AXA ART has issued the first study on the corporate collections of artistic and patrimonial assets in France.

Under the leadership of Professor Nathalie Moureau from the Paul Valéry University in Montpellier, this study aims to analyze the connections between art, patrimonial assets and corporations.

The purpose? To gain knowledge about corporate collections in order to provide better protection for them.

"When corporations contact us about their collections, it is often an opportunity for us to establish the fact that they are not adequately insured, due to the particular nature of these artistic and patrimonial assets. As specialists, we felt it was essential to have a better understanding of this and to make efforts to help corporations gain a better awareness of how to manage the risks to which these collections are vulnerable," says Sylvie Gleises, Executive Director of AXA ART for Southern and Western Europe.

The study reveals a sector that is still in its very early stages of development and lacks cohesion. Although corporate collections all belong to the same family, they each have distinct character traits that are related to how they came to be acquired, their size and composition, how they are managed, and their evolution. They all have their origins in an encounter between art and the corporation. Nathalie Moureau categorizes them in three profiles or types, as the "Psyche" collection (reflecting the identity and the values of the corporation), the "Supercalifragilistic" collection (like Mary Poppins, the collection renews the enchantment of the corporation and enhances its production), and finally the "Parangon" collection (the ideal encounter between art and the corporation). They share a common youthfulness, which makes them vulnerable to the current context, and a relative immaturity in risk management: more than half of them are insufficiently or inadequately insured.

However, they all embody an important role: even if they are not entirely revealed or accessible, they inhabit space and they adorn space. They are very often used as an internal or external communication tool, also in the context of social responsibility. But one must not forget the positive outcomes for the world of art and patrimony: presentation at events, loans of pieces, support to artists in various forms. The ways they are used vary, and may be direct or indirect, but all collections find their place in the corporation and provide a corporate benefit, whether tangible or intangible.

A summary of the study is available here.
The full report of the study is available here.

With more than 50 years of experience and operating in 26 countries, AXA ART is a leader in art and the art of living. Key issues for managing corporate collections are enrichment, conservation, preservation, security, transport and exhibition of the assets. With the advantage of our dual competency in insurance and in art history, our specialized team members are able to provide tailor-made solutions for people in charge of collections.

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