Our history
Assurances Mutuelles de France, the oldest of our founding mutuals, was created in year 1819. Today, Covéa is a European leader in property and casualty insurance.
The first mutuals
During the 19th century and in the first half of the 20th century, mutual societies shaped the insurance sector in France. From that era, Covéa has inherited three powerful and recognised brands, with values that are firmly rooted in the Group’s culture: commitment, prudence and long-term vision.
1819
Creation of Assurances Mutuelles de France.
1828
Creation of MMA.
1934
Creation of GMF.
1950
Creation of MAAF.
International development and diversification
The second half of the 20th century was marked by the expansion of the three mutual societies throughout France. They also expanded internationally, by establishing or developing subsidiaries.
1958
MMA established Norman Insurance, which later became Covéa Insurance, in the United Kingdom.
1981
GMF bought a stake in CSE in the USA. It subsequently acquired 100% of the capital.
2011
Covéa bought 81% of Bipiemme Vita in Italy.
The union
In 2003, MAAF, MMA and GMF decided to join forces, setting up SGAM Covéa. As the first SGAM (société de groupe d’assurance mutuelle or mutual insurance group company) to be created in France, it introduced cross-support mechanisms and developed a common strategy. The founding of Covéa Coopérations in 2012 sealed the merger of their financial power and operational capabilities, and in 2017, the Group unified the employment status of all its employees in France.
2003 to 2005
SGAM Covéa was formed, comprising MAAF, MMA and AM-GMF.
2012
The holding company Covéa Coopérations was formed.
2015
Covéa Coopérations became a regulated reinsurance company.
2017
The status of employees working for all Group entities was harmonised.
Development in the reinsurance sector
Covéa anticipates changes in the global insurance industry by spreading out in the reinsurance sector. It gives access to enhanced diversification in terms of product range, business lines and geographies in which the group operates, thus strengthening its position across the entire risk management value chain.
2022
Covéa acquires PartnerRe, a leading franchise in reinsurance.
