Ⓒ E+ / SDI Productions

The Covéa Group’s parent company is a SGAM (Société de Groupe d’Assurance Mutuelle), a French legal structure for a group of insurance mutuals.

It exercises dominant influence, coordinating the decisions made (including in financial affairs) by its affiliates and possessing control powers.

It establishes and maintains strong and lasting financial relationships with its affiliated entities.

The eight mutual or jointly managed insurance companies that are affiliated with Covéa SGAM are divided into the following three families:

Companies attached to MMA are:

  • MMA IARD Assurances Mutuelles,
  • MMA Vie Assurances Mutuelles,
  • Le Finistère Assurance,
  • SMI.

Companies attached to MAAF are:

  • MAAF Assurances,
  • MAAF Santé,
  • APGIS.

The company attached to AM-GMF is:

  • AM-GMF.

Some entities affiliated with Covéa SGAM hold shares in Covéa Coopérations, a reinsurance company registered in France, which directly or indirectly owns all or part of the capital that makes up the Group’s main operational companies.

Covéa Coopérations serves as the hub between Covéa SGAM’s affiliated entities and the Group’s main operational companies.

Simplified organisational chart of the Covéa Group at 31 December 2023

Operational governance of the Covéa Group

Our operational governance is ensured by the executive management, whose decision-making procedure is fuelled by the Group Management Committee.

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