Ranking and market share of insurance companies in France
🇫🇷. The insurance industry in France is one of the largest in Europe, regulated by the Autorité de contrôle prudentiel et de résolution (ACPR). The French market is characterized by the prominence of bancassurance groups—insurance subsidiaries of major banks such as Crédit Agricole, BNP Paribas, and Société Générale—alongside traditional mutual insurers and stock companies. Among the latter, AXA France Assurance, the domestic subsidiary of the global AXA group, stands out as a major player across both segments: it is consistently one of the largest Life & Health insurers—and the single largest writer of Health & bodily injury premiums—while also ranking as the second-largest Property & Casualty insurer in the country. France Assureurs, the main professional federation of insurance companies in France, publishes annual rankings of the leading insurance groups by gross written premiums (GWP) from direct business, broken down into Life & Health and Property & Casualty segments.
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2024
In 2024, the French insurance market generated €283.3 billion in gross written premiums (GWP) from direct business, comprising €208.3 billion in Life & Health insurance and €75.0 billion in Property & Casualty insurance.[1] The market remains highly concentrated, with bancassurance groups and mutual insurers dominating both segments. AXA France Assurance collected a combined €26.6 billion in premiums across both segments, reinforcing its position as one of the top French insurers by total domestic volume.
Life & Health
The following table ranks the top 16 insurance groups in France by Life & Health gross written premiums for 2024. Crédit Agricole Assurances led the market with €31.5 billion in premiums and a 15.1% market share, followed by CNP (€19.9 billion, 9.5%) and BNP Paribas Cardif (€19.1 billion, 9.1%). AXA France Assurance ranked fifth with €16.7 billion (8.0%), but was the largest single writer of Health & bodily injury premiums at €5.6 billion—well ahead of all competitors in that sub-segment. The Life & capitalization segment totaled €174.9 billion, while Health & bodily injury insurance reached €33.4 billion.
| No. | Company | Life & capitalization |
Health & bodily injury |
Total Life & Health |
Market share |
|---|---|---|---|---|---|
| 1 | Crédit Agricole Assurances | 28,846 | 2,646 | 31,492 | 15.1% |
| 2 | CNP | 18,018 | 1,834 | 19,852 | 9.5% |
| 3 | BNP Paribas Cardif | 18,557 | 497 | 19,054 | 9.1% |
| 4 | Crédit Mutuel | 15,932 | 1,970 | 17,902 | 8.6% |
| 5 | Axa France Assurance | 11,167 | 5,553 | 16,720 | 8.0% |
| 6 | BPCE | 15,686 | 791 | 16,477 | 7.9% |
| 7 | Société Générale Assurances | 14,845 | 315 | 15,160 | 7.3% |
| 8 | Generali | 10,064 | 3,001 | 13,065 | 6.3% |
| 9 | Allianz | 5,127 | 2,860 | 7,987 | 3.8% |
| 10 | Groupama-Gan | 3,277 | 4,187 | 7,464 | 3.6% |
| 11 | Aéma | 6,486 | 787 | 7,273 | 3.5% |
| 12 | Swiss Life | 5,424 | 1,675 | 7,099 | 3.4% |
| 13 | Covéa (GMF-MAAF-MMA) | 3,937 | 1,354 | 5,291 | 2.5% |
| 14 | AG2R La Mondiale | 5,058 | 126 | 5,184 | 2.5% |
| 15 | MACSF | 2,183 | 308 | 2,491 | 1.2% |
| 16 | Malakoff Humanis | 744 | 1,602 | 2,346 | 1.1% |
| 17 | Others | 9,584 | 3,905 | 13,489 | 6.5% |
| Total | 174,935 | 33,411 | 208,346 | 100.0% | |
Property & Casualty
The following table ranks the top 15 insurance groups in France by Property & Casualty gross written premiums for 2024. Covéa (GMF-MAAF-MMA) held the leading position with €10.2 billion in premiums and a 13.7% market share, closely followed by AXA France Assurance (€9.9 billion, 13.2%) and Groupama-Gan (€6.8 billion, 9.1%). AXA's P&C premiums grew by 8.5% year-on-year, narrowing the gap with market leader Covéa. The total Property & Casualty market reached €75.0 billion in direct business premiums.[1]
| No. | Company | Total P&C | Market share |
|---|---|---|---|
| 1 | Covéa (GMF-MAAF-MMA) | 10,242 | 13.7% |
| 2 | AXA France Assurance | 9,929 | 13.2% |
| 3 | Groupama-Gan | 6,827 | 9.1% |
| 4 | Allianz | 5,614 | 7.5% |
| 5 | Aéma | 5,565 | 7.4% |
| 6 | Crédit Agricole Assurances | 4,654 | 6.2% |
| 7 | Maif | 3,564 | 4.8% |
| 8 | Generali | 3,299 | 4.4% |
| 9 | Crédit Mutuel | 3,072 | 4.1% |
| 10 | Sgam BTP | 2,338 | 3.1% |
| 11 | Matmut | 2,087 | 2.8% |
| 12 | BPCE | 1,928 | 2.6% |
| 13 | Chubb | 866 | 1.2% |
| 14 | CNP | 734 | 1.0% |
| 15 | Société Générale Assurances | 724 | 1.0% |
| 16 | Others | 13,558 | 18.1% |
| Total | 75,000 | 100.0% | |
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2023
In 2023, the French insurance market generated €252.8 billion in gross written premiums (GWP) from direct business, comprising €182.3 billion in Life & Health insurance and €70.5 billion in Property & Casualty insurance.[2] Bancassurance groups and mutual insurers continued to dominate the market. AXA France Assurance collected a combined €24.9 billion across both segments, making it one of the largest insurers in France by total domestic premiums.
