EXCLUSIVE – Covéa-PartnerRe: an MMA member wants to counter the takeover

Posted 23 Feb. 2022 at 9:58 amUpdated Feb 23. 2022 at 12:03

An unexpected letter arrived last week on the desk of the supervisor of the insurance sector. Via a missive that “Les Echos” was able to consult, the businessman Didier Calmels asks the Prudential Control and Resolution Authority (ACPR) “not to authorize” the mutual insurer Covéa to acquire the reinsurer PartnerRe with Exor, holding company of the Agnelli family.

Announced in October and supposed to be completed “mid-2022”, after the green light from the regulatory authorities, this 9 billion dollar operation should allow the group overseeing the brands MMA, MAAF and GMF to diversify into reinsurance after several failed attempts. . In the eyes of Didier Calmels, this diversification defended by the boss of Covéa, Thierry Derez, however “undermines the mutualist model” of the company to which he is a member as a member of the mutual MMA.

Leave a Reply

Your email address will not be published. Required fields are marked *