Aviva France is now owned by French mutual insurer Aéma Groupe, whose €3.2 billion (around CA$4.7 billion) swoop has received the required authorizations.
The acquired business will be led by new Aviva France chief executive Philippe-Michel Labrosse and chair Jean-Philippe Dogneton. They were appointed by Aviva France’s new board of directors.
“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,” said Labrosse, who brings three decades of insurance and investment advisory experience to the top post.
The chair of Aviva France, meanwhile, is Aéma’s assistant managing director. Dogneton is also the managing director of Macif, the company that merged with Aésio Mutuelle last year to form Aéma. The wider mutual protection group was launched in January 2021.
Dogneton commented: “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.”
It was noted that the arrival of Aviva France places Aéma, which now has more than 11 million policyholders, in fifth position in the French insurance industry.
“We are very proud to welcome this fine company as the third pillar of Aéma Groupe, alongside Macif and Aésio,” stated Aéma chair Pascal Michard. “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.”
Gradually, according to Aéma, Aviva France will be rebranded.
Aviva Plc boss Amanda Blanc had this to say: “This is a very significant step forward for Aviva. It greatly simplifies the company as we focus on our core businesses in the UK, Ireland, and Canada. I am confident that Aéma, with its strong insurance heritage and reputation, will be an excellent owner of Aviva France. I wish the business and all its people every success for the future.”