Life & Health
The following table ranks the top 16 insurance groups in France by Life & Health gross written premiums for 2023. Crédit Agricole Assurances led the market with €27.5 billion in premiums and a 15.1% market share, followed by CNP (€18.9 billion, 10.4%) and AXA France Assurance (€15.8 billion, 8.6%). AXA ranked third overall in the Life & Health segment and was again the largest writer of Health & bodily injury premiums at €4.9 billion, ahead of Groupama-Gan (€3.7 billion). The Life & capitalization segment totaled €152.4 billion, while Health & bodily injury insurance reached €29.9 billion.[2]
| No. | Company | Life & capitalization |
Health & bodily injury |
Total Life & Health |
Market share |
|---|---|---|---|---|---|
| 1 | Crédit Agricole Assurances | 25,124 | 2,422 | 27,546 | 15.1% |
| 2 | CNP | 17,129 | 1,764 | 18,893 | 10.4% |
| 3 | Axa France Assurance | 10,843 | 4,922 | 15,765 | 8.6% |
| 4 | Crédit Mutuel | 13,918 | 1,786 | 15,704 | 8.6% |
| 5 | BNP Paribas Cardif | 14,940 | 489 | 15,429 | 8.5% |
| 6 | BPCE | 13,678 | 781 | 14,459 | 7.9% |
| 7 | Société Générale Assurances | 11,380 | 310 | 11,690 | 6.4% |
| 8 | Generali | 7,264 | 2,683 | 9,947 | 5.5% |
| 9 | Allianz | 4,560 | 2,593 | 7,153 | 3.9% |
| 10 | Aéma | 6,349 | 762 | 7,111 | 3.9% |
| 11 | Groupama-Gan | 2,930 | 3,725 | 6,655 | 3.7% |
| 12 | Swiss Life | 4,722 | 1,605 | 6,327 | 3.5% |
| 13 | AG2R La Mondiale | 4,571 | 127 | 4,698 | 2.6% |
| 14 | Covéa (GMF-MAAF-MMA) | 3,354 | 1,214 | 4,568 | 2.5% |
| 15 | MACSF | 2,383 | 288 | 2,671 | 1.5% |
| 16 | Malakoff Humanis | 736 | 1,495 | 2,231 | 1.2% |
| 17 | Autres groupes | 8,509 | 2,971 | 11,480 | 6.3% |
| Total | 152,390 | 29,937 | 182,327 | 100.0% | |
Property & Casualty
The following table ranks the top 14 insurance groups in France by Property & Casualty gross written premiums for 2023. Covéa (GMF-MAAF-MMA) held the leading position with €9.8 billion in premiums and a 13.9% market share, closely followed by AXA France Assurance (€9.2 billion, 13.0%) and Groupama-Gan (€6.6 billion, 9.3%). AXA maintained its strong second-place position in the P&C segment, with premiums growing by 7.3% compared to 2022. The total Property & Casualty market reached €70.5 billion in direct business premiums.[2]
| No. | Company | Total P&C | Market share |
|---|---|---|---|
| 1 | Covéa (GMF-MAAF-MMA) | 9,813 | 13.9% |
| 2 | AXA France Assurance | 9,154 | 13.0% |
| 3 | Groupama-Gan | 6,554 | 9.3% |
| 4 | Allianz | 5,220 | 7.4% |
| 5 | Aéma | 5,205 | 7.4% |
| 6 | Crédit Agricole Assurances | 4,301 | 6.1% |
| 7 | Maif | 3,292 | 4.7% |
| 8 | Generali | 3,177 | 4.5% |
| 9 | Crédit Mutuel | 2,848 | 4.0% |
| 10 | Sgam BTP | 2,246 | 3.2% |
| 11 | Matmut | 1,929 | 2.7% |
| 12 | BPCE | 1,893 | 2.7% |
| 13 | Chubb | 804 | 1.1% |
| 14 | Société Générale Assurances | 776 | 1.1% |
| 15 | Autres groupes | 13,294 | 18.9% |
| Total | 70,505 | 100.0% | |
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2022
In 2022, the French insurance market generated €239.7 billion in gross written premiums (GWP) from direct business, comprising €173.2 billion in Life & Health insurance and €66.4 billion in Property & Casualty insurance.[3] AXA France Assurance generated a combined €23.8 billion across both segments, ranking among the top three insurers in the country by total domestic volume.
