Business · Companies · 11 hrs ago
Covéa plans insurance price rises of 3% to 8% in 2027
Covéa plans to raise insurance prices by 3% to 8% in 2027 for customers of MAAF, MMA and GMF in France.
The group’s chairman, Thierry Derez, said the increase could still change because the year is not over.
Home insurance is expected to rise more than car insurance, though Derez did not give separate rates.
He said prices reflect inflation and the rising value of the homes and vehicles insurers protect.
Weather damage has raised insurers’ costs, with drought causing cracks in homes and other events including floods, hail and wildfires.
Derez estimated drought-related costs at €5 billion to €6 billion for the insurance sector in 2026, and said the full year’s experience could affect the final 2027 increase.
Covéa plans to raise insurance prices by 3% to 8% in 2027, its chairman Thierry Derez said.
The increase will affect home insurance more than car insurance.
Derez said the figure could still change because the year is not over.
He cited costly weather-related damage in 2026, including damage linked to drought.
He estimated that drought-related claims were contributing to projected insurance-sector costs of €5 billion to €6 billion for 2026.
- Who
- Covéa, the parent company of MAAF, MMA and GMF, plans the price rises. Its chairman is Thierry Derez.
- What
- Insurance prices are set to rise by 3% to 8% in 2027, with a larger increase for home insurance than car insurance.
- When
- The planned increases are for 2027. Derez announced them on 14 November 2026.
- Where
- France.
- Why
- Derez cited rising costs, including weather-related damage, and the increasing value of what insurers protect.
This story does not have two clearly opposing sides.
Derez described the period as very bad for the climate, citing flooding and spring weather events.
Derez cited hail incidents during the month.
Derez said estimates for the insurance sector’s 2026 costs had reached €5 billion to €6 billion.
Derez announced that Covéa planned insurance price rises of 3% to 8% for 2027.
The planned price increases are due to take effect, with home insurance prices set to rise more than car insurance prices.
- Planned increase
- 3% to 8% in 2027
- Covéa brands
- MAAF, MMA and GMF
- Announcement date
- 14 November 2026
- Expected 2026 sector costs
- €5 billion to €6 billion
- Annual home-insurance premiums
- About €20 billion across insurers
What people are saying
The first half of 2026 was very bad in terms of climate
Today, estimates of 5–6 billion euros for 2026 are beginning to emerge
What is also increasing a lot is the value of what we protect
It will cost much more