An association founded to bring together mutual aid organizations
The AAM—Association of Mutual Insurers—was founded in 2016, driven by the desire to bring together as many mutual insurers as possible under a common voice. In an increasingly complex regulatory environment and a rapidly changing industry, it had become crucial to unite this community to strengthen its influence and visibility.
The goal is clear: to enable mutual insurers to play a full role in the sector’s representative bodies by speaking with consistency, unity, and strength.
AAM and France Assureurs:
A Shared Destiny
A Strategic Alliance
The Association of Mutual Insurers was founded on May 18, 2016, enabling this segment of the insurance industry to exert its full influence within the French Insurance Federation, which was established in July 2016 and became France Assureurs in 2022.
This creation is the culmination of a movement initiated by:
- GEMA (Association of Mutual Insurance Companies),
- The FFSAM (French Federation of Mutual Insurance Companies),
Both are eager to create a unified federation bringing together all insurers subject to the Insurance Code, including mutual insurance companies.
Simplifying the Professional Landscape
France Assureurs now brings together the three categories of insurers subject to the Insurance Code, namely:
- the AAM, which represents virtually all mutual insurers in France,
- the G11—the French association of “bank-insurers,”
- the FFSAA – French Federation of Public Limited Insurance Companies.
The Urgency of Coming Together
The AAM’s founding charter outlines its guiding principles. The AAM was founded on the belief that mutual insurers uphold values, governance practices, and a unique perspective that are distinct to them, while remaining consistent with the principles that govern the insurance industry.
Given the fragmentation of representative bodies, as well as the flood of regulations at the national, European, and international levels and the wide-ranging changes facing the insurance industry, it became essential to create an entity dedicated to mutual insurance companies—one capable of representing them, supporting them, and promoting their business model and unique characteristics.
Thierry Martel, President of the AAM
The AAM’s Institutional Influence
Addressing today’s challenges requires fostering an ongoing dialogue to bridge the various perspectives within the mutual insurance sector. The AAM plays this strategic role while maintaining an ongoing exchange with France Assureurs.
This weight is concrete:
Of the 23 members of the Executive Board of France Assureurs, 9 are from the AAM.
This presence reflects the importance of mutual insurers in the sector’s governance and in decisions that shape the industry.
Mutual insurance:
a recognized model
A model based on cohesion
The mutual insurance company is based on:
- • solidarity in the face of risks,
- • long-term management,
- • decisions made without pressure from shareholders,
- • the long-term protection of members.
“The primary economic characteristic of mutual insurance is that it has no shareholders to compensate.”
A powerful model in France
For example, mutual insurance companies hold:
46% of the French market for personal property and casualty insurance.
Their democratic governance (“one member, one vote”) appeals to the French and Europeans, who value transparency, community engagement, and purpose.
The AAM thus positions itself as the natural partner of mutual insurance companies, capable of:
- to bring them together and promote their interests,
- build relationships to foster synergies,
- give new energy to their initiatives.
Confirmed Global Leadership
According to the ICMIF (International Cooperative and Mutual Insurance Federation), of which the AAM is a member, mutual and cooperative insurance companies are experiencing remarkable growth.
The numbers speak for themselves:
France is the world’s third-largest market: mutual insurers account for 54.96% of the French market share.
A rapidly growing model
Globally, the market share of mutual and cooperative insurance in 2022 was 26.3%, with growth of nearly 42% between 2012 and 2022.
Europe accounts for nearly one-third of this global market (32.96%).
This trend confirms the validity of a model that combines stability, economic performance, and social responsibility.