The Sanctions Committee of the ACPR has announced that, in a decision dated May 13, it issued a reprimand and a 20 million euro fine against Société Générale, acting in its capacity as an insurance intermediary.
Firstly, Société Générale is accused of failing to comply with pre-contractual information obligations and the duty to provide advice required of it as a distributor of the 'Mon Assurance au Quotidien' insurance policy.
Since its launch in 2018, the bank's 'Sobrio' bundled service package automatically included enrollment in this collective non-life insurance policy, underwritten by its subsidiary Sogessur.
In this regard, the Committee considered that these obligations applied regardless of the legal classification given to the contract by Société Générale and Sogessur, or the fact that it was distributed as part of a bundled service offering.
Secondly, the regulator penalized 'failings by Société Générale in its duty to provide advice and its obligation to act in the best interests of its clients' during the marketing of several policies sold independently of the 'Sobrio' offer.
Société Générale is one of the largest French banking groups. Net interest income breaks down by activity as follows:
- financing and investment banking (37.7%): specialized financing (for acquisitions, projects, etc.), activity on the stock, interest rate, currency exchange, and raw material markets, brokerage operations, merger-acquisition consulting, commercial banking activities, etc.;
- retail banking in France (33.4%; SG). The group also develops asset management and private banking activities (EUR 137 billion in assets under management in 2025), and provides insurance services, online banking and online brokerage services (Boursorama Banque) as well as an economic and financial information Website (boursorama.com);
- provision of international specialized financial and insurance services (15.6%): consumer loan, leasing, management of car fleets, professional equipment financing and insurance;
- international retail banking (13.3%).
At the end of 2025, Société Générale managed EUR 519.8 billion in current deposits and EUR 454.5 billion in current credits.
Net interest income is distributed geographically as follows: France (44.4%), Europe (34.9%), the Americas (10.2%), Asia and Oceania (5.6%) and Africa (4.9%).
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