MAIF creates reinsurance subsidiary

French insurer MAIF has established MAIF Reinsurance, a France-based subsidiary with €145 million in equity that will begin operations on January 1, 2027.

Approved by the French Prudential Control and Resolution Authority (ACPR), the subsidiary will pool a portion of the risks across the group’s businesses, complementing its external reinsurance arrangements. It will be able to serve all group entities, including SMACL Assurances, Altima and MAIF VIE.

MAIF said the move responds to changing insurance risks, including more extreme weather events, and potential fluctuations in reinsurance pricing and capacity.

Luc Delage, deputy CEO of MAIF Group, will also serve as CEO of MAIF Reinsurance. The group said proposed changes to equalization provisions in France’s Finance Bill, if adopted, would facilitate the subsidiary’s operations.

MAIF serves more than 4 million members and reported revenue of nearly €6 billion in 2025.