What MIC Insurance does

MIC Insurance Company, S.A. is a privately held, ACPR-regulated French insurer headquartered in Paris (29 rue de Bassano, 75008), founded in 2001 and owned by DSA / Grupo Morera & Vallejo under President Antonio Morera Vallejo. The company specializes in construction-related insurance (mandatory decennial civil liability and damage-ouvrage under the Spinetta Act, all-risk construction, contractor liability, PIB intellectual-construction guarantees) and surety bonds (caution), where it has ranked first in Spain for eight consecutive years according to ICEA. It complements these specialty lines with multi-risk professional, professional civil liability (RC Pro), PNE/PNO non-owner property insurance, statutory risk cover for public-sector employers, and a Legal Protection product launched in 2023 that sold nearly 9,000 policies in its first year.

The business is distributed exclusively through authorized brokers and underwriting agencies across the European Economic Area, with no direct-to-consumer channel and no disclosed proprietary technology platform — underwriting and servicing run on traditional insurance infrastructure. Revenue is generated through insurance premiums (gross written premiums of EUR 96 million in 2022, EUR 153 million in 2023, and a EUR 160 million portfolio in 2024), with profitability scaling from EUR 2.5–3.3 million in 2022 to EUR 11.3 million in 2023 and Solvency 2 coverage maintained at 154–161%. Capital strength is anchored by EUR 50 million of social capital, EUR 125.9 million of Solvency 2 own funds, a shareholder guarantee to keep solvency above 130%, and reinsurance placed with A-rated counterparties. Key customer segments are Construction Professionals, SMBs, Property Owners, Local Authorities, and Self-employed/Entrepreneurs across France, Spain, and Portugal.

Name

MIC Insurance

Legal name

MIC INSURANCE COMPANY, S.A.

Website

https://micinsurance.fr

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

MIC Insurance is a Paris-based, ACPR-regulated specialty insurer (founded 2001) offering construction insurance, surety bonds, and professional liability products to construction professionals, SMBs, property owners, public-sector employers, and entrepreneurs across France, Spain, and Portugal via broker and underwriting-agency channels.

Ownership category

akta.pro rank

Product category

Specialty Insurance (Construction and Surety Bonds)

NAICS

Direct Property and Casualty Insurance Carriers (524126), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351), Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial General Liability (CGL) (FSAJADAA)

akta.pro secondary industries

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG), Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

Keywords

• Surety bond insurance
• Construction liability insurance
• Professional civil liability
• Property casualty insurance
• Multi-risk professional coverage

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premiums: MIC Insurance generates revenue through insurance premiums across multiple business lines including construction insurance (decennial liability, damage-ovrage), surety bonds (caution), multi-risk professional, civil liability, statutory risks, and legal protection. Premiums are collected from policyholders (businesses, professionals, property owners, and local authorities) in exchange for coverage of specified risks.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels2 records

Core offering

MIC Insurance is a French-regulated insurer that underwrites and distributes construction insurance (mandatory decennial civil liability, damage-ouvrage, all-risk construction), surety bonds (financial guarantees, tender and contract bonds), professional civil liability, multi-risk professional business coverage, statutory risk insurance for public-sector employers, PNE/PNO property coverage for non-occupying owners, legal protection, and travel/baggage insurance. Products are sold exclusively through authorized brokers and underwriting agencies across France, Spain, and Portugal.

Product overview

MIC Insurance is a French insurer regulated by ACPR offering a comprehensive portfolio of insurance products primarily focused on construction, professional liability, and surety bonds. The product suite includes: Civil Responsibility Decennial (mandatory 10-year construction liability), Professional Civil Liability RC Pro, Multi-risk Professional (all-risk business coverage), Damage-Browsing DO (mandatory construction defect insurance), PNE/PNO (non-owner property insurance), Legal Protection, Statutory Risks (employer coverage for public sector), Travel Insurance, Baggage Insurance, and Caution/Surety Bonds (financial guarantees including completion bonds, payment bonds, and market bonds). The products serve construction professionals, businesses, property owners, and local authorities across France, Spain, and Portugal.

