Hugo Hirsch: You are preparing your succession after a decade at the helm of Foyer. What convinced you that Marie-Hélène Massard was the ideal person to ensure continuity and strengthen the group’s strategy? (ML): My choice is based on four criteria. First, solid experience of the Luxembourg insurance market: with eight years at Axa Luxembourg, Marie-Hélène has a perfect command of this ecosystem. Secondly, she has in-depth knowledge of international business. Marie-Hélène played a key role in the creation of Axa Wealth Insurance, which testifies to her expertise in this area. Third criterion: leadership qualities and empathy, which she has demonstrated both within the Association des compagnies d’assurances et de réassurances (Aca) and Axa. Finally, an essential element in my eyes: a perfect knowledge of and sincere attachment to Luxembourg.

After many years at Axa, why did you choose to join Foyer and take on this new challenge?

(MHM): I missed Luxembourg, and I’m delighted to be back. This country has played a central role in my career, both professionally and personally. This appointment is the culmination of an in-depth process of reflection over more than a year. I would like to extend my warmest thanks to the board of directors and management of the Foyer Group for their confidence. The transition went smoothly and naturally, a very important element for the teams, as it allows us to avoid any stop-and-go effect.

What are your ambitions for Foyer in the coming years?

MHM: I often say to the new team that if we manage to do as well as the previous team over the next 15 years, it will already be a great achievement. We are fortunate to be operating within a company that is in excellent health, which leaves us free to take our destiny into our own hands. Today it’s too early to share specific plans, but the aim is to cultivate this dynamic of continuous improvement and innovation, so that we always stay one step ahead.

The Foyer Group has continued to diversify in recent years. Why is this important?

ML: Diversifying always makes sense: it allows us to take the hardest knocks at a time when things are going a little less well. Luxembourg remains our main market, but since its creation, Foyer has always had the desire to look beyond its borders.

What role will international expansion play in Foyer’s strategy over the next few years?

MHM: I think the most important thing is to complete the projects we have already started. Even in Luxembourg, we still have customer segments where we want to make progress, particularly with businesses, professionals and the self-employed, by enhancing our current offering. Our aim is not to spread ourselves too thin. Foyer has always had the rigour to concentrate its energy where it believes in its potential and to see things through to the end. This is the line we will continue to follow. For all that, the group is and will remain attentive to opportunities that arise.

Adaptation is also a key factor. I’ve known a world with and without the internet. Today, it’s unthinkable to do without it.

Marie-Hélène Massard, CEO of Foyer Group starting 1 May

How important is digitalisation in the insurance sector?

ML: We have always seen digitalisation as a major challenge. But we are also convinced that the personal relationship we have with our customers is just as important. We have never tried to choose one or the other, but always both. We have therefore digitalised our interactions with our agents as much as possible to enable them to offer human contact where the customer really needs it. We have always had emotion as the judge of peace: in the event of a major claim, no one wants to fill in a 35-question form, but prefers human contact with an agent capable of taking charge of the situation.

How do you perceive the rapid evolution of artificial intelligence?

MHM: At Foyer, we were lucky enough to become interested in artificial intelligence very early on. We’re still in an observation phase, which is essential, because we can see that it’s evolving very quickly. We need to remain vigilant and distinguish between fads and underlying trends. We currently have around fifteen people working full-time on data and AI. In this field, it is impossible to move forward alone: cooperation with other players is essential if we are to keep pace. The main challenge now is to industrialise these advances, because that requires substantial investment.

Adaptation is also a key factor. I’ve known a world with and without the Internet. Today it’s unthinkable to do without it. It will be the same with AI, which will require a learning phase not only for our employees, but also for our customers. Our aim is to leave no one by the wayside.

Are new risks emerging as a result of this technological transformation?

ML: This technological change will lead to the emergence of new risks, whilst others will disappear. It is the insurer’s role to identify, assess and anticipate these risks in order to offer solutions tailored to customer expectations. But some well-known risks are still insufficiently addressed by public policy in Luxembourg. They represent both challenges and opportunities for insurers.

Is one of these challenges the ageing of the population?

ML: Indeed, insurers will not be the only solution, but will be part of the solution for future societal problems. Our social security system is reaching its limits and it is becoming necessary to encourage individual provision, particularly for those who are financially well-off and not by the community. I believe there is a societal obligation to ensure that everyone can live after retirement.

MHM: Nobody wants to talk about retirement in the middle of their working life, even if the younger generations are becoming increasingly aware that it’s a subject you have to deal with for the rest of your life. A lot of things have to be taken care of individually. I think it’s fundamental that we strengthen the financial culture.

