May 08, 2017
The newly elected French president bought a financial indemnity policy from Allianz to protect against a first round disaster scenario where he failed to get more that 5% of votes.
Documents from Macron's En Marche party show that Macron acquired a guaranty limit of EUR8mn to pay back the campaigns outgoings if he didn’t get the minimum number of votes needed in the first round.
Candidates are not liable for campaign expenses if they get more than 5% of the vote. Macron is personally named as the insured on the policy with the bank loans being paid to him directly rather than En Marche. Allianz charged Macron EUR232,593 for the cover which expired on the 23rd April.
Macron ended up winning 24% of the first round votes before getting a 66.1% majority in the head to head with Le Pen.