Generali has been active in France since 1831 with one of the Group’s first foreign branches.
Data at 31.12.2021. The indicated market shares and ranking, based on written premiums, refer to the most recent official data.
|Gross written premium||€ 15,494 mln|
|Total operating result||€ 840 mln|
|Life market share||5.3%|
|P&C market share||5.7%|
The operating structure was consolidated toward the mid-2000s, when the merger of the various brands forming the Group led to the creation of one of the country’s largest insurance companies. Generali France operates with a multi-channel approach of agents, employed salespeople, brokers, financial advisors, banks, direct channels and affinity groups. The multiplicity of the distribution forms reflects the market segment served and the type of product sold, with focus always placed on the customer. Generali France boasts a leadership position in savings Life products distributed through internet and for the so-called affluent customers, just as holds true in the market of supplementary pensions for self-employed workers. The presence of professionals, SMEs and personal risks in the segments is also significant. Generali France offers a complete range of insurance solutions (health, protection, assistance, property and liability, asset savings and asset management) to more than 7.5 million people.
Like in the main geographical areas where the Group operates, in France as well, initiatives aimed at consolidating the bond of trust with customers through their lifetime were taken in the perspective of strengthening the brand and the image throughout the country.
The year 2021 continued to be marked by the global pandemic crisis. Generali France's teams continue to remain mobilized for its clients. In order to accelerate vaccination coverage for the inhabitants of the Paris region, Generali and Europ Assistance have partnered with the French Red Cross to deploy giant vaccination centers which have enabled over 120,000 people to be vaccinated.
Covid-19 has also highlighted the need to accelerate health research and to promote access to care for all. This is why in June Generali, Sanofi, Orange and Cap Gemini announced the creation of a joint company, called Future 4 Care, which aims to be a unique digital health open innovation ecosystem in Europe for the rapid development of data-driven e-health solutions for the benefit of patients and healthcare professionals. Future 4 Care includes a startup accelerator, which will open mid-2022 and an Institute for new health technologies, new uses and promotes a reference label.
The global communication campaign launched in 2020, with the tagline "We’re all about you", has continued on major media (TV, radio, online videos…) with significant progress in terms of awareness, brand preference and lead generation, which have tripled in one year. As part of this campaign, starting in October, Generali has teamed up with the Viavoice research institute and Radio Classique to launch the France 2025 barometer in order to better understand and share the concerns of the French people ahead of the presidential elections as well as their points of view on major topics: health, climate, mobility, work and aging.
The first edition of EnterPRIZE awards was launched as a part of Generali's approach to support SMEs and to recognize the most virtuous behaviors in ESG matters. More than 180 SMEs have applied. In June, the awards ceremony took place at the French Ministry of the Economy, Finance and Recovery, in the presence of the Secretary of State for the Social, Solidarity and Sustainable Economy, Olivia Grégoire. One of the French winners, Wanted, was distinguished by the European awards presented in Brussels.
At the end of November, Generali announced to be in exclusive discussions with Crédit Agricole Assurances to acquire the insurance company La Médicale, a major player among healthcare professionals in France, with 125 general agents in 45 branches, 300,000 customers and a portfolio of 600,000 policies by the end of 2020. This acquisition is a tremendous opportunity to strengthen Generali's approach to affinity targets in the medical world. The acquisition of La Médicale, which is expected to be finalized in mid-2022 after approval by the relevant regulatory authorities, will also strengthen Generali's network of general agents, which ranks 6th in the French market.
At the very end of 2021, the Group finalized the completion of its strategic plan in France, "Excellence 2022", providing for actions to streamline and transform the company's activities with great success. Among the major transformations, the implementation of the new savings model, with more diversified life insurance products, mainly oriented towards unit-linked and the real economy (private equity, infrastructure, real estate, etc.), establishing the "new generation of life insurance". The French management teams focused on formulating its new strategic plan, Performance 2024, in line with the Group's one.
Despite the context, Generali France has shown its resilience with better results than other market players and intends to continue on the path of positive transformation with its new strategic plan.
Key Events in France
1995 - Establishment of Generali France Holding
2003 - Acquisition of Continent Holding and Zurich Financial Service France
2006 - Merger of various companies (approximately 20) into 2 operating companies, Generali IARD and Gen
2015 - Merger through acquisition of E-cie Vie Legal Entity into Generali Vie Legal Entity
2018 - Beginning of "Excellence 2022" transformation plan
2020 - Reinforcement of the strategic reinsurance partnership between Generali and Klesia
MANAGER IN CHARGE
The Country Manager for France is Jean-Laurent Granier.
Main Group companies
Both operating companies are active through the following business units:
- Retail, Middle Market and Corporate (both in Life and Non Life)
- Epargne Patrimoniale and Internet (Life)
Generali Luxembourg (www.generali.lu)
Life products, Savings&Pension and Unit-linked, mainly for affluent customers
Generali Patrimoine (www.generali-patrimoine.fr)
GFA Caraibes (www.gfa-caraibes.fr )
Prudence Creole (www.prudencecreole.com)