrepreneurs led by Léon Laval, our company is still family-owned. In the early days, Foyer Group concentrated on life and non-life insurance for individuals and companies in Luxembourg. Our activities have expanded, particularly on the Belgian market and internationally, with three key segments: life insurance in Europe through WEALINS, wealth management with CapitalatWork, and international health cover with Foyer Global Health. With over 1,000 employees, mostly based in Luxembourg, we manage more than €25 billion in assets and have over €1.3 billion in capital. Foyer Group is the market leader in Luxembourg, with a 40% market share and a network of 125 branches and around 600 agents.
"Even as a market leader, we maintain a challenger's approach."
Marie-Hélène Massard, Deputy CEO of Foyer Group
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How are your customers' needs changing, and are you adapting to them?
While our customers are looking for greater speed and simplicity, their fundamental expectations remain unchanged. Whether they are individuals, craftsmen, self-employed professionals or businesses, and whether they are based in Luxembourg or abroad, they all desire a blend of digital and human interactions to support them during key moments. We favour a personalised approach for each customer before offering solutions and tailor our communications to their preferences, whether by email, telephone or face-to-face. Our agents frequently visit our customers to save them time.
In response to the changing needs of our customers, we are constantly seeking to innovate. We are rethinking our offerings, extending our range of services and improving our efficiency, also exploring the potential of data and AI. Even as a market leader, we maintain a challenger’s approach. Our teams like this state of mind and are proud of what they achieve in this dynamic.
What is Foyer Group's vision for the next 5 years?
We will pursue our ambitions for growth and diversification through our 5 business lines: insurance on the Luxembourg and Belgian markets, international life insurance, international health insurance and wealth management. In the Luxembourg market, we will continue to seize opportunities to strengthen our position. In particular, we want to provide our customers with greater support in financing their retirement. Internationally, we will continue to expand by capitalising on our solid presence in Europe. WEALINS is already active in more than 10 markets and is stepping up its growth. Foyer Global Health meets the growing healthcare needs of an international clientele. And CapitalatWork helps families manage and pass on their wealth from one generation to the next. Alongside our organic growth, as in the past, we will also remain open to acquisition opportunities to accelerate our development.