CMAM - Caisse Meusienne d'Assurances Mutuelles

What CMAM - Caisse Meusienne d'Assurances Mutuelles does

CMAM (Caisse Meusienne d'Assurances Mutuelles) is a French mutual insurance company (Société d'Assurances Mutuelles) headquartered in Bar-le-Duc, in the Meuse department of the Grand Est region. Founded in 1805 as the Caisse départementale des incendiés de la Meuse and rebranded to CMAM approximately 50 years ago, the company is owned by its policyholders (sociétaires) and supervised by the ACPR under the French Insurance Code. It operates with 28 employees, 7 regional agencies, and a network of 350+ active brokers across France. Reported revenue was €50M in 2023, with an explicit goal to reach €100M by 2026.

The company underwrites a full multi-line insurance portfolio organized into brand families: VITALIA (habitation), SECURIA (automobile, including Risques Classiques and Risques Aggravés), PULSIA (santé/prévoyance), ACTIVIA (multi-risk professional), AGRICOLIA (agricultural risks), AEDILIA (local authorities), Protection Juridique and Auxilium (legal protection), plus CONFORT+ add-ons and Garantie Accidents de la Vie. Distribution is hybrid — direct agency sales, 350+ insurance brokers, a wholesale broker partnership with Zéphir (€46.7M 2023 revenue) using API integration, and a direct-to-consumer website with online quote and promotional campaigns. Adjacent services include CMAM Crédit (consumer credit via Sodis Financement / Socram Banque), Mon Assistance au Quotidien (24/7 assistance via FILASSISTANCE and CIVIS), and emergency networks Répartim and AD Carrosserie for habitation and auto claims.

The technology stack is conventional rather than differentiated: a WordPress-based website with Elementor and LiteSpeed hosting, Wordfence security, the ADN Connect CRM for broker and customer management, and QlikSense/Power BI for analytics. The business model is recurring subscription-based premium collection (cotisations variables) under a mutualist structure where profits are reinvested rather than distributed to shareholders. Customers span three primary segments — Particuliers (individuals and families), Professionnels (artisans, merchants, associations, agricultural operations), and Collectivités Locales (municipalities and public entities) — with no concentration on named enterprise accounts. Leadership consists of Director General Laurent Boudet (since 2019, credited with tripling revenue) and Chairman Lionel Lefebvre, presiding over the Conseil d'Administration. A new headquarters is being developed on the Collot site in Bar-le-Duc to accommodate further growth.

Name

CMAM - Caisse Meusienne d'Assurances Mutuelles

Legal name

Caisse Meusienne d'Assurances Mutuelles

Website

https://cmam.fr

Company type

Private

Founded year

1805

Operating status

Operating

Headcount range

11–50 employees

Short description

CMAM is a French mutual insurer (Société d'Assurances Mutuelles) headquartered in Bar-le-Duc, underwriting multi-line P&C, health, legal, professional, agricultural, and local-government insurance through 7 agencies and 350+ brokers. Founded in 1805 and owned by its policyholders, it reported €50M revenue in 2023 with a €100M target by 2026.

Ownership category

akta.pro rank

Headquarters

HQ city

Bar-le-Duc

HQ country

France

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Insurance Premiums: CMAM collects recurring insurance premiums from policyholders across property and casualty (IARD), health, and legal protection insurance lines. Premiums are variable (cotisations variables) based on mutualist model.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

CMAM is a French mutual insurance company (Société d'Assurances Mutuelles) selling a broad portfolio of insurance contracts including home (VITALIA), automobile (SECURIA), health and provident (PULSIA), legal protection (Auxilium/Protection Juridique), professional multi-risk (ACTIVIA), agricultural (AGRICOLIA), and local-authority (AEDILIA) coverage, supplemented by CONFORT+ add-on modules, CMAM Crédit financing, and 24/7 daily assistance services.

