A Conversation with… Hilde Vernaillen

Hilde Vernaillen is Chief Executive of P&V Group (Belgium)

Tell us about your organisation?

P&V Group is a Belgian insurance group founded back in 1907. Over the years, we have grown to be a big player in the Belgian market. Belgium is a small market, but we are number six today, offering protection to more than 1 million clients. From the beginning, our purpose has been to serve people and communities, designing insurance products that are inclusive, accessible, and socially responsible. Our purpose is to offer protection to as many people as possible by making insurance inclusive and accessible, investing in prevention, and doing this sustainably.

How do you do this?

By prioritising long-term social impact over profit. When developing and pricing products, we look at the broader needs of the population. For instance, we recently launched a product covering individual responsibility. That product includes all kinds of living arrangements: if you have refugees in your house, they are covered. If your grandmother comes to live with you, she is covered. Children remain covered even after they leave home for a period. Other insurance companies might offer those kinds of features, but as optional extras that cost more. At P&V, they are included in the basic product. Inclusivity is built into the design.

We also have structures for microinsurance that sustain projects in Belgium and abroad in developing countries, and the P&V Foundation, which works against the exclusion of young people and promotes active citizenship.

How else does P&V make an impact?

For insurers, the easiest area to make an impact is through investment. We can exclude certain investments and promote others. We are committed to the Science Based Targets Initiative goals for decarbonization, and we also integrate sustainability into our products, which is more challenging. We are working on measuring the emissions we can reduce through the risks we insure. It’s not easy, but we are committed.

Insurance is something people only really notice when they need it. You don’t want to promote yourself through people’s misfortune, but this is where you see the difference. For example, during the big floods in Belgium in 2022, we were on the ground immediately. We moved quickly to settle claims and help people rebuild. That’s when clients tell us how important the cooperative difference is.

Why did you get involved in the CM50?

During this International Year of Cooperatives, it’s important to show that it’s not only federations like the International Cooperative Alliance or Cooperatives Europe that are promoting the model. It’s also CEOs of significant co-ops all over the world. When we speak together and show successful projects across different industries, it has a much more significant impact on policymakers. 

What do you see as the ultimate aim of the group?

We want to show that the cooperative model can meet economic needs, social needs, and support the emancipation of people. There are still countries that do not allow cooperatives in certain industries. Part of our goal is to remove those barriers. Politicians of all parties want economic growth and social well-being. We need to show them that the cooperative model can contribute to both. The World Social Summit is a call to policymakers, but Doha is not an endpoint. The work must continue. 

How do cooperatives build a better world? 

By contributing to the real needs of people. Being close to communities means we can design products and services that truly match those needs. It’s about ethical products, democratic governance, and putting people before profit. Co-ops foster solidarity over competition and build communities rather than just markets. That makes what we do fairer, more resilient, and more human.