Joint press release on the Collective Agreement for the insurance sector

The Association des Compagnies d’Assurances et de Réassurances (Association of Insurance and Reinsurance Companies – ACA) and the unions ALEBA, LCGB-SESF and OGBL are pleased to announce that an agreement has been reached between the various stakeholders.

The agreement, signed on 16 May 2018 after several months of negotiations, will be effective in 2018, 2019 and 2020.

The new Collective Agreement introduces a number of benefits, including the following:

  • Granting of a conjunctural bonus (in 2018, 2019 and 2020)
  • Granting of an exceptional bonus (in 2018 and 2020)
  • Increase in starting salary scales for new hires (in 2018, 2019 and 2020)
  • Increase in threshold 1 and threshold 2 scales for all employees
  • Increase in guaranteed pay rises from threshold 1 to threshold 2 from EUR 6 to EUR 9 (index 100) over a three-year period
  • Right to training (40 hours per year including a minimum of 20 hours not linked to regulatory requirements)
  • Right to draw up an individual annual training plan
  • As regards the organisation of working time: application of the law with respect to working time with the option to establish a six-month reference period for flexitime

The agreement has yet to be approved by the various decision-making bodies.

This Collective Agreement is tailored to the needs of insurance company employees of any age and seniority, and seeks to guarantee their employability.

The unions and ACA believe that the social dialogue has been effective and respectful of the interests of each party, and that the results of these negotiations will prove beneficial for the insurance sector and the companies and employees thereof.

Luxembourg, 17 May 2018

Marc HENGEN              Jim SCHNEIDER           Patrick MICHELET              Véronique EISCHEN

ACA                             ALEBA                                  LCGB                                          OGBL