registration document France Telecom 2009 - Orange.com

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6 INSURANCE overview of the Group’s Business 6.9 INSURANCE France Telecom fi nances coverage of its main risks through the insurance and reinsurance market. This provides it with an insurance plan that covers the risk of damage to property (damage to assets and operating losses), civil liability risks that may arise in connection with its corporate purpose and management. This coverage also includes risks related to its main motor fl eets. Finally, there is an assistance plan for employees’ business travel or expatriation. The current insurance plan policies are regularly renegotiated in close cooperation with qualifi ed providers (brokers) chosen through a competitive selection of insurers . These measures are combined with regular monitoring of selected companies’ solvency and their fi nancial ratings, and the policies contain contractual provisions that set minimum rate requirements for the partnership. The insurance plan’s scope of application concerns the France Telecom Group, nearly all of whose revenues are covered under the corporate programs. This policy streamlines how coverage is managed, signifi cantly improves the level and reduces costs, which means signifi cant savings for the Group, and fosters the integration of new subsidiaries (Equant, Mobistar, etc.). Compared with the benchmarks available internationally, the Group’s current insurance programs refl ect France Telecom’s risks and are in line with current market offers for groups of a similar size and similar business activities, particularly concerning coverage limits. France Telecom S.A.’s cost for insurance coverage for 2009 was approximately 11.3 million euros, including 10.3 million euros in premiums (compared with around 14 million euros in 2008 and 16.3 million euros in 2007). For the 2009 fi nancial year, this amount was divided as follows, by major risk category: ■ coverage for damage to assets and operating losses: approximately 4.2 million euros; ■ liability coverage: approximately 3.5 million euros; ■ motor fl eet insurance coverage: approximately 3.6 million euros. In addition to these amounts, subsidiaries insured under corporate insurance programs bear costs related to the increase in scope covered. These costs were approximately 10 million euros in 2009 (10.7 million euros in 2008, 11.8 million euros in 2007). The risks of damage to the aerial fi xed-line network (open-wire lines and telephone poles) due to natural disasters have been self-insured since the end of 2002. Since then, the amount related to such events affecting poles and open-wire lines has not, on average, exceeded 13.5 million euros annually. In 2009, no insurance and reinsurance market players chose to cover this type of risk. In addition, in the context of its risk management policy, for several years France Telecom has regularly carried out site inspections surveys in partnership with the internal engineering departments and those of its principal insurers. This surveys program extends to the main subsidiaries in the group and is used to detect possible risks and to assess the prevention and protection levels with respect to them. These actions, which help to give its insurers more in-depth knowledge of the Group’s risks, contribute signifi cantly to insurance coverage negotiations. In parallel, other actions are taken to provide insurers with other types of information in order to round out their assessment of our scope of professional and contextual risks and to continuously ensure that the insurance coverage is in line with the company’s needs. As part of its policy, the Group Insurance department uses internal control processes (procedures and environment) to make its program management more effi cient. This process is combined with specifi c indicators that cover its disaster and production management activities. 174 2009 REGISTRATION DOCUMENT / FRANCE TELECOM
7 organizational chart The chart below shows the main operating subsidiaries and investments of France Telecom S.A. as at December 31, 2009. The holding percentages shown for each entity are the percentage of interest along with the percentage of control when these differ: France Orange France (1) 100% Orange Caraïbes (1) 100% Orange Réunion (1) 100% Orange Assistance 100% Spain FT España (1) 100% Orange Catalunya 100% Poland TP SA 49.8% TP EmiTel Subsidiary of TP SA 49.8% 100% PTK Centertel (1) Subsidiary of TP SA 49.8% 100% Wirtualna Polska Subsidiary of TP SA 49.8% 100% United Kingdom OPCS (1) 100% HTRL 100% Orange Home UK (1) 100% 7 France Telecom Mobistar 52.9% Orange Dominicana (1) 100% Sonatel Mobiles (1)(3) Subsidiary of Sonatel 42.3% 100% Jordan Telecom (1) 51% Orange Guinée (1) 35.9% 85% Orange SA Subsidiary of Mobistar 52.9% 100% Orange Romania (1) 96.8% Orange Côte d’Ivoire (1) 85% Orange Mali (1)(3) Subsidiary of Sonatel 29.7% 70.2% Sonatel IG (1)(3) 42.3% Orange Niger (1) 89.6% Orange Armenia (1)(3) 100% Rest of the World Orange Suisse (1) 100% Orange Slovensko (1) 100% Orange Cameroon (1) 99.5% Mobilecom (1) 51% 100% Orange Uganda Ltd (1) 65.9% Orange Bissau (1)(3) 38.1% 90% Orange Moldova (1) 94.3% 94.5% CI Telcom (3) 45.9% 51% Telkom Kenya (1)(3) 40% 51% Orange Botswana (1) 53.7% Orange Madagascar (1) 71.8% 97.6% Orange Centre Afrique (1) 100% ECMS 36.4% 51% Businesses Equant (1) 100% Globecast and subsidiaries 100% Network related services and subsidiaries (1) 96.3% Etrali and subsidiaries (1) 100% International Operators and Shared Services FT Marine 100% FLTD USA 100% Studio 37 (1) 100% Viaccess 100% (1) Company operating under the Orange brand. (2) France Telecom has the power to appoint the majority of the supervisory board members of TP S.A. (3) France Telecom controls the strategy committee, which makes recommendations to the Board of Directors. 2009 REGISTRATION DOCUMENT / FRANCE TELECOM 175
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egistration document France Telecom
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table of contents 8 9 10 11 12 13 1
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nota This Registration Document ser
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3 CONSOLIDATED selected financial i
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4 risk factors In addition to the o
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4 OPERATIONAL risk factors RISKS In
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4 OPERATIONAL risk factors RISKS Fi
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4 LEGAL risk factors RISKS frequent
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4 FINANCIAL risk factors RISKS Cred
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4 FINANCIAL risk factors RISKS Equi
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5 INVESTMENTS information about the
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6 THE overview of the group’s bus
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6 THE overview of the group’s bus
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6 FRANCE overview of the group’s
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6 OVERVIEW overview of the group’
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Page 180 and 181: 8 NETWORKS property, plant and equi
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11 innovation, research and develop
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14 ORGANIZATION administrative and
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14 STRUCTURE administrative and man
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14 INTERNAL administrative and mana
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14 REPORT administrative and manage
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15 RULES compensation and benefits
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15 TOTAL compensation and benefits
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15 COMPENSATION compensation and be
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17 WORKFORCE employees TRENDS The i
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17 WORKFORCE employees TRENDS Priva
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17 ORGANIZATION employees OF WORKIN
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17 employees COMPENSATION Z COMPENS
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17 employees COMPENSATION Option pl
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17 LABOUR employees RELATIONS Stock
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employees 17 TRAINING The preventio
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17 employees OUTSOURCING The amount
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18 DISTRIBUTION major shareholders
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20 NON financial information concer
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21 SHARE additional information CAP
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21 MEMORANDUM additional informatio
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26 DRAFT 2010 shareholders’ meeti
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26 REPORT 2010 shareholders’ meet
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26 STATUTORY 2010 shareholders’ m
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580 2009 REGISTRATION DOCUMENT / FR
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France Telecom Group
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