SGAM Matmut Completes Acquisition of HSBC Assurances Vie
SGAM Matmut Completes Acquisition of HSBC Assurances Vie
SGAM Matmut proudly announces the successful completion of its acquisition of 100% of the share capital of HSBC Assurances Vie (France), a prominent life insurance company. This strategic move significantly enhances SGAM Matmut's portfolio, allowing it to offer an expanded range of financial solutions including individual savings plans, retirement schemes, credit protection, and personal insurance options.
Strategic Alignment and Growth Objectives
This acquisition aligns seamlessly with the Group’s ambitious strategic plan titled 'Objectif: Impact!' for 2024-2026. Central to this plan are growth and diversification, which will significantly bolster the company’s business volume by an impressive 51%, projecting a total of €4.8 billion in earned premiums based on pro forma estimates for 2024 compared to the previous year. Life insurance is set to become one of the main pillars of SGAM Matmut's business strategy, introducing new client segments and enriching distribution networks.
Diverse Business Mix
Following the acquisition, the projected business mix for SGAM Matmut for 2024 is illustrated as follows:
- Property & Casualty: 46%
- Savings & Protection: 38%
- Health Insurance: 16%
KOREGE: A New Identity
In a significant branding shift, HSBC Assurances Vie (France) will be rebranded to KOREGE effective November 1, 2025. The new name is derived from the ancient Greek term 'chor?gía,' which conveys the idea of a united effort towards a shared goal. This transformation echoes SGAM Matmut's commitment to fostering long-lasting partnerships within its network while ensuring top-quality service for its clients.
Key Personnel Changes
As part of the new governance structure, Nicolas Gomart has been appointed as Chairman of KOREGE, while Tristan de La Fonchais steps in as the Chief Executive Officer. With an extensive history at SGAM Matmut, Tristan brings valuable experience, having previously served as Deputy CEO overseeing commercial networks and banking services. Additionally, Laurence Rogier, formerly CEO of HSBC Assurances Vie (France), will now serve as Vice-Chairwoman of the Board and will lead Strategic and Financial Coordination efforts.
Vision for the Future
Nicolas Gomart expressed his enthusiasm about this monumental step: "This marks a significant turning point in the history of Matmut Group as we advance our strategy for profitable growth and diversification. My heartfelt gratitude goes to all the team members who contributed to this initiative. We look forward to welcoming the team at KOREGE as we continue to provide premier products and services to our clients."
About Matmut Group
Matmut Group is a leading French mutual insurance company, boasting over 4.6 million members and managing 8.4 million insurance policies by the close of 2024. The Group provides a broad spectrum of insurance services catering to individuals, professionals, and businesses alike. These offerings encompass property and casualty insurance, health protection, and various savings and financial services, including life insurance and pension plans. With a workforce of 6,800 professionals, SGAM Matmut significantly contributed premium income of €3.2 billion in 2024.
SGAM Matmut is listed on Euronext Growth Paris under the ticker MATMU4.625%23FEB36.
Frequently Asked Questions
What does the acquisition of HSBC Assurances Vie mean for SGAM Matmut?
The acquisition will enhance SGAM Matmut's position in the life insurance sector, allowing for increased business volume and diversification of offerings.
What will happen to the branding of HSBC Assurances Vie?
HSBC Assurances Vie will be rebranded as KOREGE as of November 1, 2025, reflecting a new strategic direction.
Who are the key figures in the new management structure of KOREGE?
Nicolas Gomart will serve as Chairman, and Tristan de La Fonchais will be the CEO, bringing extensive experience to their roles.
How does this acquisition affect customers of SGAM Matmut?
Customers can expect enhanced services, new product offerings, and greater focus on personalized customer care.
What is the growth outlook for Matmut Group following this acquisition?
With an anticipated 51% increase in business volume, Matmut Group aims to solidify its market presence and broaden its customer base significantly.
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