Key dates for the Covéa group
| 2002 |
A new structure comes into being under French law, the Mutual Insurance Group Company (SGAM), which offers stakeholders in the social economy a tailored tool for organising alliances. This new legal foundation enables mutual insurance companies to develop their business on a level playing field with their competitors. |
| 2003 |
MAAF Assurances and MMA are the first to take advantage of this opportunity. Under the chairmanship of Jean-Claude Seys, they establish the Covéa SGAM, a group which promotes and organises mutually beneficial relations which are both solid and sustainable. |
| 2004 |
After Covéa Fleet and Covéa Risks, Covéa sets up two new partnerships from the portfolios and experience of each mutual insurance company: Covéa AIS (claims management) and Novéa (non-standard auto risks). |
| 2005 |
A decisive moment takes place in the construction of a leading mutual insurance group: concrete steps are taken toward the membership of AZUR-GMF, on the initiative of Chairman-managing director Thierry Derez.
Covéa's erned premiums increase to 11 billion euros, covering nearly 10 million policyholders and making it the leader in property and liability insurance in France. This critical size enables the Group to approach the future with confidence and conceive new forms of coopperation for the benefit to the three brands as well as their insured members and customers. |
| 2006 |
In order to effectively apply its principles and policies, Covéa is organised into cross-functional units: General secretariat, Account Combination, Legal Protection, Finance, Information Systems, Claims management, etc.
Covéa Finance (asset management) and Covéa Caution (financial gurarantees) are created.
Merger of MMA and AZUR, under the MMA brand name |
| 2008 |
Thierry Derez, Chairman and Managing Director of GMF and MAAF and Chairman of MMA, becomes Chairman and Managing Director of Covéa. Jean-Claude Seys, Vice-Chairman and Board member, continues to advise the Group he was instrumental in creating. |
|
