Other Services


The time has come to recognize the value of specialization and competence, which represent an engagement at all levels of the company for LRA and LRS

The endurance of LRA and LRS stems from the ability of this player to adapt itself, to prove its competence, its technical expertise of the insurance objects it handles, in particular in aviation insurance, within airlines, aerospace, general aviation and space. In each of these skills, LRA and LRS, and its underwriting and claims experts, were able to develop a long-term vision and this long-term vision is part of the identity of our company. In the wider insurance market and specifically in the aeronautical and space insurance markets, everybody likes to proclaim oneself a long-term player. In my opinion, everybody will recognize that our company did not just claim it but also proved it. The quality of the economic performance of LRA and LRS has outlasted many competitors and is based strongly upon underwriting skills. This has resulted in both a combined ratio, which has outperformed many in the market as well as cost ratios which are considerably lower than others due to the size and efficiency of the company.

LRA’s and LRS’s priority is, has always been and will continue to be, their capacity to maintain an expertise in technical subjects in the areas of underwriting, claims as well as management. This is why, in 2020, LRA and LRS have launched a comprehensive project consisting in a complete redesign of their IT system and the implementation of powerful business intelligence tools, which will allow LRA and LRS to deal with their specific business segments. These business intelligence tools will enable us to monitor how our clients develop, including how their transformation issues evolve. They will allow us also to be even more relevant in delivering our product offerings as well as making underwriting decisions geared to the risks our clients ask us to insure. Thanks to business intelligence, we will be in a position, as from this year, and even more in the years to come, to connect the premium and claims data, i.e. the data which are traditionally monitored in the insurance sector, with qualitative risk data in a way which is appropriate and specific to each of the insurance segments we are interested in.

After many years of a soft market, which has seen the values of expertise and professionalism being treated a bit harshly in the environment of hyper-competition prevailing then, the time has come to recognize LRA’s and LRS’s values of a high-quality offer, whether in terms of content or duration or continuity of their relationship with their clients, intermediaries and investors.

Read more Hide
Michel Brafman
Chief Operations Officer


We modernize ourselves in order to upgrade the service we provide to our insureds in their hour of need. Technology allows us to free up valuable time to dialogue with our intermediaries and clients.

The buzzword of LRA’s claims team in 2019 is modernization. We modernize ourselves in order to upgrade the service we provide to our insureds in their hour of need.

2019 will have been the year of the digitization of our claims management. We have gone “paperless” as of January 1st of last year. 2019 is also the year, which has seen a progressive implementation, as of September, of a simplified settlement process of the simple claims we manage in coinsurance, called Fast Track.

The digitization of our claims management helps of course to ensure the continuity of our service, including in crisis situations. The strikes of the end of last year have given us indeed the opportunity to test the benefit of digitization in this respect. The digitization of our claims management also guarantees more efficient management of the relationship with our intermediaries, brokers and agents; we intend to upscale our digital exchanges with these business partners. And, naturally, these digitization efforts are part of our greenhouse gas reduction strategy and are aimed at contributing to the protection of the forests and the preservation of the planet in general.

Second innovation topic as said: a gradual implementation, as from September 2019, of a simplified settlement process of the simple claims for which we are not the leading insurer but one of several co-insurers. Our colleagues of the back office, who are also in charge of the whole claims administration process, handle these claims from now on. These tasks were previously the responsibility of the claims management team who is therefore more available for brokers.

These developments support our permanent engagement towards a high-quality claims management for the sake of our insureds in their hour of need, i.e. when a claim occurs.

In our opinion, high-quality management stands in the first place for speed of settlement. The implementation of the Fast Track process and our back office colleagues handling claims that do not present a particular issue, answer this requirement.

At LRA we attach great value to human relations in claims management, especially when it comes to complex and sensitive cases. In this respect, it is very important for us that the innovations we put into place this year allow the claims team to free up time, as much as necessary, to be more available for our intermediaries and insureds, but also within LRA with the colleagues of the back office, with our colleagues of the underwriting and reinsurance departments, with our CEO when quick decisions are needed – we are all in the same building, which facilitates greatly the exchanges – with our colleagues of the actuarial department.

When necessary, of course, we seek assistance from international law firms within our network. Nevertheless, it is very important in our eyes to keep control. On no account, LRA delegates the management of claims, whether major or simple, to external law firms or any other form of claims management services providers.

Read more Hide
Sophie Moysan
Chief Claims & Legal Officer

Risk & Compliance

We strive to remain fully compliant and secure our underwriting and our portfolio.

As an intermediary, REUNION AERIENNE & SPATIALE has legal obligations towards its insurers who give the pen to underwrite aviation and space business on their behalf. One of these obligations is to be totally compliant with the Solvency 2 regulation, especially as an outsourcer for the insurers.

To fulfill the Solvency 2 requirements an internal control process is launched twice a year. The incidents are reported to monitor and reduce the risk. The results of these controls are presented to the Audit & Risk committee. Nevertheless, the control process is in movement: controls checklists are currently updated to stick to the evolution of the processes, the company and the regulation changes.

We also focus and meet compulsory obligations, regulatory and legal, regarding compliance issues, such as:
  • GDPR: General Data Protection Regulation
  • Fraud
  • IDD: Insurance Distribution Directive
  • LCB-FTL: Anti-Money Laundering and Counter-Terrorist Financing
  • Dispute resolution
  • Anti-Corruption: Sapin 2 law
As an illustration REUNION AERIENNE & SPATIALE has put in place written Anti-Money Laundering and Counter-Terrorist Financing procedures, to:
  • Identify high-risk situations;
  • Verify the identity of its clients through a KYC (Know your Client) process by screening through a search tool;
  • Train its employees on the subject.
In order to do all this a pool of compliance & Internal control Officers in strategic departments such as Corporate, UW, Claims and Back-office, work together, to remain fully compliant and secure REUNION AERIENNE & SPATIALE UW and its portfolio for its insurers and reinsurers.
Read more Hide
Stephanie Foata
Chief Risk & Reinsurance Officer