Product overview

CMAM operates as a mutual insurance company offering a comprehensive portfolio of insurance products organized into distinct brand families. The core offerings include VITALIA (habitation/property), SECURIA (automobile), PULSIA (health/provident), and Protection Juridique (legal protection). Professional lines comprise ACTIVIA (commercial multi-risk), AEDILIA (local authorities), and AGRICOLIA (agricultural risks). These are supplemented by CONFORT+ add-on modules, CMAM Crédit financing services (via Sodis Financement), and daily assistance services managed by FILASSISTANCE and CIVIS. The company also offers a dedicated legal protection stand-alone brand (Auxilium) and life accident coverage (GAV). Distribution occurs through 7 regional agencies in the Grand Est region and a network of approximately 350 active brokers, with recent expansion through Zéphir wholesale broker partnership for API-based distribution.

Differentiator

Problem solved

Functional benefit

Brands

• VITALIA: Home insurance product range for individuals covering habitation and buildings.
• SECURIA
• PULSIA
• ACTIVIA
• AEDILIA
• AGRICOLIA
• Auxilium
• Mon Assistance au Quotidien
• CMAM Crédit

Products and services

• VITALIA (Home and Building Insurance) Home and building insurance product line offering multi-offer packages (packaged or modular) that allow policyholders to guarantee their property and liabilities according to their specific needs. Covers primary residences, student shared housing, atypical properties, and renovation projects for individual customers.
• SECURIA (Automobile Insurance) Automobile insurance product line covering motor vehicles, 2-wheelers, trailers or caravans, personal and professional vehicles, and construction equipment. Includes 'Risques Classiques' (Classic Risks) and 'Risques Aggravés' (Aggravated Risks) contracts developed in partnership with Zéphir.
• PULSIA (Health and Provident Insurance) Health and provident insurance product line providing comprehensive complementary health coverage adapted to policyholder needs, along with provident contracts (death and disability insurance) to protect against life risks and provide support during difficult circumstances.
• Protection Juridique (Legal Protection Insurance) Legal protection insurance providing coverage for legal disputes. Offered as a standalone product and as extended legal protection in partnership with CFDP (Compagnie Française de Défense des Procédures) with 30 sites across France and 205 employees for personalized service.
• ACTIVIA (Professional Multi-Risk Insurance) Professional multi-risk insurance product dedicated to artisans, merchants, service providers, and associations. Also adapts to buildings or commercial premises owned by non-operating owners, providing agile coverage for business protection.
• AEDILIA (Local Authorities Insurance) Local authorities insurance product covering mayor protection, municipality coverage, and insurance for syndicates. Specifically designed for public entities and governance structures (communes, intercommunal syndicates).
• AGRICOLIA (Agricultural Risks Insurance) Agricultural risks insurance protecting property, liabilities, and farming operations. Covers the specific needs of agricultural enterprises and farming activities.
• Auxilium (Stand-alone Legal Protection) Stand-alone legal protection product offering solid support for policyholders (individuals and professionals) in case of legal disputes. Addresses the growing number of litigation situations in modern life and provides essential life-accident protection.
• Garantie Accidents de la Vie (GAV - Life Accident Coverage) Life accidents coverage protecting individuals against everyday accident risks, including DIY accidents, sports injuries, or simple falls. Provides essential protection despite often-negative press perception.
• Mon Assistance au Quotidien (Daily Assistance Contract) Exclusive daily assistance contract offering assistance guarantees, support, and legal protection for everyday serenity. Services include 24/7 accessibility, maximum 72-hour response time, and local relationship-focused assistance covering legal protection (up to €15,000 per dispute), medical assistance (teleconsultation, medical appointments), social assistance (administrative help, dossier preparation), and psychological support.
• CMAM Crédit (Credit and Financing Solutions) Credit and financing solutions offered in partnership with Sodis Financement (Socram Banque). Products include Auto Credit (up to €300,000), Works Credit (up to €75,000), Project Credit (up to €20,000), Habitat Credit, and Camping-car Credit (up to 180 months) with no hidden fees and emphasis on responsible lending.
• CONFORT+ (Additional Coverage Modules) Additional coverage contracts complementing CMAM's core insurance offerings to ensure peace of mind. Modular contracts that can be added to main policies for enhanced protection.

