As part of a progressive and long-term cross-distribution partnership which was first announced in April 2023, French ICMIF member MAIF and another French mutual insurer, AG2R LA MONDIALE, have recently announced that they are expanding their collaboration to new product ranges.

These new offers complement MAIF’s range of car, motorcycle and bodily injury insurance which has been marketed by AG2R LA MONDIALE to its members since 12 April 2023 as well as AG2R LA MONDIALE’s range of occupational pensions which have also been marketed by MAIF since April.

According to the announcement on 5 October 2023, AG2R LA MONDIALE will now offer its customers home insurance as well as non-occupant landlord insurance from MAIF. Also, MAIF will now offer its members La Mondiale Partenaire’s wealth savings product with a life insurance policy and a capitalisation contract.

MAIF therefore now distributes, under its own brand:

The “MAIF Avenir Patrimoine 2” life insurance policy which is insured by La Mondiale Partenaire, which is accessible from EUR 250,000 of initial payment, the policy offers a sustainable and diversified selection of unit-linked vehicles and/or euro funds. Two management methods are available: free management and “100% SRI 2 Selection Mandate” managed management (diversified approach that combines financial expertise with that of SRI management*)

The “MAIF 2 capitalisation contract” provided by La Mondiale Partenaire: accessible from EUR 50,000 of initial payment, the contract also has two management methods – free and controlled – offering a rigorous selection of unit-linked funds and funds in euros. This contract is available to both natural and legal persons (under certain conditions).

Pascal Demurger, Chief Executive Officer of the MAIF Group said: “We are delighted with the evolution of our partnership, which is based on the complementary positioning of our two companies and our shared values. These new offers are part of a balanced and progressive partnership approach, demonstrating our ability to develop the MAIF Group’s business through meaningful collaborations. The synergy between our two groups allows us to address new audiences in a competitive market.”

AG2R LA MONDIALE now distributes:

MAIF’s home insurance covering the main risks (fire, water damage, weather events, travel assistance, school insurance, etc.). This cover consists of three formulas and six options (entry-level, modular intermediate with three possible options and high-end “all-inclusive”) including three options available regardless of the formula chosen to cover specific risks: cancellation and interruption of trips, holiday and leisure stays, home care (certified childminder, etc.) and hunting.

MAIF’s non-occupant landlord insurance covering all the specific needs of this target customer which includes:

• All-risk coverage of the property in the event of a claim as well as compensation for rents lost as a result of a claim;
• A range of dedicated services (breakdown assistance outside of claims, legal information, etc.);
• Specific legal protection.

Bruno Angle, Managing Director of AG2R LA MONDIALE said: “We are very pleased to expand our cross-distribution partnership with MAIF with these new offerings. This new step shows that thanks to our shared values, we can support our customers even better by offering them our respective products. We want to make our shared history a long-term one in order to offer our customers a complete range of products and services, combining know-how and innovation while meeting their different needs and life projects.”

At the time of the first announcement in April, the partnership was described as a balanced, long-term cross-distribution partnership which would see a gradual expansion of the offerings. The preparatory work at the time confirmed the compatibility of the corporate cultures and the desire to favour a cross-distribution partnership with four main principles:

• A pragmatic approach that makes it possible to quickly distribute first offers and build first successes together.
• A balanced partnership that builds on the respective strengths of the two Groups.
• A gradual expansion of the offers and their distribution methods.
• The desire to make a long-term commitment by prioritising quality of service from the outset

Speaking in April 2023, Pascal Demurger, MAIF said: “Our 2023-2026 strategic plan, Regeneration, aims in particular to prepare MAIF for greater intermediation in the distribution of insurance products. This new cross-distribution partnership with AG2R LA MONDIALE, a key player with whom we share common values, fully meets this objective. It will allow us to distribute our car, motorcycle and bodily injury insurance products more widely, while expanding the provident offer we offer to self-employed professionals. By collaborating with a trusted player, whose activities are complementary to ours, MAIF is pursuing its strategy of openness while preserving the quality of the service provided to its members.”

Photo shows: Bruno Angle, Managing Director of AG2R LA MONDIALE (left) and Pascal Demurger, Chief Executive Officer of the MAIF Group at the time of the initial announcement in April 2023