Macif acquires Mondial Pare-Brise
French mutual insurer MACIF Group announced that it is paying €103 million to acquire windshield repair company Mondial pare-brise .
Mondial Pare-Brise has a network of 806 locations across France and it is the third largest player in the space. With the acquisition, Macif becomes the first French insurer to acquire a car glass repair and replacement network. Mondial Pare-Brise will continue to operate independently.
“Macif is the leading car insurer in France and, as the leader, has a duty to take up positions in its market. The average cost of glass breakage claims has been increasing by 6% per year since 2015. It was important for an insurer to take the initiative to act, to make a difference through its choices in action and in speaking out. The launch of Mondial Pare-Brise, a company that declares itself to be “the friend of insurers and policyholders”, with recognised expertise and, like Macif, a commitment to proximity and relationships, is an opportunity that we have seized. This acquisition is a concrete action in favour of fair and accessible insurance rates over the long term, and reinforces our position in the mobility ecosystem.” – Jean-Philippe Dogneton, managing director of Macif.