The Niort based mutual insurer Maif returned to growth in 2021 and generated higher profits than before the health crisis, after a difficult year 2020 due to the pandemic, he announced Thursday in a press release.
The company’s net profit reached 155.4 million euros, more than four times more than in 2020, when it had put in place support measures to help its policyholders cope with the pandemic. It is also 22% above the profit level of 2019.
While Maif’s turnover had almost stagnated between 2019 and 2020, around 3.7 billion euros, it increased in 2021 by more than 6%, 3.93 billion euros.
Despite the health context, these historic results confirm the directions taken as part of our strategic plan, said Pascal Demurger, CEO of the group, quoted in the press release.
Maif notably benefited from the renewed enthusiasm of the French for life insurance, with nearly 30,000 new contracts and a turnover of 803.9 million euros (+ 10% compared to 2020).
In 2020, the French had shunned this product, preferring the immediately available savings of the Livret A.
The insurer also won 87,000 new contracts for its other insurance activities.
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In total, the Maif group now has almost 4 million members and members, representing growth of around 3%, he specifies.
The group has also expanded its activities by creating a joint venture with SMACL Assurances and by acquiring 82% of the e-commerce brand Camif, which specializes in sustainable furnishings, operations effective since January 2022.
Having become a company with a mission in 2020 – a provision that allows the company to integrate social and environmental objectives into its statutes – Maif intends to confirm its production dynamic in 2022 and accentuate the positive impact of its activities.