Differentiator

Problem solved

Functional benefit

Products and services

• Civil Responsibility Decennial (Responsabilité Civile Décennale) Mandatory ten-year civil liability insurance covering construction professionals (builders, architects, design firms, technical controllers) for defects affecting the structural integrity or habitability of buildings for ten years from project completion, as required under the French Spinetta Act of 1978.
• Professional Civil Liability RC Pro Covers the financial consequences of civil liability towards third parties and clients for bodily, material, or immaterial damages arising from declared professional activities, targeted at independent professionals and businesses across the European Economic Area.
• Multi-risk Professional (Multirisque Professionnelle) Comprehensive all-risk business insurance covering movable and immovable business assets (buildings, furniture, equipment, goods) as well as civil liability, protecting SMEs against economic damages from fire, water damage, theft, weather events, and workplace incidents.
• Damage-Browsing DO (Dommages-Ouvrage) Mandatory insurance guaranteeing rapid compensation for repair costs of construction defects without the need to first establish liability, providing coverage for ten years from project acceptance.
• PNE/PNO Insurance (Propriétaire Non-Exploitant/Non-Occupant) Non-owner or non-occupier insurance covering property owners for gaps between the tenant's home insurance and actual damages, including coverage for fire, theft damage to doors, frozen pipe damage in unoccupied units, damage from non-compliant installations, and vandalism when the tenant is absent.
• Legal Protection (Protection Juridique) Provides legal advice and defense in disputes, including legal representation in court proceedings and out-of-court settlements with third parties or clients, for businesses and individuals covered under MIC Insurance policies.
• Statutory Risks (Risques Statutaires) Insurance protecting territorial employers from financial risks when employees (covered under CNRACL and IRCANTEC regimes) are on work stoppage due to health reasons, covering work accidents, private life accidents, medical expenses, ordinary and long-term illness, maternity, paternity, and adoption.
• Travel Insurance (Assurance Voyages) Travel insurance providing coverage and compensation in the event of cancellation or default by travel service providers, allowing policyholders to travel with peace of mind.
• Baggage Insurance Coverage for baggage losses or damages sustained during travel, bundled with or sold alongside MIC Insurance Travel Insurance policies.
• Caution (Caución / Surety Bonds) Comprehensive surety bond solutions including financial completion guarantees for developers, payment guarantees for contractors, and market bonds for construction companies, designed for tender bidding and contractual requirements across the European Economic Area.
• Intellectual Construction Professions PIB Guarantee Ten-year guarantee specifically designed for intellectual construction professions (architects, design offices, technical controllers, construction economists) covering defects affecting structural integrity.

Quantifiable outcome

• EUR 160 million in premiums written in 2024
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Leading Reinsurance Companies (rated A and above)coreOthersMIC Insurance's reinsurance programs are covered by the largest market companies rated A and above, enabling the optimization of the company's risk profile. These partnerships provide capacity and financial protection for large or complex claims.

Scale indicators16 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• SMABTP: French mutual insurer specializing in construction and building trades insurance (decennial liability, damage-ouvrage, professional liability). The closest direct comparable to MIC's core construction insurance franchise in the French market.
• Coface: French-headquartered trade credit and surety insurance carrier operating globally. Closely comparable to MIC's surety bond business line and French specialty carrier profile, listed on Euronext Paris.
• Euler Hermes (Allianz Trade): Global trade credit and surety insurer owned by Allianz, with strong European and especially Iberian presence. Directly comparable as a surety bond competitor where MIC holds its Spanish #1 ranking.

Broad incumbents

• AXA France: Major French P&C insurer with a broad construction, professional liability, and surety book. Comparable as a French generalist competitor with overlapping product lines but vastly broader portfolio.
• Allianz France: French arm of global Allianz group, offering construction, liability, and surety products. Comparable as a broad incumbent with overlapping distribution through brokers and underwriting agencies.
• Crédit Agricole Assurances: Bancassurance arm of Crédit Agricole offering P&C, construction, and surety products in France. Comparable as a French carrier with overlapping specialty lines distributed through partner channels.
• Generali France: French subsidiary of Italian global insurer Generali, with P&C and specialty lines including construction. Comparable as a European broad-line competitor in the French specialty market.
• Zurich Insurance France: French arm of Zurich Insurance Group, active in commercial P&C, professional liability, and construction insurance. Comparable as a European specialty insurer competing in similar broker-distributed lines.
• Société Générale Assurances: Bancassurance arm of Société Générale offering P&C and specialty lines in France. Comparable as a French carrier with overlapping SMB-focused multi-risk professional offerings.

Others

• Munich Re: Global reinsurer referenced by MIC as one of its reinsurance partners (A-rated). Comparable as a counterparty shaping underwriting capacity and pricing benchmarks in construction and surety lines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mic-insurance-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MIC Insurance