Sale of CSE group (California) Covéa finalised the sale of the CSE group, based in California, on 2 April 2025. This fits with Covéa's goal of refocusing its international activities and making reinsurance, through PartnerRe, the main priority in developing its business outside France. The group earned €46m premiums from the US in 2024.
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First publication of Scope 3 Category 11 emissions (motor insurance claims) For 2025, Covéa for the first time estimated and published GHG emissions associated with motor insurance claims handling (damage assessments and repairs for passenger cars and utility vehicles) and assistance services under Scope 3 Category 11. This is described as an initial estimate subject to ongoing improvement.
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First publication of Transition Plan for Climate Change Mitigation Covéa published its first transition plan for climate change mitigation in 2025, covering three activities: insurance (56% sustainable repairs by end-2028), investment (25% carbon intensity reduction in equity/bond portfolio 2024-2030; 35% reduction in commercial property carbon intensity 2023-2030), and own operations (30% absolute GHG reduction 2019-2030 using SBTi methodology).
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0.5% of climate home insurance premiums dedicated to prevention Since 2025, Covéa has committed to devoting 0.5% of climate-related home insurance premiums each year to implementing climate risk prevention measures, across three pillars: technological insight, awareness & information, incentives & funding.
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New CEO Maud Petit appointed, Thierry Derez becomes Chair With effect from 1 July 2025, Maud Petit was appointed Chief Executive Officer of the Covéa Group, replacing Thierry Derez, who took on the role of Chair of the Board of Directors, replacing Michel Gougnard (appointed Vice-Chair).
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Launch of 'dynamiC' 2026-2028 strategic plan Covéa launched its new three-year strategic plan 'dynamiC' for 2026-2028, structured around three core principles (solidity, performance, development) and two engines (insurance and reinsurance). Brand ambitions include making MAAF the customer-preference leader, MMA in top 3 in each target market, GMF as No.1 insurer for public sector employees, and PartnerRe focused on portfolio diversification and underwriting discipline.
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S&P downgrades Covéa Coopérations from AA- to A+ On 24 October 2025, S&P Global Ratings lowered the long-term insurer financial strength and issuer credit rating of Covéa Coopérations and its core and guaranteed subsidiaries from AA– to A+, with a stable outlook. This followed France's sovereign rating downgrade from AA– to A+.
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Scope expansion: Category 11 insured emissions added to GHG inventory First-time inclusion of emissions from motor insurance claims handling and assistance services (Scope 3 Category 11) in the Group's carbon footprint. Estimated at 154 ktCO2e in 2025. 2024 pro forma also provided at 162 ktCO2e. This represents 1.88% of total Group GHG emissions.
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On-site solar generation and renewable electricity procurement Covéa pursues renewable energy through both on-site solar panel installations and purchased renewable electricity. Six solar installations were in service by end-2025 generating approximately 3.1 GWh annually; a new installation at the Niort site was added in 2025. The Group targets more than 4.7 GWh/year of self-generated renewable energy by end-2026. Renewable sources accounted for 18.6% of total energy consumption in 2025 (up from 16.5% in 2024), with 10,806 MWh purchased from renewable sources and 3,070 MWh self-generated. The energy sobriety plan (regulating heating/air conditioning, optimising floor space) also contributed to a 7.3% reduction in fossil fuel consumption.
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Primary: Own operations GHG reduction – 30% absolute target 2019-2030 (SBTi) For French insurance and reinsurance entities (excluding affiliates), Covéa targets a 30% absolute reduction in Scopes 1, 2 and 3 (Categories 1-7) emissions between 2019 and 2030, using the SBTi methodology. The baseline was 65,678 tCO2e in 2019; target is 45,975 tCO2e by 2030. By end-2025, 18.2% reduction had been achieved (53,726 tCO2e). Key levers include the Tertiary Eco Energy project (72 energy-saving measures in 2025), shifting company vehicles to low-emission models (54.7% reduction in vehicle/travel/freight emissions vs. 2019), enabling home-working, sustainable transport incentives, and streamlining logistics flows.
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