Group Matmut's acquisition of HSBC Continental Europe's operations, leading to the establishment of KOREGE, is set to significantly enhance its market presence and diversify its insurance offerings in France.

Target Information

The recent acquisition, announced on December 20, 2024, involves a strategic partnership with HSBC Continental Europe, evidenced by a signed memorandum of understanding. Receipts of authorization from the Competition Authority on April 16, 2025, and from the Prudential Control and Resolution Authority (ACPR) on June 18, 2025, permitted the finalization of this transaction on October 31, 2025. This acquisition is set to increase the group's overall activity by 51%, reaching a projected €4.8 billion in total premiums acquired in 2024 compared to 2023.

Upon the completion of this deal, the activity distribution will comprise: property and liability insurance (46%), savings and prevention (38%), and health insurance (16%). The new corporate structure, effective November 1, 2025, will be known as KOREGE, a name derived from the Greek term for a unified chorus advancing toward a common goal. This reflects the organization's ambition to foster a sustainable and collaborative union, both within the group and with current and future partners, always prioritizing customer service.

Industry Overview

The insurance sector in France has been experiencing significant transformation, driven by changes in consumer expectations and regulatory frameworks. The market is becoming increasingly competitive, with