Life & Health
The following table ranks the top 16 insurance groups in France by Life & Health gross written premiums for 2022. Crédit Agricole Assurances led the market with €24.9 billion in premiums and a 14.4% market share, followed by CNP (€16.6 billion, 9.6%) and AXA France Assurance (€15.2 billion, 8.8%). AXA was the dominant Health & bodily injury insurer with €4.6 billion in health premiums, far outpacing the next-largest health writer, Groupama-Gan (€3.5 billion). The Life & capitalization segment totaled €145.4 billion, while Health & bodily injury insurance reached €27.9 billion.[3]
| No. | Company | Life & capitalization |
Health & bodily injury |
Total life & health |
Market share |
|---|---|---|---|---|---|
| 1 | Crédit Agricole Assurances | 22,680 | 2,221 | 24,901 | 14.4% |
| 2 | CNP | 15,148 | 1,463 | 16,611 | 9.6% |
| 3 | Axa France Assurance | 10,645 | 4,588 | 15,233 | 8.8% |
| 4 | Crédit Mutuel | 13,244 | 1,672 | 14,916 | 8.6% |
| 5 | BNP Paribas Cardif | 13,756 | 460 | 14,216 | 8.2% |
| 6 | BPCE | 12,140 | 734 | 12,874 | 7.4% |
| 7 | Société Générale Assurances | 11,459 | 294 | 11,753 | 6.8% |
| 8 | Generali | 7,843 | 2,461 | 10,304 | 5.9% |
| 9 | Aéma | 7,182 | 733 | 7,915 | 4.6% |
| 10 | Allianz | 4,494 | 2,594 | 7,088 | 4.1% |
| 11 | Groupama-Gan | 3,082 | 3,547 | 6,629 | 3.8% |
| 12 | Swiss Life | 4,817 | 1,380 | 6,197 | 3.6% |
| 13 | AG2R La Mondiale | 4,525 | 126 | 4,651 | 2.7% |
| 14 | Covéa (GMF-MAAF-MMA) | 3,148 | 1,138 | 4,286 | 2.5% |
| 15 | Malakoff Humanis | 842 | 1,290 | 2,132 | 1.2% |
| 16 | MACSF | 1,471 | 271 | 1,742 | 1.0% |
| 17 | Autres groupes | 8,900 | 2,878 | 11,778 | 6.8% |
| Total | 145,376 | 27,850 | 173,226 | 100.0% | |
Property & Casualty
The following table ranks the top 14 insurance groups in France by Property & Casualty gross written premiums for 2022. Covéa (GMF-MAAF-MMA) held the leading position with €9.5 billion in premiums and a 14.2% market share, closely followed by AXA France Assurance (€8.5 billion, 12.8%) and Groupama-Gan (€6.1 billion, 9.1%). AXA held a firm second place in the P&C ranking, with a premium gap of roughly €900 million behind Covéa. The total Property & Casualty market reached €66.4 billion in direct business premiums.[3]
| No. | Company | Total P&C | Market share |
|---|---|---|---|
| 1 | Covéa (GMF-MAAF-MMA) | 9,453 | 14.2% |
| 2 | Axa France Assurance | 8,530 | 12.8% |
| 3 | Groupama-Gan | 6,053 | 9.1% |
| 4 | Allianz | 5,028 | 7.6% |
| 5 | Aéma | 4,938 | 7.4% |
| 6 | Crédit Agricole Assurances | 3,955 | 6.0% |
| 7 | Maif | 3,100 | 4.7% |
| 8 | Generali | 3,013 | 4.5% |
| 9 | Crédit Mutuel | 2,693 | 4.1% |
| 10 | Sgam BTP | 2,119 | 3.2% |
| 11 | BPCE | 1,920 | 2.9% |
| 12 | Matmut | 1,835 | 2.8% |
| 13 | Chubb | 723 | 1.1% |
| 14 | Société Générale Assurances | 699 | 1.1% |
| 15 | Autres groupes | 12,380 | 18.6% |
| Total | 66,437 | 100.0% | |
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References
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