MAAF Dynamics

Because of its financial and technical solidity, and despite a slight surge in accidents since the summer, MAAF has been able to keep auto insurance premiums unchanged for the sixth year in a row."
Étienne Couturier, Deputy Managing Director, MAAF

In 2009, MAAF Assurance gross premiums rose 5.3% to stand at 3.6 billion euros. The Group demonstrated dynamic commercial activity, with better performance in most of its areas of business. In its core business, auto insurance, MAAF Group registered over 117,000 additional contracts (+3.1%). It was also a record year for personal injury protection, with 107,000 multirisk home contracts (+4.3%), while professional and business contracts rose by 2.1%. Some 47,000 new healthcare insurance contracts were signed, as well as 51,000 retirement planning contracts. Finally, the amount collected for savings plans stood at a record high of 739.7 million euros.

An ambitious premiums policy
In 2009, MAAF Group's increase in gross premiums was led by life insurance, which was up by 28.6%, while the market average was +12%. Life insurance business (savings and accidental death insurance) therefore contributed 20.9% to gross premiums. Non-life insurance business enjoyed a smaller increase (+0.5%), thus reflecting the premiums concessions MAAF made for its members. For example, in auto insurance, MAAF did not increase its rates for the sixth year running. As for professional insurance, MAAF supported clients who were affected by the economic crisis by lowering its average premiums.

An effective financial strategy
In 2009, MAAF Group pursued a strategy based on its own economic analyses and forecasts, diversifying its investments and the quest for long-term performance. In a highly volatile context, MAAF Group was able to seize the various opportunities offered on both the stock markets and private bond markets. Finally the accuracy of the analyses and forecasts as well as the quality of its management allowed the MAAF Group to keep growing and conduct a controlled financial policy, while increasing equity and thus keeping our solvency indicators at a very satisfactory level.

Solid solvency
Group equity rose by 7.7% to 2.364 million euros. The solvency ratio (excluding unrealised capital gains) was up 265%. When capital gains and allowable borrowings are included, the ratio rises to 390%,against 342% at the end of 2008.

GENERATION MAAF PROGRAMME
In 2009 MAAF launched its "Generation MAAF Programme" (PGM). The label is given to all benchmark actions reflecting MAAF's commitments in terms of citizenship and social responsibility.

Key figures