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.
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.
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.
Covéa Coopérations became a regulated reinsurance company.
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.
Covéa has completed the acquisition of PartnerRe Ltd. from Exor
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2021 Covéa annual report
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2021 Covéa SFCR - bilingual summary (English, Italian)
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2021 Covéa Coopérations SFCR (French version)
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