The quality price benchmark
One of the leading general insurers in France, the MAAF mutual insurance group offers its 4.1 million policyholders and customers comprehensive property insurance solutions, healthcare coverage, annuities, and life insurance policies. MAAF has made unbeatable value for the money one of its main sales arguments. It is pursuing a fair price policy associated with optimal efficiency.
Launch of MAAF PRO, the pro quality benchmark to bolster the brand’s proximity with professionals and small businesses, and the opening of a website and a special offer dedicated to business women (www.femmesdelartisanat.com).
Milestone: life insurance makes the one billion euro mark with premium inflow reaching a record level of 9.5%, mainly due to highly proactive networks.
Launch of the new motor insurance offer including new warranties such as enhanced compensation, innovative services, and the right to accumulate bonuses ("Bonus Cumulus").
A major step forward towards group healthcare insurance when with the addition of Apgis organisation as an affiliate of Covéa, giving MAAF the keys to its own development on in this high-growth segment in 2011.
Individual healthcare partnerships with two online opticians (www.happyview.fr and www.lentilles-moins-cheres.com), in order to contain rising healthcare budgets for policyholders.
The net profit for MAAF totalled 162.4 million euros in 2011 against 134 million in 2010. This figure is in line with the average for recent years and confirms the ability of MAAF to combine growth with profitability. In 2011, investments accounted for 17.5 billion euros. The solvency ratio stood at 362% while equity reached 2.6 billion euros (+6.6%).
Key figures (at 31 december 2011)
- 4.2 billion euros in gross premiums
- 591 points of sale
- 4.1 million customers and members
- 162 million euros net income