Generali has been active in France since 1831 with one of the Group’s first foreign branches.
Data at 31.12.2020. The indicated market shares and ranking, based on written premiums, refer to the most recent official data.
|Gross written premium||€ 12,659 mln|
|Total operating result||€ 861 mln|
|Life market share||5.1%|
|P&C market share||4.7%|
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 sales people, 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.
In 2020 the Group has pursued its strategic initiatives in France within the framework of “Excellence 2022” project, which provides with various actions to rationalize and transform the company’s activities over a three-year period.
In February 2020 Generali and Klesia announced the reinforcement of their strategic reinsurance partnership, which materialized in July 2020 with the announcement of the creation of the entity Klesia SA, and from September 2020 with the presentation of an innovative multi-brand offer adapted to the needs of their respective clients. The objective of the partnership is to become one of the top five key players of the collective insurance market in France.
Klesia is a Protection and Health group specialized in collective insurance with a wide presence all over France’s territory, particularly towards professionals of the services industries. It accounts for 3,200 employees, 300,000 client companies, 3.6 million covered people, and a global turnover of 10.9 billion euros.
Of course, 2020 was marked by the global pandemic crisis. The teams of Generali France have remained and remain mobilized all around the country on behalf of its customers. Employees and distribution networks continued to work remotely, despite the difficult conditions. As a responsible company, Generali France has gone further by taking measures to support the economy, the healthcare of workers and its customers facing difficulties. The company has made a significant donation to the Fédération Hospitalière de France (FHC), which represents 1,000 hospitals, in order to participate to emergency needs for the care of patients with Covid-19. Generali France also contributed to the national solidarity fund to support the self-employed and entrepreneurs affected by the crisis. Many other initiatives have been taken to meet the needs of its clients in this very particular context:
- A non-for-profit offer called “Generali Covid Protection Salariés”, has been launched for companies whose employees are going through Covid-19. It includes insurance and assistance guarantees such as daily compensation in the event of hospitalisation and assistance services at home for the recovering clients and their families.
- Actions were taken for the sectors most affected by the crisis: tourism, hotels, restaurants. Generali France thus proposes an insurance specially dedicated to these sectors and adapted to the context of the Covid-19 crisis.
- “Mon Rebond Pro” launched at the end of 2020, is a free support service to help entrepreneurs or business leaders overcome the difficulties associated with the crisis (psychological support, help to rebuild a project in case of bankruptcy, etc.)
Despite the context, Generali France showed its resilience with better results than other market players. The global communication campaign launched in 2020, with the signature “We are here for you” shows the company unfailing commitment to its customers, particularly in these difficult times. Generali France is resolutely looking for the future by offering new products in line with the evolution of the society.
At the end of 2020, the company launched the fund “Generali à impact” which is part of the dynamic of the impact investment and solidarity funds market. This is only the first step, because from the beginning of 2021, Generali France will offer investment solutions to finance the economic recovery.
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)