Aéma Groupe Concludes the Acquisition of Aviva France, Becoming One of the Top 5 French Insurers
On 30 September 2021, Aéma Groupe acquired Aviva France, after obtaining the necessary authorisations from the regulatory authorities. This large-scale operation places Aéma Groupe in the 5th position of the French insurance industry. It concretises the original ambition of Macif and Aésio Mutuelle, founders of Aéma Groupe, to build a leading mutual insurance group that now protects over 11 million French people.
‘The creation of Aéma Groupe was the culmination of the ambition of two companies, Aésio Mutuelle and Macif, to join forces to build a large-scale mutual insurance group capable of offering the broadest possible protection to its policyholders, both today and tomorrow. The acquisition of Aviva France is the first phase in this process. This transaction, which was completed in less than a year and ahead of schedule, demonstrates our ability to build a strong and innovative player that meets the growing needs of society as a whole’. - Adrien Couret - Managing Director of Aéma Groupe.
An acquisition that confirms the relevance of the Aéma Groupe model
Thanks to its economic significance and strategic importance, this transaction brings Aviva France under the French mutual insurance umbrella. Aéma Groupe thereby demonstrates its ability to expand and serve a wider range of policyholders (individuals, professionals, self-employed persons, companies) with a comprehensive range of solutions. This multi-brand, multi-network, multi-business group is strengthening its positions in all areas of insurance thanks to its complementary expertise. As a resolutely mutualist group, it will also make the voice of its members and customers heard in the public debate on social issues relating to protection and retirement.
‘We are very proud to welcome this fine company as the third pillar of Aéma Groupe, alongside Macif and Aésio. With Aviva France, we are creating a leading French mutual insurance group. From now on, Aviva France, supported by its 4,500 employees, will keep growing within our common structure. It will accomplish this while retaining its identity and its specific characteristics, with the same determination to provide increasingly relevant and sustainable insurance solutions to its 3 million policyholders, including the 760,000 members of AFER’. - Pascal Michard, Chairperson of Aéma Groupe.
New management for Aviva France
Following the acquisition, Aviva France has formed its new board of directors, which has appointed Jean-Philippe Dogneton as Chairperson and Philippe-Michel Labrosse as Chief Executive Officer of Aviva France.
‘In addition to enriching our diversity, the arrival of Aviva France within our group will enhance our diversity and gives us new responsibilities vis-à-vis the policyholders, the members and the clients we deal with on a daily basis. This acquisition will enhance the synergies of skills and expertise and the mutual know-how to enrich our offers and services. We are extremely proud and happy to welcome the Aviva France teams who share our values of solidarity and commitment’. - Jean-Philippe Dogneton, Assistant Managing Director of Aéma Groupe, Managing Director of Macif and new Chairperson of Aviva France
‘ I would like to thank the Board of Directors of Aviva France for trusting me to anchor the company to Aéma Groupe, its new parent company, and to keep it on the path to success with the support of all its employees, networks and partners’. Philippe-Michel Labrosse – Managing Director of Aviva France.
Aviva France will be rebranded with a gradual roll-out.
This acquisition involved Lazard as lead M&A advisor, Credit Suisse as financing and M&A advisor, White & Case LLP as legal advisor, Kearney for strategy, EY for accounting and financial analysis, Prim'Act for actuarial services, and Fromont Briens for employment law.
- 14.5 billion euro in turnover;
- 18,000 employees;
- 11 million policyholders;
- Property & Casualty: 5 billion euro in premium income;
- Health & Personal Protection: 3 billion euro in premium income;
- Life business: 6.5 billion euro in premium income;
- Assets under management: 195 billion euro.
Leading positions in the business lines:
- 5th largest insurance company in France;
- 2nd largest player in home and car insurance;
- 3rd largest mutual group in individual and group health;
- 5th largest player in life insurance;
- 6th largest player in asset management.
About Aéma Groupe
Aéma is the mutual insurance group formed by the merger of Aésio Mutuelle and Macif.
With more than 11 million policyholders, it employs 18,000 people
and generates a turnover of 14.5 billion euros in France.
Aéma Groupe envisions a fairer and more humane world every day by making foresight a central part of the relationship with its members, policyholders and corporate clients.
Find out more: aemagroupe.fr
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