France, partial cession of MutRé’s capital

Set up in 1998, MutRé is today the second life reinsurer on the French market. It posted a turnover of 364 million EUR (442.49 million USD) and a net result worth 1.3 million EUR (1.58 million USD) in 2014. The company controls nearly 58% of the health market.

According to experts, the talks pertaining to the partial sale of the capital are currently conducted between the shareholders. Part of the 55% of MutRé’s capital is about to be ceded.

The group’s shareholding is composed of Scor (33%), Matmut (33%) while the other 14 mutuals, including FNMF, account for 18%. Some shareholders like Matmut and FNMF are keen on ceding their stakes, invoking the absence of a clear development strategy for MutRé, and referring to the fact that the reinsurer’s growth cannot be achieved unless it steps on the shoes of Scor. The latter could be pushed to gear up its presence within MutRé, unless one of its competitors makes its task difficult by acquiring the 55% of the stakes that will soon be up for grabs.