Professional secrecy is the cornerstone of Luxembourg law. It applies to insurance companies, and also to wealth management establishments, banks, etc.

All participants within the Luxembourg insurance sector are subject to professional secrecy in order to preserve client privacy. The law obliges life insurance companies and their employees "to keep secret all confidential information entrusted to them in the context of their professional activity".

Any breach of this duty of secrecy can lead to penal consequences as well as regulatory sanctions.

All employees of Baloise Vie Luxembourg S.A. are fully aware of and responsible for complying with the duty of secrecy and to show themselves vigilant on a daily basis as to any possibility of secrecy being compromised by the parties involved in managing a policy.

However, the insurer's duty of secrecy is not an absolute one. Indeed, the law provides certain exceptions for which the duty of professional secrecy ceases to exist or does not exist.  Most notably to assist national and foreign authorities, among other things, in the fight against money laundering and the financing of terrorism, but also in the context of the impending automatic exchange of information (from 1 January 2017 as regards data on life insurance policies from 1 January 2016).