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MMA, a recovery that leaves its mark

This work has been carried out for several months with the various mutual insurance networks. “MMA is currently undergoing a technical turnaround involving mass redundancies of entire portfolios and the closure of certain product lines. The most affected sectors include construction, car workshops and association civil liability, where the measures are particularly strict.stresses a broker who works with the mutual insurance company, adding that “Agents and brokers are in the same boat and there seems to be little or no room to negotiate with the company.”

Neglected market segments

A general agent confirms this development of the discourse: ” Unlike other networks, we were used to stable policies, without the arbitrary increases seen elsewhere. But MMA told us there would be no discussions. This change is not for tomorrow, but in 2025 “, he tells us, specifying: ” we were officially informed on June 28. The network director came to the region to explain the situation to us. It’s mainly contract terminations rather than price increases.”

This recovery work carried out by MMA has a numerical explanation: the net result of MMA IARD for the year 2023 was a deficit of around 136 million euros (compared to 5 million in 2022) for a premium volume of 5.36 billion euros. Besides, his combined ratio deteriorated sharply between these two years, going from 104.5% to 108.1%.

A search for financial balance for MMA

“Since 2023, MMA has therefore worked to build a more balanced professional and business risk portfolio. The plan implemented in 2024 is a continuation of the direction from 2023.”emphasizes former MMA, contacted by Argus. Thus, the mutual confirms to have left several segments of activity, ” very specific and degraded, such as builders of individual houses in the construction sector or some sports and leisure activities » – however, given that these cases are “very special”.

MMA assures him: he intends to remain active “all the main branches of our historical activities”. And to conclude: ” MMA presented €2,611 million in premiums acquired in the professional and business markets (excluding affinity) and our forecasts for 2024 are similar, proof that our commitment to the business market is constant.”

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