I am convinced that diversity is an asset, not only for our company, but also, more generally, for society.

Marc Lauer, CEO, Foyer Group

Are you seeing an increase in requests regarding retirement, particularly due to the current economic climate?

MHM: Apart from tax incentives, not enough. It’s human nature: as long as we’re not up against the wall, we put off the problem until tomorrow.

What other risks will predominate in the years to come?

MHM: Some risks, which have now been well identified, are likely to get worse. Natural disasters, for example, are becoming more and more frequent: what used to happen statistically every twenty years now happens every four or five years, with much higher costs.

Another risk that until now seemed purely theoretical was that of pandemics. Since the covid crisis, we now know that such a scenario can occur. Anything can happen, and whilst it’s impossible to predict future crises with any certainty, our role is to make sure we're ready to deal with them.

What role does Foyer play in the face of environmental degradation?

MHM: What I find interesting at Foyer is that many initiatives come directly from employees. We have working groups on solidarity, both in Luxembourg and internationally, and on integrating corporate social responsibility (CSR) into our activities.

From a logistical point of view, we have analysed several aspects, particularly those relating to our buildings. We’ve installed solar panels, as well as beehives on our roofs. That’s why we don't open the windows here! Our aim is to support the ecological transition.

You are one of the few women to head a major financial group in Luxembourg. What message would you like to send to women who aspire to management positions?

MHM: The situation has improved compared to a few years ago. When I arrived in 2012, there were only two women running an insurance company in Luxembourg, and I was the only one on the Aca board.

In preparing this interview with Marc, I told him that if there was a question about diversity, it was up to him to answer it. Because it’s not about convincing women: they’re already convinced. The most important thing is for men to bear witness and say that for them too, gender diversity is a given, and that a balanced world between men and women is a better, more successful world.

ML: When people talk to me about diversity, I think of my children. I have a son and a daughter, and I ask myself: “What would justify my daughter not having the same opportunities as my son?” That’s my personal driving force. I’m convinced that diversity is an asset, not only for our company, but also, more generally, for society.

What, in your opinion, are the three values that best represent Foyer?

ML: Trust is the value of excellence. If our customers don’t trust us, we can’t do our job. If our employees don't trust us, we won’t be able to offer our customers a quality service. Trust is the foundation of our business. Second, innovation. We need it all the time, but it’s also something we enjoy immensely. The number of ideas we develop that bring value to the company and satisfaction to our employees is really great. Finally, independence. We are an independent family group, and that means a lot to us.

MHM: I would highlight the entrepreneurial spirit. It’s the ability to reinvent ourselves: our group is over 100 years old, and Foyer couldn’t have achieved this level of longevity without knowing how to evolve. Second, team spirit. Here I’ve discovered committed, expert and very open-minded employees, who really enjoy sharing and working together. And then I agree with Marc about trust. It’s the foundation of our business and it has to be established at every level.

How would you sum up your time at the helm of Foyer and what are your plans for the future?

ML: I feel immense pride in all that has been achieved and deep gratitude to my colleagues, who have given me the opportunity and the means to undertake. At the same time, I will continue to fulfil my role within Aca. I also hope to finally be able to take advantage of something that I’ve missed over the last ten or even 20 years: time. Time to travel more, to spend more time with my family and friends... and to play golf.

Marie-Hélène Massard’s career path

Education: statistics engineer, master's degree in information systems and management control

1996: starts her career with Axa in Paris.

2008: expatriated to Warsaw, she joins the executive committee of the Polish subsidiary as head of marketing for central and eastern Europe, Then, she becomes director of the individual/SME business, and finally, director of distribution.

2012: appointed CEO and managing director of Axa Luxembourg.

2016: takes over as head of Axa Wealth Europe

2016 - 2018: president of the Association of Insurance and Reinsurance Companies (Aca)

2020 - 2024: returns to France with Axa

1 May 2024: joins the Foyer Group as deputy CEO

Mini biography of Marc Lauer

Date of birth: 16 January 1965

May 2004: joins the Foyer Group as chief operating officer (COO)

April 2014: becomes CEO of Foyer

Note: Marc Lauer will step down as CEO of Foyer at the end of the annual general meeting on 15 April. He is being considered for the position of chairman of the board.

This article was written in for the  of Paperjam magazine, published on 26 March. The content is produced exclusively for the magazine. It is published on the site to contribute to the full Paperjam archive. .

Is your company a member of Paperjam Club? You can request a subscription in your name. Let us know via