AG2R La Mondiale and Matmut merge to form a new giant entity

The social and heritage protection body, AG2R La Mondiale, and the mutual insurer, Matmut, presented on Tuesday, January 22, 2019, the group born out of their merger, AG2R La Mondiale Matmut.

AG2R La Mondiale MatmutThe new entity, officially created on January 1, 2019, is already a leading player in French and global insurance. It would report, according to the 2017 results, 11.9 billion EUR (14.2 billion USD) of turnover in insurance and 19.2 billion EUR (23 billion USD) in supplementary pension.

André Rajasekaran, current general manager of of AG2R La Mondiale, has been appointed general manager of the new group and Nicolas Gomart, currently general manager of Matmut, deputy general manager.

This merge should help to share the costs and investments and to ensure a financial stability. It will positively impact the solvency of the group, explains Nicolas Gomart. The new leader of social protection in life and non life insurance should keep its workforce of 16000 employees unchanged.

The group should also attract, Solimut, another actor in health and retirement, on January 1, 2020. "But the reorganisation of the social protection landscape and the mutualist world is not over", said the new general manager. Other partners could join the new entity. The main candidate, the Mutuelle Générale, third French health mutual company, is still considering the issue.

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