Created on July 6, 2023 (Ministerial Decree no. 2023-407), the Syndicat Professionnel des Intermédiaires d'Assurance et Réassurance en IARD et VIE (SPIA) brings together insurance professionals, both individuals and corporate entities, duly authorized to practice in the Principality of Monaco, with at least one year's professional experience in this capacity.
The purpose of the SPIA is to study and defend the economic and professional interests of its members, to represent their profession, to pool resources to provide services to members, to promote and enhance the profession of insurance and reinsurance intermediaries, and to ensure the necessary cohesion between its members.
As no insurance company is established in the Principality of Monaco, insurance policies are underwritten by French insurance companies subject to ACPR supervision, or by EU insurance companies authorized to operate in France. In 2020, Monaco had 83 agents and brokers, including banking establishments representing over 150 insurance companies.
In the light of current European, French and national legal developments, we feel it is timely to relay the various projects and numerous subjects linked to Monaco's specific characteristics during exchanges with our members.
SPIA is affiliated to the FEDEM, which represents Monegasque entrepreneurs and enables its members to benefit from its economic, social and legal expertise.