Quantifiable outcome

• Revenue doubled from 2019 to reach €50M in 2023, with goal to double again to €100M by 2026

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• ZéphircoreChannel Partner/ Reseller/ Distributor · 27 March 2025Partnership with Zéphir, a major wholesale broker (courtier grossiste) with €46.7M revenue in 2023. The partnership enables CMAM to address more technical risk profiles and larger portfolios. 7 months of portfolio analysis preceded the partnership. Zéphir agreed to deploy CMAM offers via API integration for data validation and security. Initial collaboration focuses on new auto insurance products including 'Risques Classiques' and 'Risques Aggravés'.
• Sodis Financement (Socram Banque)coreStrategic or Co-development PartnerPartnership with Sodis Financement, brand of Socram Banque (mutualist financing actor), to offer credit products to CMAM policyholders. Products include auto credit (up to €300,000, 84 months), works credit (up to €75,000, 120 months), project credit (up to €20,000), camping-car credit, and habitat credit. Emphasizes security, transparency, and responsible lending.
• FILASSISTANCEcoreTechnology or IntegrationFILASSISTANCE provides daily assistance services for CMAM policyholders including legal protection (up to €15,000 per dispute), medical assistance (teleconsultation, medical appointments), social assistance (administrative help, dossier preparation), and psychological support. 10,000 service providers across France for optimal territorial coverage.
• CIVIScoreTechnology or IntegrationCIVIS provides legal protection and assistance services for CMAM's 'Mon Assistance au Quotidien' product. Services include legal information from qualified lawyers, protection for health, social, real estate, dependency, and life accident situations, and succession legal protection.
• La Compagnie des AmandesminorGTM or Marketing PartnerCMAM partnered with La Compagnie des Amandes, a company developing French almond cultivation. Partnership aligns with CMAM's values of supporting local economy, French agricultural resources, and sustainable initiatives. CMAM contributes to local territory development.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• MAIF: Large French mutual insurer known for individual P&C and a strong mutualist ethos comparable to CMAM's positioning. Overlaps on home, auto and personal liability, with broader national brand recognition and larger member base.
• Pacifica (Crédit Agricole Assurances): Non-life insurance subsidiary of Crédit Agricole distributing P&C products through the regional bank network. Comparable as a French P&C carrier operating through an established distribution channel, though at substantially larger scale.
• Covéa (MAAF / MMA / GMF): Covéa is a major French mutual insurance group combining MAAF, MMA and GMF, all structured as mutuelles. Overlaps with CMAM on individual and professional P&C, health, and legal protection lines, but operates at much larger scale nationally and through multiple brands.
• MACIF: Major French mutual insurer historically focused on auto and home, now also in health, provident and legal protection. Comparable mutual model and product overlap with CMAM's VITALIA/SEURIA/PULSIA offering, but at much greater national scale.
• La Banque Postale Assurances: Insurance subsidiary of La Banque Postale offering P&C and health products, including local-government and professional lines. Comparable on serving collectivités locales and professionals with a regulated French carrier model.
• Crédit Mutuel Assurances: Insurance arm of the Crédit Mutuel banking group distributing P&C, health and provident products via the mutual banking network. Comparable on its mutualist DNA and on cross-selling insurance through an integrated distribution model.
• Groupama: Leading French mutual insurer with regional caisses distributing P&C, health and life products, including agricultural lines (similar to CMAM's AGRICOLIA) and local-authority coverage. Shares mutualist structure and regional anchoring with CMAM.

Direct peers

• SMACL Assurances: French mutual insurer Société Mutuelle d'Assurance des Collectivités Locales specializing in local-authority and individual coverage. Closely comparable to CMAM in its mixed particuliers / professionnels / collectivités book and ACPR-regulated mutual structure, although SMACL operates at larger national scale.
• Mutuelle de Poitiers Assurances: Regional French mutual insurer offering auto, home, health and protection juridique products mainly in central/western France. Comparable to CMAM in being a multi-line régional mutual with broker and agency distribution and a similar P&C-heavy product mix.
• Thélem Assurances: French regional mutual insurance company offering P&C, health and provident products primarily through brokers. Like CMAM, it is a smaller mutual insurer using a broker-led distribution model, which makes operating model and target customer highly comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cmam

Compliance4 records

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 CMAM - Caisse Meusienne d'Assurances Mutuelles