French insurer AG2R La Mondiale to launch in UK
AG2R La Mondiale, the giant French insurer, is about to launch in the UK through its Luxembourg-listed international wealth management division La Mondiale Europartner.
With more than €57bn assets under management, AG2R group covers the full range of social protection and property insurance needs and assures the protection of more than 8 million policy holders and beneficiaries in France. One in four French businesses is a member of the personal insurance company.
Jointly owned by La Mondiale (65%) and AEGON Group (35%) through La Mondiale Participation, the international division La Mondiale Europartner (LMEP) has more than €4bn in assets under management and a new business inflow exceeding €1bn according to a 2011 statement by the firm. LMEP is authorised by the Compagnies aux Assurances to act in several EU countries such as France, Spain, Italy, Portugal, Luxembourg, Belgium and the United Kingdom.
After registering a consistent rise of its gross premium income for 2010, AG2R La Mondiale group had been rated A- and classified as a strong and stable company by rating agency Standard & Poor’s.
According to the European Insurance and Occupational Pensions Authority, France is the second most important place on the European market for insurance business just after the UK.