Aéma Acquires Aviva France
Recently formed French mutual insurance carrier Aéma in October 2021 announced it has completed the acquisition of Aviva’s French operations. As a result, the company now ranks #5 among French insurance carriers.
British seller Aviva plc received EUR 3.2 billion in cash for the sale of Aviva France, including its life, non-life, and asset management businesses.
Aéma Groupe was launched in January 2021 by mutuals Macif and Aésio Mutuelle, the combination already being the #1 French mutual protection group. The new group that includes Aviva France has around 11 million customers, 18 000 employees, and (unaudited) gross written premiums (GWP) of EUR 14.5bn, including EUR 3bn in life and health insurance; 5bn in non-life; and 6.5bn in savings. The balance sheet shows EUR 195bn in assets under management (AUM).
As part of Aéma, Aviva France contributes 6bn to total GWP, 5bn to savings, and 115bn to AUM. For the record, Aviva France’s former names include Abeille-Paix and Groupe Victoire. The latter was acquired in 1994 by UK-headquartered insurer Commercial Union, which changed its name in 2002 to Aviva.