French mutual insurer Macif, part of ICMIF member Aéma Groupe, has finalised the acquisition of the third largest French player in the windscreen repair and replacement market, Mondial Pare-Brise. With this acquisition, Macif says it is demonstrating its commitment to good quality relationships with its member policyholders and their purchasing power.
Having obtained the approval of the competition authorities, Macif finalised the acquisition of Mondial Pare-Brise on 10 February 2023 for EUR 103 million. With a national network of 806 sales outlets (113 branches, 260 franchisees and 433 relay points), Mondial Pare-Brise, the third largest national player in its field, is known for its competitive prices, extensive coverage and recognised quality of service. The company has more than 400 employees (1,200 including the franchise network) and has achieved a turnover of EUR 146 million in 2022 including the results of the franchises.
By positioning itself on the repair market, and more specifically the glass repair market, Macif, the leading car insurance company in France in terms of the number of contracts, says it is responding to a critical issue for both insurers and their customers. Indeed, the inflation of repair costs for glass breakage is having an impact on insurance premiums and ultimately weighs on the purchasing power of the French.
With the acquisition of Mondial Pare-Brise, Macif has become the first French insurer to acquire a car glass repair and replacement network. This is a major lever for controlling the value chain in the automotive after-sales sector and thus acting against the rise in the cost of repairs and, consequently, in car insurance rates. Mondial Pare-Brise positions itself as being a “friend of insurers and policyholders” and Macif believes this further demonstrates its commitment to improving the purchasing power, in an open model, of its members and motorists in general.
Macif says this acquisition reinforces the mutual’s strategic ambition to establish itself as a key player in the mobility ecosystem and it, again, reveals the “disruptive DNA of Macif”, a popular brand with the French* which, since its creation, has always shown a desire to act in the general interest.
For its part, Mondial Pare-Brise will retain its commercial and management autonomy and continue its open growth model, in partnership with other insurers. The structure will benefit from Macif’s support to accelerate its growth and carry out its development strategy. This collaboration is all the more relevant as its business model, based on proximity, quality of service and performance, is in perfect harmony with Macif’s values.
Jean-Philippe Dogneton, Managing Director of Macif, said: “Macif is the leading car insurer in France and, as the leader, has a duty to take up positions in its market. The average cost of glass breakage claims has been increasing by 6% per year since 2015. It was important for an insurer to take the initiative to act, to make a difference through its choices in action and in speaking out. The launch of Mondial Pare-Brise, a company that declares itself to be “the friend of insurers and policyholders”, with recognised expertise and, like Macif, a commitment to proximity and relationships, is an opportunity that we have seized. This acquisition is a concrete action in favour of fair and accessible insurance rates over the long term, and reinforces our position in the mobility ecosystem.”
Stéphane Antiglio, Chairman of PHE, said: “I would like to thank the teams for their work and commitment in the modernisation and development of Mondial Pare-Brise since 2017 to make it a major player in sustainable and affordable mobility. We have every confidence in Macif’s project to continue this dynamic. By joining Macif, Mondial Pare-Brise maintains its position as a partner of insurers and will have the opportunity to continue its growth within a company that is a reference in the mobility ecosystem, in line with its corporate culture.”
This transaction has been favourably received by the staff bodies of the mutual insurer and Mondial Pare-Brise, and was approved by the various supervisory authorities to which the project was submitted. The acquisition, financed by the company’s own funds, is effective as of today, 13 February 2023.
Macif has been affiliated to Aéma Groupe, a mutualist protection group, since January 2021. Born from the alliance between Aésio and Macif, Aéma Groupe is one of the leading mutual insurance companies in France, with 11 million policyholders protected thanks to the completeness of its offers. Aéma Groupe embodies an entrepreneurial, modern and open mutualist model and is focused on action and commitment to best meet all protection needs.
* Etude réalisée du 12 au 13 janvier 2022 par La Marque Préférée des Français auprès de 1 022 répondants représentatifs de la population Française – terrain réalisé par OpinionWay – dans la catégorie Compagnies d’assurance.
