Our history

Assurances Mutuelles de France, the oldest of our founding mutuals, was created in year 1819. Today, Covéa is the French leader in property and casualty insurance and one of the leading insurance groups in Europe.

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.


Creation of Assurances Mutuelles de France.


Creation of MMA.


Creation of GMF.


Creation of MAAF.

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.


MMA established Norman Insurance, which later became Covéa Insurance, in the United Kingdom.


GMF bought a stake in CSE in the USA. It subsequently acquired 100% of the capital.


Covéa bought 81% of Bipiemme Vita in Italy.

The union

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.

2003 to 2005

SGAM Covéa was formed, comprising MAAF, MMA and AM-GMF.


The holding company Covéa Coopérations was formed.


Covéa Coopérations became a regulated reinsurance company.


The status of employees working for all Group entities was harmonised.

Latest publications

2021 Covéa annual report

.pdf | 1 Mo


2021 Covéa SFCR - bilingual summary (English, Italian)

.pdf | 539 Ko


2021 Covéa Coopérations SFCR (French version)

.pdf | 2 Mo


Exor and Covéa sign a Definitive Agreement for the sale of PartnerRe for $9 Billion (€7.8 Billion)

.pdf | 331 Ko