A leading player in the French benefits industry, life and health insurance carrier Malakoff Médéric (MM), which operates as a non-profit, jointly-managed mutual group, in September 2016 announced it would combine its teams with those of its wholly-owned subsidiary Quatrem. Reasons cited include the “impact of Solvency 2” as well as operational and commercial synergies.

Quatrem was essentially Malakoff Médéric’s brokerage unit and wrote group business only, representing approximately 50% of consolidated sales. The group now includes a new “Malakoff Médéric Courtage” (Malakoff Médéric Brokerage) division dedicated to brokers. Joint stock company Quatrem lives on as a licensed insurance carrier that can be used by the Malakoff Médéric Courtage team along with the group’s other legal entities.

The new combination targets a 15% market share by 2020. Malakoff Médéric has developed and sells an advanced range of integrated well-being services under the name of “Entreprise Territoire de Santé” (The Corporation as a Health Zone) that will gradually be made available to all Malakoff Médéric Courtage clients.

In the global employee benefits and global mobility market, Quatrem and Malakoff Médéric were already active with expat life and health products. Quatrem was the French partner of the AIG GBN pooling network as well as one of its owners, and one of the French partners of the IGP pooling network. These roles are now assumed the Malakoff Médéric Courtage.