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Matmut: climate claims slash annual profit by half

2023-04-18T09:56:23.308Z


The mutual insurer Matmut announced on Tuesday that it had generated a net profit of 46.9 million euros last year, halved compared to its...


The mutual insurer Matmut announced on Tuesday that it had generated a net profit of 46.9 million euros last year, halved compared to its 2021 record, a fall linked to the increase in climatic claims.

"

The impact of what is happening in terms of global warming is completely direct on our activity

", underlined the general manager Nicolas Gomart during a press conference.

Matmut policyholders have not been spared natural disasters, the number and intensity of which have increased due to climate change.

The cost for Matmut of episodes of hail, storms and drought has tripled between 2021 and 2022, rising from 100 to 300 million euros, specifies the company.

It increases the total burden of claims by the same amount, which increased last year by 20% compared to 2021 to reach 2.3 billion euros.

At the level of the profession, the burden of natural disasters in France exceeded 10 billion euros in 2022, according to the professional federation France Assureurs, a record since 1999.

Matmut's turnover is up very slightly by 3.1% to 2.5 billion euros thanks in particular to the signing of more than 110,000 new contracts, bringing their total to 7.9 million for approximately half as many members.

Matmut's core business remains property and casualty insurance (mainly auto and home), where the insurer achieves nearly four-fifths of its turnover, far ahead of health insurance, although strengthened since January 1 with the integration of a mutual company specializing in the public service, Mgéfi, and provident savings.

The group is also in the home stretch of its strategic plan for the 2021-2023 period focused on the development of the retirement savings and professional markets.

Source: lefigaro

All business articles on 2023-04-18

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